The manat is the currency unitofAzerbaijan. 1 Azeri manat (AZM) equals 100 gopiks (no longer used due to inflation). The word manat is borrowed from the Russian word『монета』(coin) which is pronounced as "maneta". Manat was also the designation of the Soviet rouble in both Azeri and Turkmen.
As of January 6, 2005, one US dollar is worth 4,922.94 Azerbaijani manats. This rate has been fairly stable (varying within the band 4850-4990) since early 2002. Banknotes below 50 manats (~ 1 US cent) had effectively disappeared from circulation in the capital, Baku, as of early 2005, and coins were not in use.
It is planned to re-denominate at the rate of 1 New Manat = 5000 old manats, with effect from 1 January 2006. Coins will be re-introduced at the same time.
Banknotes from 1 to 250 manats feature Baku's Maiden Tower. Banknotes from 1 to 100 manat are used very rare.
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