The Manat is the legal tender of Azerbaijan. The ISO 4217 code of the second manat is AZM. 100 qəpik makes one Manat. Manat is also used to represent the Soviet Ruble in Azerbaijani and Turkmen languages. The term manta is borrowed from the Russian term maneta, which means money.
The manat can be represented as m, man, ман. The symbol for Azerbaijani manat is however it is not encoded in Unicode.
The first manat was in use between 1919 to 1923 issued by the Azerbaijan Democratic Republic (25, 50, 100, 250 and 500 manat) and the Azerbaijani Soviet Socialist Republic (5, 100, 1000, 5000, 10,000, 25,000, 50,000, 100,000, 250,000, 1 million and 5 million manat). No subdivisions existed for this currency and it was issued as just banknotes.
The second Manat was in use between 1992 and 2006 with the ISO 4217 code AZM. The AZM replaced the Soviet Ruble where 10 rubles were equal to 1 manat. The exchange rate for AZM was pretty stable between 4770 to 4990 manat per USD between 2002 to early 2005.
Since 2005, there was a steady increase in the value of the manat when the petrodollars in to the country increased where 1USD = 4591 manat. Bank notes of 100 manat and less were no longer available after 2005 and they were replaced with qəpik coins.
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