The Azerbaijanis call their currency the “Manat” which is derived from the the Russian word for “coin” (moneta). There have been three versions of the Manat including:

“1st Manat” (1919-1923) was issued by the Azerbaijan Democratic Republic and its Communist successor the Azerbaijani Soviet Socialist Republic.

Azerbaijan 500 Manat
Azerbaijan 500 Roubles (Manat) p7 1920
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“2nd Manat” (1992-2006) Azerbaijan began to reissue their own currency following the breakup of the old Soviet Union.

Azerbaijan 500 Manat 1993
Azerbaijan 500 Manat from 1993
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“3rd Manat” (2006 to the present) After a decade of serious hyperinflation, Azerbaijan reintroduced their currency. We think this series is quite beautiful.

Azerbaijan 5 Manat (2009)
Azerbaijan 5 Manat from 2009
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