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.
“2nd Manat” (1992-2006) Azerbaijan began to reissue their own currency following the breakup of the old Soviet Union.
“3rd Manat” (2006 to the present) After a decade of serious hyperinflation, Azerbaijan reintroduced their currency. We think this series is quite beautiful.