Convert Azerbaijani Manat to Euro
Convert Azerbaijani Manat (AZN) to Euro (EUR) using daily updated exchange rates.
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Exchange Rate
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About Azerbaijani Manat
The Azerbaijani Manat (AZN) is the official currency of Azerbaijan, reintroduced as the "new manat" in 2006 to replace the old manat at a rate of 5,000 to 1. The Central Bank of the Republic of Azerbaijan issues the manat, which is divided into 100 qapik. Azerbaijan's economy is strongly driven by oil and natural gas exports from the Caspian Sea region, making the manat's value closely tied to energy commodity prices. The currency experienced a significant devaluation in 2015-2016 when oil prices fell sharply. The manat's name derives from the Russian word for "coin".
About Euro
The Euro (EUR) is the official currency of the Eurozone, comprising 20 of the 27 European Union member states - the single largest currency union in the world by GDP. Introduced in non-physical form on 1 January 1999 and as banknotes and coins on 1 January 2002, the Euro replaced participating national currencies such as the Deutsche Mark, French Franc, Italian Lira, and Spanish Peseta. The European Central Bank (ECB) in Frankfurt manages monetary policy. The Euro is the second largest reserve currency and the second most traded currency in global foreign exchange markets after the US Dollar.
Quick Reference Table
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Exchange rates are updated daily and provided for informational purposes only. Not suitable for financial transactions. Source: fawazahmed0/exchange-api (MIT license).