Convert Azerbaijani Manat to Norwegian Krone
Convert Azerbaijani Manat (AZN) to Norwegian Krone (NOK) 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 Norwegian Krone
The Norwegian Krone (NOK) is the official currency of Norway and is managed by Norges Bank with an inflation-targeting floating exchange rate regime. Norway is one of the world's wealthiest countries, with a massive sovereign wealth fund - the Government Pension Fund Global, the world's largest sovereign wealth fund at over one trillion US Dollars - built from North Sea oil revenues. This "oil fund" provides a financial buffer against commodity price cycles. Norway is not an EU member but participates in the European Economic Area.
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).