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Money
Currency: Manat (AM). Notes are in denominations of AM50,000, 10,000, 1000, 500, 100 and 50.
Currency exchange: US Dollar, Pound Sterling and the Euro are the preferred currencies and can be exchanged at the airport, bureaux de change, all hotels, some restaurants and major banks. However, many local hotels, exchange bureaux and restaurants will not accept dollar bills dated before 1992 or those which are torn or in any way disfigured. Travellers are advised to take banknotes in small denominations and change small amounts of money as required. Rates offered by banks and bureaux de change are unlikely to vary significantly.
Credit & debit cards: Generally Azerbaijan is a cash-only economy, however credit cards are accepted in the major hotels, some restaurants and all banks in Baku. Credit cards can be used to purchase tickets at the airport.
Travellers cheques: Generally not accepted.
Currency restrictions: The import and export of local currency by non-residents is prohibited. The import of foreign currency is unlimited although it must be declared on arrival. The export of foreign currency is limited to the amount declared on arrival. Residents may only export up to US$10,000 or equivalent. Amounts in excess of US$1000 or equivalent are subject to one per cent tax.
Exchange rate indicators
The following figures are included as a guide to the movements of the Manat against Sterling and the US Dollar.
| Date | May ’02 | Aug ’02 | Nov ’02 | Feb ’03 | | £1.00= | 7067.90 | 7443.29 | 7714.07 | 7787.70 | | $1.00= | 4850.00 | 4894.00 | 4878.00 | 4891.00 |
Banking hours: Mon-Fri 0930-1730.
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Terms and Conditions apply.
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