If you’ve ever stared at a currency chart for the Azerbaijani manat, you probably thought your screen froze. For years, the line has been as flat as a pancake. While the rest of the global economy rides a roller coaster of inflation and volatile swings, the azerbaijan currency to usd rate has sat stubbornly at 1.70.
It’s weird. Honestly, in a world where the Yen collapses and the Euro dances around parity, seeing a currency stay exactly the same for nearly a decade feels like a glitch in the Matrix.
But it isn’t a glitch. It’s a choice.
The Central Bank of Azerbaijan (CBA) basically runs a "de facto" peg. They decided 1.70 was the magic number back in 2017, and they’ve stuck to it with the kind of discipline most of us wish we had with our gym memberships. If you’re planning a trip to Baku or looking to move money into the Caspian region, you need to understand that this isn’t a free-market price. It’s a managed one.
Why the 1.70 peg is the only number that matters
Most people looking at azerbaijan currency to usd expect to see daily fluctuations. You won't. Since 2017, the official rate has been 1.70 AZN to 1 USD. This is a deliberate policy to keep the economy stable, especially since Azerbaijan's wealth is so heavily tied to oil and gas exports.
When oil prices tanked in 2015, the manat lost half its value almost overnight. It was chaotic. To prevent a repeat of that trauma, the government uses its massive foreign exchange reserves—which hit $11.4 billion at the start of 2026—to keep the manat exactly where they want it.
The Real Math (January 2026)
If you’re doing a quick conversion in your head, here is how the numbers actually look right now:
- 1 USD = 1.70 AZN (The Buy/Sell rate at banks will be slightly different, usually around 1.69 to 1.702).
- 100 USD = 170 AZN.
- 1 AZN = 0.588 USD.
It’s predictable. Boring, even. But for a business operating in Baku, that boredom is a luxury. It means they don't have to hedge against currency risk every single morning.
The "Black Market" and Bank Reality
You’ll hear rumors about "better rates" on the street. Ignore them.
Azerbaijan cleaned up its act regarding street exchangers years ago. Most of those "booths" you might have seen in old travel vlogs are gone. Today, you exchange money at banks or official "Valyuta" (exchange) points.
Here is the thing: while the official rate is 1.70, you will never actually get 1.70 when you’re selling your Dollars. Banks take a cut. Usually, they buy your USD at 1.69 or 1.695. If you’re trying to buy USD with Manat, you’ll pay closer to 1.702 or 1.705.
Pro Tip: Don't exchange money at Heydar Aliyev International Airport unless you just need 20 Manat for a taxi. The spread there is wider than a canyon. Wait until you get into the city center—Nizami Street has plenty of banks that will give you a much fairer shake.
Is a devaluation coming in 2026?
This is the question everyone whispers about in the tea houses of Baku. People remember 2015 like it was yesterday. The logic is simple: if oil prices stay low for too long, the Central Bank might run out of "ammo" to defend the 1.70 rate.
However, the 2026 budget looks pretty solid. The government is working with a base oil price of $65 per barrel. As long as "Azeri Light" stays above that mark, the 1.70 peg is likely safe. The IMF and World Bank are both projecting moderate growth for Azerbaijan this year, and the Central Bank has explicitly stated that exchange rate stability is their main anchor for 2026.
Basically, they aren't going to let the manat slide unless they absolutely have to. They value stability over almost everything else.
The Inflation Factor
While the currency is stable, prices in the shops are not. Azerbaijan imports a lot of goods. If the USD gets stronger globally, or if inflation rises in Turkey or Russia (two major trade partners), prices in Baku go up even if the azerbaijan currency to usd rate stays at 1.70. This is what economists call "imported inflation." The UN expects inflation in Azerbaijan to hover around 4% throughout 2026.
How to handle your money in Azerbaijan
If you're visiting or doing business, the "cash is king" rule still applies, though it's changing fast. Baku is very modern. You can pay with a credit card at almost any restaurant, mall, or supermarket in the city.
But leave the city limits? Different story. If you’re heading to the mountains of Quba or the mud volcanoes in Gobustan, you better have some Manat in your pocket.
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- Bring USD or EUR: These are the easiest to exchange. Don't bother trying to exchange obscure currencies like the Indian Rupee or Brazilian Real; you'll get a terrible rate, or no rate at all.
- Use ATMs wisely: Most ATMs in Baku accept Visa and Mastercard. Just be aware that your home bank will charge you a "foreign transaction fee" on top of whatever the local ATM charges.
- The Passport Rule: You generally need to show your passport to exchange more than $500 at a bank. It’s a standard anti-money laundering thing.
- Denominations: The 1, 5, 10, 20, 50, 100, and 200 Manat notes are all in circulation. The 200 AZN note is beautiful but a pain to use—most small shops won't have the change for it. Stick to 20s and 50s.
The Bottom Line for 2026
The azerbaijan currency to usd relationship is a managed one. It is not a "free" market. As long as the State Oil Fund (SOFAZ) keeps pumping dollars into the system and oil prices don't crater, 1.70 is the number you can bank on.
If you are a traveler, this makes budgeting incredibly easy. You don't have to check the news every morning to see if your vacation just got 10% more expensive. If you are an investor, it provides a level of certainty that is rare in emerging markets.
Actionable Insights:
- For Travelers: Use your credit card for big purchases to get the mid-market rate, but always carry at least 50 AZN in small bills for taxis and "doner" shops.
- For Business: Keep an eye on Brent Crude prices. If oil stays above $60, the manat stays at 1.70. If it drops to $40, start worriedly checking the CBA's press releases.
- For Everyone: Stop looking for a "better" rate than 1.70. If someone offers you 1.80 on the street, it’s a scam. Period.
The manat is a tool of state policy, and for the foreseeable future, that policy is "don't touch the dial."