Azerbaijani Manat (1993–2006)

Azm is the national currency of Azerbaijan. It was introduced on 1 January 2006, replacing the manat at a rate of 5,000 manat to 1 azm. The word "azm" is derived from the Arabic word "عزم", meaning "determination". The azm is subdivided into 100 qəpik. Coins are issued in denominations of 1, 3, 5, 10, 20 and 50 qəpik, and banknotes in denominations of 1, 5, 10, 20, 50 and 100 azm. The Azerbaijan National Bank is the central bank of Azerbaijan, responsible for issuing the national currency. The Azm is pegged to the US Dollar at a rate of 1 USD = 1.7 AZM.