Azerbaijani Manat

The Azerbaijani manat (AZN) is the national currency of Azerbaijan. The word "manat" is derived from the Russian word for "monetary unit", монета (moneta), which itself is derived from the Latin word for "coin", moneta. The manat was introduced in 1992, replacing the Soviet ruble at a rate of 10 rubles = 1 manat. The manat was subdivided into 100 qəpik. The manat was pegged to the United States dollar at a rate of 5,000 manat = 1 USD until 2005, when the government of Azerbaijan announced its intention to allow the currency to "float" on the foreign exchange market. As of January 2017, the Azerbaijani manat is the world's weakest currency, with an exchange rate of 1 USD = 2.1 AZN.