1 Manat Kaç Euro: Azerbaijani Manat (AZN) to Euro Exchange Rate
The Azerbaijani Manat (AZN) is the official currency of Azerbaijan. It’s pegged to the US dollar, currently at a rate of approximately 1 USD to 1.70 AZN. So, how does this relate to the Euro? This article explains how to calculate the AZN to Euro exchange rate and provides context on the Azerbaijani economy and the Manat’s history.
Calculating 1 Manat to Euro
Since the Manat is pegged to the USD, calculating its value against the Euro requires a two-step process:
-
Find the current USD to EUR exchange rate. This fluctuates constantly and can be found easily online using a currency converter or checking financial websites.
-
Use the USD/EUR rate to calculate AZN/EUR. Divide the current USD/EUR rate by the fixed USD/AZN rate (1.70).
Example:
Let’s say 1 USD = 0.90 EUR (This is a hypothetical example; check for the current rate).
Then, 1 AZN = (0.90 EUR / 1.70 USD/AZN) = approximately 0.53 EUR.
Therefore, in this example, 1 Manat would be worth approximately 0.53 Euros. Remember to always use the most up-to-date exchange rate for accurate conversions.
Factors Influencing the Manat’s Value
The Azerbaijani economy is heavily reliant on its energy sector, primarily oil and natural gas. Fluctuations in global oil prices significantly impact the Manat’s value. While pegged to the dollar, providing some stability, the Manat remains vulnerable to shifts in the global energy market.
History of the Manat’s Dollar Peg
The Manat hasn’t always been pegged to the dollar. Prior to February 2015, 1 USD was worth approximately 0.78 AZN. A series of devaluations and a period of floating exchange rates followed before the current peg of 1 USD to 1.70 AZN was established in May 2017. This peg aims to provide stability and control inflation.
Using the Manat
Within Azerbaijan, the Manat is widely used for everyday transactions. Credit cards and debit cards are also generally accepted. However, if you plan to travel outside Azerbaijan, exchanging Manat for other currencies, especially major ones like the Euro or USD, is highly recommended due to its limited international acceptance.
Conclusion
The exchange rate for “1 Manat Kaç Euro” (how much is 1 Manat in Euros) depends on the current USD/EUR exchange rate. By using the current USD/EUR rate and the fixed USD/AZN peg of 1.70, you can easily calculate the current value. The Manat’s value is closely tied to the global energy market due to Azerbaijan’s dependence on oil and gas exports. While the dollar peg provides stability, external factors can still influence its value against the Euro. Always consult a reliable currency converter for the most accurate and up-to-date exchange rate information.