Money in Azerbaijan: A Tourist Guide to ATMs, Cards and Exchange
You will travel to Azerbaijan, right? Do you wonder what to do with the money situation? Which ATMs to use, how to exchange money, how much things cost, this kind of thing?
I’ve got you covered! This article contains everything about withdrawing from an ATM, exchanging currency, and paying by card in Azerbaijan.
Do you want to know which ATMs don’t charge an access fee? (hint: most don’t, e.g. Premium Bank)
Or if you can withdraw USD directly? (mostly discontinued or ATMs have no notes)
Do you wonder if you can use Revolut, Curve, or Monese in Azerbaijan? (Yes, fintech banks work!)
This is the full guide to money in Azerbaijan for tourists!
Currency in Azerbaijan
The currency in Azerbaijan is the Azerbaijani Manat with code AZN.
In its current form, it has been in circulation since 2006. It’s also sometimes called the Azerbaijani New Manat.
The Manat was pegged to the USD until 2016 when it was allowed to float freely. In early 2018 it was repegged to the USD at a rate of 1.70 AZN to 1 USD. This has been the official rate ever since.
The Azerbaijani Manat is divided into 100 qəpik (pronounced “kapik”). The coins in circulation are 1, 3, 5, 10, 20, and 50 qəpik. They have an uncanny resemblance to the Euro coins.
The Manat banknote denominations are 1, 2, 5, 10, 20, 50, 100, 200, and 500. The biggest banknote (500 AZN) is quite rare in daily life. However, even the 100 and 200 AZN (worth 59 and 118 USD respectively) are big enough so you don’t have to carry a lot of banknotes like with money in Uzbekistan.
The banknotes also bear a striking resemblance to the Euro banknotes. One can’t help but compare Azerbaijan’s money to a kid copying their classmate’s homework.
Can you use your card in Azerbaijan?
Yes, you can use your card in Azerbaijan. Paying by card is very common, especially in big cities like Baku and Ganja.
In Baku for example, you can pay for almost anything by card. Supermarkets, hotels, restaurants, all accept cards. The main exception is street food stalls and open-air markets where it’s cash only.
The more you venture outside of the capital Baku, the more Azerbaijan becomes cash-based. In rural places, off-the-beaten-track destinations, mountainous villages, and border regions be prepared with cash as cards are accepted way less often.
All kinds of cards are accepted: Visa, Mastercard, Maestro, Cirrus, and American Express.
ATMs in Azerbaijan
ATMs are everywhere in Baku. It’s quite a modern city after all. In Ganja and Sheki there are plenty of ATMs too.
The places without ATMs are in the Caucasus mountains where you should be prepared with cash beforehand.
Most ATMs will accept almost any type of card but VISA and Mastercard are universally accepted at all ATMs.
The maximum withdrawal limit at most ATMs in Azerbaijan is 500 AZN. Some banks set a lower limit of 200 AZN whereas others (e.g. ASB bank) have limits up to 1000 AZN. Since there are mostly no access fees, the withdrawal limit mostly doesn’t matter – just withdraw multiple times.
Withdrawal Fees
Here comes the tricky part – avoiding those pesky ATM withdrawal fees. I’m not talking about the fees you get charged on your end from your bank – those you can avoid by using a FinTech solution like Revolut, Curve, or Monese.
Most ATMs in Azerbaijan do NOT charge a withdrawal fee!
ATMs without withdrawal fees
The best ATM for travelers to withdraw money in Azerbaijan is Premium Bank. It charges no fees and has many ATMs in all regions of the country.
This is a list of Azerbaijani ATMs that are confirmed to charge 0 access fee for withdrawals:
- Premium Bank
- Expressbank
- ASB
- VTB
- Pasha Bank
- Kapital Bank
- Access Bank
Never accept currency conversion offered by the ATM! Refuse if prompted and let your own bank do the exchange at a much better rate.
Withdrawing foreign currency in Azerbaijan
Withdrawing foreign currency in Azerbaijan is getting harder and harder every year. I was not able to find a single ATM that would disperse US dollars despite trying over 25 in Ganja and Baku.
Withdrawing USD
Almost all ATMs in Azerbaijan will offer a choice between withdrawing Manat and withdrawing US dollars. However, after selecting USD, the machine will either say it’s not possible or that it’s out of cash.
Withdrawing USD used to be the norm in Azerbaijan, petrodollars and all… But now the Manat is pegged to the USD and there is no overdemand for dollars.
A pegged currency means that the rate is guaranteed. In other words, there will always be enough USD reserves in Azerbaijan to cover all available Manat.
Long story short, it’s becoming very difficult to withdraw USD from ATMs. I tried over 25 ATMs unsuccessfully, then gave up, withdrew AZN, and exchanged for USD.
Withdrawing EUR
As far as I know, ATMs offering withdrawals in euros have been discontinued. It is no longer possible to withdraw Euro directly from an ATM.
You will have to withdraw AZN and exchange for Euro instead.
Exchanging Money in Azerbaijan
You don’t have to exchange money in Azerbaijan if you have a card with low fees like Revolut. You can pay by card in most places anyway. Moreover, fee-free withdrawals are the norm in Azerbaijan.
Nonetheless, if you prefer to carry foreign currency and exchange inside the country, here’s how to be prepared.
What currency to bring
The US dollar is the best currency to carry to Azerbaijan because it’s pegged to the Azerbaijani Manat at a rate of 1.70 AZN to 1 USD.
The rate you will get in most exchange bureaus and banks is 1.69-1.695 AZN for every USD. This is an incredibly low margin!
You will have no issues exchanging these currencies too:
- Euro
- Turkish Lira
- Russian Rouble
- Georgian Lari
- British Pound
- Emirati Dirham
If your currency is not on the list it’s a good idea to change it to USD.
While in Azerbaijan, I didn’t exchange money for AZN. On the contrary – I needed USD to have some cash cushion for my trip to Central Asia, after which I created these money guides:
After trying many ATMs, I couldn’t find one that would disperse US dollars. So I withdrew AZN and exchanged for USD.
Where to Exchange Money
You can exchange money in Azerbaijan at:
- Banks (Easiest and lowest margins. Bring your passport!)
- Exchange bureaus in a city (Look for rates above 1.69 AZN per USD)
- Airports (worst rates)
- Hotels (just okay)
How much cash to bring to Azerbaijan?
This depends on your way of traveling and your budget. Using your card in Azerbaijan is pretty easy so there’s no need to go overboard with physical cash.
My advice is to have at least 200$ just in case something goes wrong with your bank cards and you need emergency cash until you sort it out.
When I went to Azerbaijan I exclusively used my Revolut and Curve cards to withdraw AZN.
On the other hand, if you’re wondering how much money you need to travel to Azerbaijan and how much I paid on my weeklong trip, you can check out my backpacker’s budget report for Azerbaijan.
Example prices
These are some price ranges to give you an idea of current prices:
- Doner kebab at a stall: 2-3 AZN
- Restaurant meal: 6-10 AZN
- Hot Azeri bread from the supermarket: 1 AZN
- Bottled water (1.5 L): 0.7-1 AZN
- Beer: 2-4 AZN
- A glass of tea (super popular): 0.5 AZN
- Museums: 5-10 GEL
- Public transportation in big cities: 0.3-1 GEL
- Intercity buses and marshrutkas: ~4 AZN per 100 km
- Budget hostel: 10-20 AZN
- Mid-range hotels – 35-65 AZN
- Half-day group tour – 30-50 AZN;
See my budget report for Azerbaijan for more details.
Bargaining
Bargaining in Azerbaijan is only a thing at traditional markets.
Do not bargain if there’s a price tag – and there will be price tags on almost every item everywhere.
The Azeri people are generally honest and will rarely overcharge you.
Tipping
Tipping is not customary in Azerbaijan.
In most of the higher-end restaurants there will be a service charge of 10% added to the bill. You can safely consider this the tip and not give extra.
In taxis, round up to the nearest manat. In hotels, tipping isn’t expected.
Frequently Asked Questions
Let’s answer some of your most burning questions about money in Azerbaijan.
What is the ATM withdrawal limit in Azerbaijan?
The highest withdrawal limit on ATMs in Azerbaijan is 1.000 AZN (~590$).
The limit on most banks is lower though – usually 200 or 500 AZN. If the limit is lower, you can withdraw multiple times, given that the ATM doesn’t charge for withdrawals – check above for the list.
Can you use US dollars in Azerbaijan?
No, you cannot use US dollars to pay for things in Azerbaijan. Universally, the only accepted currency is the local Azerbaijani Manat.
The Manat is pegged to the dollar, so the exchange rate is always the same – 1.70 AZN per 1 USD.
Can you use Revolut in Azerbaijan?
Yes, Revolut cards work in Azerbaijan. Both VISA and Mastercard work. You can withdraw from ATMs and pay on POS terminals with your Revolut card.
Similar fintech apps like Wise, Monese, Curve, N26, and Starling also work there.
If you are going to Azerbaijan’s biggest friend – Turkey – read my guide to money in Turkey too!
Money guides for other Caucasus countries:
