OCTO to AZN Converter and calculator


Conversion rates
Convert OCTO to AZN
Convert AZN to OCTO
OCTO to AZN chart
OCTO to AZN conversion data: Volatility and price changes of OctoFi in AZN
Last 24 hours | Last 7 days | Last 30 days | Last 90 days | |
---|---|---|---|---|
High | 0.4209 AZN | 0.4348 AZN | 0.7308 AZN | 0.7308 AZN |
Low | 0.3879 AZN | 0.3766 AZN | 0.3581 AZN | 0.3581 AZN |
Average | 0 AZN | 0 AZN | 0 AZN | 0 AZN |
Volatility | % | % | % | % |
Change | -5.40% | +2.85% | -29.95% | -43.41% |
OctoFi information
OCTO to AZN market statistics
Current OCTO to AZN exchange rate
OctoFi to Azerbaijani Manat is rising this week.More info about OctoFi on Bitget
Azerbaijani Manat information
About Azerbaijani Manat (AZN)
Azerbaijan's official currency is the Manat (AZN), which is commonly abbreviated as AZN and represented by the symbol ₼. The Manat is comprised of 100 qəpik, which are smaller units of currency.
Historical Background
The original Azerbaijani Manat was first issued in 1919 but was replaced by the Soviet Ruble in 1923. The reintroduction of the Manat in 1992 was a significant step in post-Soviet Azerbaijan’s economic transformation. It signified the nation's departure from the Soviet economic system and was instrumental in laying the foundation for an independent monetary policy.
Design and Symbolism
The design of the Azerbaijani Manat incorporates elements that reflect Azerbaijan’s history, culture, and economic aspirations. Banknotes and coins feature prominent Azerbaijani figures, architectural landmarks, and symbols representing the country's rich cultural heritage and natural resources. These designs serve not only as a medium for financial transactions but also as reminders of the nation's unique identity and pride.
Economic Role
The Manat plays a central role in Azerbaijan’s economy, which is heavily influenced by oil and natural gas production. As the primary currency, it underpins the energy sector, which dominates the economy, and facilitates other key sectors like agriculture, manufacturing, and tourism. The stability of the Manat is crucial for the country's economic health and investor confidence.
Monetary Policy and Stability
Managed by the Central Bank of Azerbaijan, the Manat has experienced various challenges, including inflation and currency devaluation. The bank's monetary policies aim to stabilize the currency, control inflation, and foster a healthy economic environment conducive to growth and investment.
International Trade and the Azerbaijani Manat
In international trade, the stability of the Manat is crucial, particularly for Azerbaijan’s oil and gas exports. A stable Manat is vital for maintaining competitive prices in global markets and for managing the import of goods and services.
Remittances and Economic Impact
Remittances from Azerbaijanis living abroad, particularly in Russia, Turkey, and Europe, are a significant source of foreign income. These remittances, converted into Manats, support families and contribute to the national economy, providing a vital economic buffer.
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OCTO to AZN Conversion tables
Amount | 22:35 today | 24 hours ago | 24h change |
---|---|---|---|
0.5 OCTO | ₼0.2003 | ₼0.2115 | -5.40% |
1 OCTO | ₼0.4005 | ₼0.4230 | -5.40% |
5 OCTO | ₼2 | ₼2.11 | -5.40% |
10 OCTO | ₼4.01 | ₼4.23 | -5.40% |
50 OCTO | ₼20.03 | ₼21.15 | -5.40% |
100 OCTO | ₼40.05 | ₼42.3 | -5.40% |
500 OCTO | ₼200.25 | ₼211.5 | -5.40% |
1000 OCTO | ₼400.51 | ₼423 | -5.40% |
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