1 USD to AZN - Convert US Dollar to Azerbaijani Manat

Looking at the 30-day window, the USD/AZN pair traded in a range of 1.6448 to 1.7413. The monthly average was 1.6929 with 1.7% volatility. This downward movement of 2.2% suggests significant momentum in the USD/AZN exchange rate.

The current mid-market exchange rate is 1 USD = 1.6993 AZN, updated as of June 3, 2026, 11:46 PM UTC. Mid-market rates represent the fairest available rate and are the midpoint between buy and sell prices on global currency markets. Actual transaction rates from banks or money transfer services may include a markup above this rate.

US Dollar to Azerbaijani Manat Exchange Rate

Azerbaijan is a Caspian Sea oil producer that pegs its manat to the US dollar at approximately 1.70 AZN per dollar. The peg is supported by the country's oil and gas export revenues, primarily from the massive Shah Deniz gas field and the Baku-Tbilisi-Ceyhan oil pipeline. The State Oil Fund of Azerbaijan (SOFAZ) holds over $45 billion in assets, providing a financial buffer for the currency.

The Caspian Petro-State

Azerbaijan's economy revolves around hydrocarbons. Oil and gas account for roughly 90% of exports and over 50% of government revenue. The country's strategic position on the Caspian Sea and its pipeline infrastructure connecting to Turkey and Europe give it outsized geopolitical importance. The Southern Gas Corridor, bringing Azerbaijani gas to European markets, became strategically important after Europe sought to reduce dependence on Russian energy. Baku, the capital, is a striking blend of medieval old city (UNESCO World Heritage), Soviet-era blocks, and futuristic architecture including the Flame Towers and Heydar Aliyev Center designed by Zaha Hadid. The Formula 1 Azerbaijan Grand Prix has put Baku on the global stage. For visitors and the Azerbaijani diaspora, the dollar peg provides predictable conversion. The manat was devalued twice in 2015 when oil prices collapsed, losing roughly half its value. The current peg has held since then, supported by recovered oil prices and the SOFAZ reserve. For American oil workers and consultants who staff the international energy companies operating in Baku, USD/AZN is a straightforward conversion with minimal uncertainty thanks to the peg.

What Drives the USD/AZN Rate

The rate is pegged at approximately 1.70. Oil prices determine the long-term sustainability of the peg. SOFAZ reserve levels, government fiscal policy, and geopolitical stability in the South Caucasus are the background factors. The peg would face pressure only in a sustained oil price collapse below $30-40 combined with depletion of the sovereign fund.

What a Conversion Really Costs

Banks charge 0.5-2%. Exchange offices in Baku offer 0.3-1%. The peg makes rates predictable. ATMs are widely available in Baku but less common outside the capital. US dollars are the most commonly exchanged foreign currency. For transfers, limited online services cover the Azerbaijan corridor.

How to Get the Best USD to AZN Rate

With a pegged rate, focus on fees. Exchange offices in central Baku beat banks. For travelers, carry dollars for the best exchange experience. Card acceptance is growing in Baku but cash is needed in regional areas and bazaars.