Understanding currency fluctuations is essential for international trade, travel, and investment. This comprehensive guide details the Azerbaijani Manat (AZN) to US Dollar (USD) exchange rate throughout 2024. With minimal volatility observed over the year, this analysis offers valuable insights into one of the most stable currency pairings in the region.
Key Exchange Rate Summary for AZN to USD in 2024
The Azerbaijani Manat maintained remarkable stability against the US Dollar throughout 2024. Here are the key highlights:
- Highest Rate: 0.5882 USD on January 1, 2024
- Lowest Rate: 0.5864 USD on April 12, 2024
- Average Rate: 0.5882 USD over the year
Despite minor dips, the exchange rate remained largely consistent, reflecting strong monetary policy and economic resilience in Azerbaijan.
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Monthly Breakdown of AZN to USD Exchange Rates
January 2024
The year began with a strong opening rate of 1 AZN = 0.5882 USD, which held steady for most of the month. A slight dip occurred on January 5, when the rate dropped to 0.5864 USD, marking the lowest point of the early year. However, it quickly rebounded and stabilized.
Monthly Summary:
- Best Rate: ₼1 = $0.5882
- Worst Rate: ₼1 = $0.5864
- Average: ₼1 = $0.5882
February 2024
February saw complete stability, with every recorded day maintaining the 0.5882 USD rate. No fluctuations were observed, indicating strong market confidence at the start of the quarter.
Monthly Summary:
- Best/Worst/Average: ₼1 = $0.5882
March 2024
Similar to February, March was mostly stable. The rate dipped briefly on March 22 to 0.5864 USD, matching the year’s lowest point, before returning to 0.5882 USD for the remainder of the month.
Monthly Summary:
- Best Rate: ₼1 = $0.5882
- Worst Rate: ₼1 = $0.5864
- Average: ₼1 = $0.5881
April 2024
April recorded the lowest exchange rate of the year on April 12 at 0.5864 USD, but otherwise remained fixed at 0.5882 USD across all other trading days.
Monthly Summary:
- Best/Worst/Average: ₼1 = $0.5882 (except April 12)
May Through December 2024
From May onward, the exchange rate stabilized completely at 1 AZN = 0.5882 USD with no further deviations. Each month—June, July, August, September, October, November, and December—recorded uniform rates across all business days.
This unprecedented consistency underscores Azerbaijan’s effective foreign exchange management and pegged currency regime.
Understanding the Stability of the AZN/USD Pair
The Azerbaijani Manat has been pegged to the US Dollar since 2015, following a period of devaluation due to falling oil prices. Since then, the Central Bank of Azerbaijan has maintained tight control over monetary policy, ensuring minimal fluctuations.
This peg contributes to:
- Predictable import/export pricing
- Reduced inflationary pressures
- Enhanced investor confidence
As a resource-rich nation with significant oil and gas exports, Azerbaijan benefits from dollar-denominated revenues, further reinforcing its ability to maintain a stable exchange rate.
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Frequently Asked Questions (FAQs)
What was the average Azerbaijani Manat to US Dollar exchange rate in 2024?
The average exchange rate in 2024 was 1 AZN = 0.5882 USD, reflecting exceptional stability throughout the year.
What was the highest AZN to USD exchange rate in 2024?
The highest rate was 0.5882 USD, first seen on January 1 and maintained for most of the year.
What was the lowest AZN to USD exchange rate in 2024?
The lowest point was 0.5864 USD, recorded on January 5, March 22, and April 12.
Why did the AZN/USD rate remain so stable in 2024?
Azerbaijan maintains a managed exchange rate regime, with the Central Bank actively intervening to stabilize the Manat against major currencies like the US Dollar.
Is the Azerbaijani Manat pegged to the US Dollar?
Yes, since 2015, the Manat has operated under a semi-pegged system to maintain economic stability amid fluctuating energy markets.
How can I check live AZN to USD rates today?
You can use trusted financial platforms that offer real-time currency conversion tools and historical data analysis.
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Final Thoughts
The Azerbaijani Manat to US Dollar exchange rate in 2024 exemplifies macroeconomic stability. With only minor fluctuations early in the year and complete consistency thereafter, it stands as a model of effective currency management in an emerging economy.
For travelers, businesses, or investors dealing with Azerbaijani currency, this predictability simplifies financial planning and reduces risk exposure.
As global markets evolve, monitoring such stable pairs provides insight into how nations balance external shocks with internal monetary discipline.