Local Currency and Exchange Information

The official currency in Baku, Azerbaijan is the Azerbaijani Manat (AZN). As of October 2023, the exchange rate is approximately 1 USD = 1.7 AZN, but this may fluctuate, so it's advisable to check current rates before your trip.

• Currency Notes: Banknotes come in denominations of 1, 5, 10, 20, 50, and 100 manat.
• Exchanging Money: You can exchange your currency at banks, exchange offices, and hotels. However, banks often offer better rates.
• ATMs: Widely available in urban areas, ATMs typically accept international cards and dispense AZN. Look for machines affiliated with major networks like Visa and Mastercard.

Payment Methods and Banking Options

Baku is increasingly accommodating to cashless payments. Here's what you need to know:

• Credit and Debit Cards: Visa and Mastercard are widely accepted in hotels, restaurants, and shops. However, smaller establishments may only accept cash.
• Mobile Payments: Popular apps like Apple Pay and Google Pay may be accepted in some places, but it’s best to have a backup payment method.
• Banking Hours: Most banks are open Monday to Friday from 9 AM to 5 PM, with some open on Saturdays.

Tipping Customs and Payment Etiquette

Tipping in Baku is appreciated but not mandatory. Here are some guidelines:

• Restaurants: Leaving a tip of about 10% to 15% is customary if service is not included in the bill.
• Taxi Drivers: Rounding up the fare is common practice.
• Hotels: For bellhops and housekeeping, a small tip (1-5 AZN) is appreciated.

Cost Considerations and Budgeting Tips

Understanding the cost of living in Baku can help you budget effectively:

• Accommodation: Prices can range from budget hostels (20-30 AZN/night) to luxury hotels (150 AZN and up).
• Food: A meal at an inexpensive restaurant averages around 15-30 AZN, while a three-course meal for two at a mid-range restaurant can cost 60-100 AZN.
• Transportation: Public transport is affordable, with metro fares at around 0.30 AZN. Taxis are also reasonably priced but confirm the fare beforehand.

Practical Financial Advice for Travelers

To ensure a smooth financial experience in Baku, consider the following tips:

• Notify Your Bank: Inform your bank of your travel plans to avoid any issues with your cards.
• Carry Some Cash: Always have a small amount of cash on hand for small purchases or in areas where cards are not accepted.
• Monitor Exchange Rates: Use a reliable currency conversion app to keep track of rates and avoid unfavorable exchanges.
• Keep Receipts: If you plan to exchange leftover manat back to your home currency, retaining receipts may help with smoother transactions.