Money in Baku
Currency exchange and ATMs in Baku: rates, fees and checks
The official rate is a benchmark, not a quote. Here is how to check the real buy and sell rates, licensed offices, fees and receipts before you exchange or withdraw.
Short answer
Start with the Central Bank's published AZN rate as a reference, not as the rate you will receive. Then verify the provider's displayed buy and sell rates, any fees, and the receipt before handing over cash. For ATMs, check the machine's own fee notice and your card issuer's charges.
Four checks before you exchange or withdraw
Use these checks in order. They separate the official reference rate from the rate actually offered, and they help you confirm the provider, fees, receipt and cash needs before you commit.
Check the Central Bank reference rate first
Open the Central Bank's currency rates page and note the official AZN rate for your currency. The regulator says the most recently published rate remains in effect when no new rate is issued on weekends or public holidays. Treat this as a benchmark only; it is not the cash rate offered to a customer.
Verify the exchange office is licensed
The Central Bank maintains a public register of licences for currency exchange offices. Before using an office, check the register to confirm it is licensed. The register does not tell you whether the office is open, has cash, or offers a good rate, so use it only as a verification step.
Compare displayed buy and sell rates and fees
At the office or ATM, look for the displayed buy and sell rates. The regulator pages do not establish a particular provider's current spread, cash stock, queue, fee, denomination policy or ATM charge. Ask for the total amount you will receive after any fees, and compare it with the reference rate.
Get a receipt and confirm your cash needs
Before you hand over money, confirm the amount you will receive in manat, the exchange rate applied, and any commission. Ask for a printed or digital receipt. Also check the denominations you need, because the regulator pages do not state a provider's denomination policy or cash stock.
Official rate vs. the rate you actually get
The Central Bank publishes official AZN currency rates on its website. The regulator notes that the most recently published rate remains in effect when no new rate is issued on weekends or public holidays. This official rate is a reference point for the market, not a retail quote. Exchange offices and banks set their own buy and sell rates, which include a spread and possibly a commission.
When you compare rates, do not expect to receive the official rate. Instead, use it to judge whether a provider's offer is reasonable. A small difference from the official rate is normal; a large difference may mean high fees or a poor rate. Always ask for the total amount you will receive after all charges.
Licensed exchange offices and how to verify them
The Central Bank says it maintains a public register of licences for currency exchange offices. You can use this register to check whether an office is licensed before you exchange money. The register is a regulatory verification route; it does not tell you whether a particular office is open, has cash, or offers a competitive rate.
To use the register, find the office's name or licence number and check it against the Central Bank's list. If an office is not on the register, consider using a different provider. Remember that a licence does not guarantee a good rate or low fees, so still compare the displayed buy and sell rates before you commit.
ATM withdrawals and planning your cash
ATMs in Baku may charge a fee, and your card issuer may add its own foreign transaction or withdrawal fee. The supplied regulator pages do not establish a particular ATM's charge, so check the machine's on-screen fee notice before confirming. Also check your card issuer's fee schedule in advance.
Plan how much cash you need, because exchange offices and ATMs may have limits on denominations or cash stock. The regulator pages do not state a provider's denomination policy or cash stock, so ask before you exchange a large amount. Carrying a mix of small and large manat notes can help with everyday purchases.
Frequently asked questions
Is the Central Bank rate the rate I will get?
No. The Central Bank publishes an official reference rate, but exchange offices and banks set their own buy and sell rates. The official rate is a benchmark, not a retail quote. Always ask for the total amount you will receive after fees.
How can I check if an exchange office is licensed?
The Central Bank maintains a public register of licences for currency exchange offices. Check the office's name or licence number against this register before you exchange. The register does not confirm opening hours, cash availability or rates.
Do ATMs in Baku charge fees?
Some ATMs may charge a fee, and your card issuer may add its own charges. The regulator pages do not list specific ATM fees, so check the machine's on-screen notice and your card issuer's fee schedule before withdrawing.
What should I check before handing over cash?
Confirm the exchange rate applied, any commission, and the total amount you will receive in manat. Ask for a receipt. Also check the denominations you need, because the regulator pages do not state a provider's denomination policy or cash stock.
Does the official rate change on weekends?
The Central Bank says the most recently published rate remains in effect when no new rate is issued on weekends or public holidays. So the official rate may stay the same until the next business day.
Can I rely on the licensed register to find a good rate?
No. The register only confirms that an office is licensed. It does not show current buy and sell rates, fees, cash stock or opening hours. You still need to compare rates and ask about fees at the office.