Redenomination of Azerbaijani Manat

Date: February 7, 2005 • Location: Rome, Italy

President Ilham Aliyev issued a decree on the redenomination of Azerbaijan's currency, with 1 new manat equal to 5000 old manats.

Ilham Heydar oghlu Aliyev is an Azerbaijani politician and statesman who has been the fourth president of Azerbaijan since 2003. He is the son of the previous president, Heydar Aliyev, and has led the New Azerbaijan Party since 2005.