Regulus K The currency exchange counter (near the Visa counter) by Kapital Bank before Baku Airport offers the best exchange rate of 1.697 AZN to 1 USD. In case you missed it (i.e., you already cleared customs), two banks at the arrival hall still offer decent rates at 1.67 and 1.66 to 1 USD, respectively.
Azerbaijan is probably one of the few countries where I would recommend exchanging at the airport instead of the city center. During my last visit, I compared the rate at the airport to the multiple attractions in the city center.
You may find the full exchange guide for your travel.
Determining A Good Rate Is Easy
Azerbaijan is fixing its local currency to USD at 1.7 AZN to 1 dollar. Based on my recent visit, the exchange rate to USD ranges from 1.65 to 1.69 something to 1 dollar. Most of the exchange shops or banks would land in the range of 1.66 – 1.68. So if you find a rate around 1.69. It is already the best rate.
Why I Prefer Exchange At Baku Airport
First, it has the best rate, remember the 1.69+ I mentioned? I have rarely seen another better-rate exchange shop after reviewing more than 20 in the whole of Baku.
Second, even if you missed the Kapital Bank, the two banks at arrival hall still offer decent rate. Or let’s say the difference is around 1 – 2 USD equivalent (1 or 2 %) per 100 USD.
And you will need cash immediately for the airport bus to city enter which is a lot cheaper and even faster than a taxi or bolt. By using the Baku airport bus, it saves you more than 20 USD. So it is totally worth it even if you pick the less favorable exchange shop at the airport. For more details about, the Baku Airport Bus feel free to check out our full review.
The Best Currency Exchange Rate In Baku City Center
If you have to exchange in the city center, two exchange shops also offer above 1.69 to 1 USD. The first one is Azerpoct near Baku Old City also offers 1.69+ AZN to USD. Sometimes they even offer 1.68 (better than the best in the airport), but they run out of AZN quickly and I could not exchange even 100 USD there at around 5 pm during my visit.
Alternatively, you can also use the Bank of Baku near the opposite side of the Waterfront market or the Carpet Museum. They offer close to or sometimes above 1.69 AZN to 1 USD.
24-Hour Exchange ATM
If you are doing an exchange outside of office hours (usually after 6 pm), then you may have to use an ATM. Despite, its convenience the exchange rate is not as good and you will be charged for 6 AZN (3.5 USD) per transaction.
24-Hour Exchange Shop
Alternatively, there are also a few (very few) exchange shops that operate 24 hours. For example, there is one called Valuta Mubadilesi Exchange near Fountain Square or Nizimai Street. The rate was still decent at 1.67 AZN to 1 USD and I had to exchange there last time before my Baku day tour which needs cash.
How Much Cash Needed
I exchanged for around 100 USD during my 3-day 2-night stay in Baku. It is more than enough. Most of the shops, supermarkets, restaurants, and museums in Baku accept credit cards.
The need for cash is basically first. You will need around 10 AZN for a transport card (2 AZN for the card deposit, 3.2 AZN for airport round trips and other public transport 0.5 AZN per ride). I would keep ~ USD 50 equivalent local currency, in case the card machine for museums or local restaurants is not working and I have to pay cash.
Around ~ 25 AZN (~ 15 USD) for the taxi to the mud volcano during the day tour.
The rest is for souvenir shops on the street, street food shops, and others. In fact, street food is very cheap in Baku where you can get a doner with yogurt milk for around 1 USD.
