Turkmenistan manat

Turkmenistan manat
	Türkmen manady (in Turkmen)
	Old 500 manat banknote of the first manat.
ISO 4217
Code	TMT
Denominations
Subunit
1/100	tenge (teňňe (in Turkmen))
Plural	The language(s) of this currency do(es) not have a morphological plural distinction.
Symbol	T
Banknotes	1, 5, 10, 20, 50, 100, 500 manat
Coins	1, 2, 5, 10, 20, 50 tenge, 1, 2 manat
Demographics
User(s)	Turkmenistan
Issuance
Central bank	Central Bank of Turkmenistan
Website	www.cbt.tm
Valuation
Inflation	8.5%
Source	The World Factbook, 2012 est.
Pegged with	U.S. dollar (USD) ; $1 USD = 3.50 TMT

The manat is the currency of Turkmenistan. It was introduced on 1 November 1993, replacing the Russian ruble at a rate of 1 manat = 500 rubles.[1] The ISO 4217 code was TMM, and the manat was subdivided into 100 tenge. The abbreviation m is sometimes used, e.g., 25 000 m is twenty-five thousand manat.

On 1 January 2009, the new manat was introduced with ISO 4217 code TMT at the rate of 5000 old manat to 1 new manat.[2]

Etymology

The word "manat" is borrowed from Persian word "munāt" and the Russian word "монета" ("moneta") meaning "coin".[3] Likewise, 'manat' was the name of the Soviet ruble in both Azeri and Turkmen.

Coins

In 1993, coins were introduced in denominations of 1, 5, 10, 20 and 50 tenge. The 1, 5 and 10 tenge were struck in copper-plated-steel, with the higher denominations in nickel-plated-steel. This first series of coins was short lived as their metal value soon became worth more than their actual face value. After a period of high inflation, new coins of 500 and 1,000 manat were introduced in 1999. All coins of this period had to depict a picture of the president by law.

Coins of the Turkmenistan manat (First manat)
Image		Value	Diameter (millimeters)	Composition	Description		Date of issue
Obverse	Reverse	Value	Diameter (millimeters)	Composition	Obverse	Reverse	Date of issue
		1 Teňňe	16 mm	Copper-plated steel	Saparmurat Niyazov	Value in center of flower-like design within circle	1993
		5 Teňňe	19.5 mm
		10 Teňňe	22.5 mm
		20 Teňňe	20.9 mm	Nickel-plated steel	Saparmurat Niyazov	Value in center of flower-like design within circle	1993
		50 Teňňe	24 mm	Nickel-plated steel		Value above Cornucopia with a goat head	1993
		500 Manat	20.9 mm	Nickel-clad steel		Denomination, date below	1999
		1000 Manat	24 mm	Nickel-clad steel		Denomination, date below	1999
These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.

During the monetary reform of 2009, new coins of 1, 2, 5, 10, 20 and 50 tenge were issued with bimetallic 1 and 2 manats following in 2010. The 1, 2, and 5 tenge are nickel-plated steel while the 10, 20, and 50 tenge are made of brass. Instead of depicting the current head of state the coins feature a map of Turkmenistan with the Independence Tower superimposed in front of it. All circulating coins of Turkmenistan have been minted by the Royal Mint.

Coins of the Turkmenistan manat (Second manat)
Image		Value	Diameter (millimeters)	Composition	Description		Date of issue
Obverse	Reverse	Value	Diameter (millimeters)	Composition	Obverse	Reverse	Date of issue
		1 Teňňe	16 mm	Nickel-plated steel	Monument of Independence superimposed on the map of Turkmenistan, the name of the national anthem.	Denomination and date	2009
		2 Teňňe	18 mm
		5 Teňňe	20 mm
		10 Teňňe	22 mm	Brass
		20 Teňňe	24 mm
		50 Teňňe	26 mm
		1 Manat	27 mm	Bimetallic: copper-nickel center in brass ring			2010
		2 Manat	28 mm	Bimetallic: brass center in copper-nickel ring			2010
These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.

Banknotes

First manat

In 1993, manat notes were introduced in denominations of 1-, 5-, 10-, 20-, 50-, 100 and 500 manat, replacing the Soviet ruble. These were followed by notes for 1,000 manat in 1995 and 5,000 and 10,000 manat in 1996. In 2005, a new series of notes was introduced in denominations of 50-, 100-, 500-, 1,000-, 5,000 and 10,000 manat. All notes, with exception to only the 1 and 5 manat banknotes bear a portrait of former president Saparmurat Niyazov. All Turkmen banknotes are produced by the De La Rue printing and banknote company.

Banknotes of the Turkmenistan manat (First manat)
Image		Value	Dimensions (millimeters)	Main Color	Description		Date of issue	Date of first issue	Watermark
Obverse	Reverse	Value	Dimensions (millimeters)	Main Color	Obverse	Reverse	Date of issue	Date of first issue	Watermark
		1 manat	120 x 60 mm	Orange and red	Ylymlar academy, Aşğabat	Ilarslanyn Yadygarligi mausoleum	1993
		5 manat	125 x 62.5 mm	Blue	Bazcylyk Okuw Polytechnic Institute, Aşğabat	Abu Seyidiñ mausoleum	1993
		10 manat	133 x 66 mm	Brown	Turkmenistan Relationship building (Aşğabat), President Saparmurat Niyazov	Tekesiñ mausoleum	1993
		20 manat	139 x 69 mm	Blue and white	National library (Aşğabat), President Saparmurat Niyazov	Astanababa mausoleum	1993 1995
		50 manat	144 x 72 mm	Orange and brown	Soviet Honor monument, President Saparmurat Niyazov	Anew mosque	1993 1995
		100 manat	150 x 75 mm	Blue and orange	Prezident Köşgi (President's Palace, Aşğabat), President Saparmurat Niyazov	Sultan Sanjariń mausoleum	1993 1995
		500 manat	156 x 78 mm	Red and violet	National theatre (Aşğabat), President Saparmurat Niyazov	Törebeg Hanymyń mausoleum	1993 1995
		1,000 manat	156 x 78 mm	Green and red	Prezident Köşgi (President's Palace, Aşğabat), President Saparmurat Niyazov	National emblem of Turkmenistan	1995
		5,000 manat	156 x 78 mm	Violet	Prezident Köşgi (President's Palace, Aşğabat), President Saparmurat Niyazov	National emblem of Turkmenistan	1996
		10,000 manat	156 x 78 mm	Blue and brown	Prezident Köşgi (President's Palace, Aşğabat), President Saparmurat Niyazov	National emblem of Turkmenistan	1996 1999 2000
					Türkmenbaşi Köşgi (Turkmenbashi's Palace, Aşğabat), President Saparmurat Niyazov	Saparmurat Haji mosque	1998 1999
						Neutrality Monument, Ruhyýet Palace, Aşğabat	2000
				Light brown		Monument of Independence and Peace, Aşğabat	2003 2005

First manat (Second Issue)

In 2005, a new series of manat banknotes was introduced. They had originally been intended to replace the first manat at a fixed rate, with 1000 equal to 1 of the first manat, but the revaluation was postponed and this issue was released to circulate with previous manat issues. The series of notes was introduced in denominations of 50-, 100-, 500-, 1,000-, 5,000 and 10,000 manat. Two new coins were also introduced in only two denominations, 500 and 1,000 manat. Both the first and second issue manat banknotes circulated in tandem until the issue of the Second Manat (revalued) issue in 2009.

Banknotes of the Turkmenistan manat (First manat, second issue)
Image		Value	Dimensions (millimeters)	Main Color	Description		Date of issue	Date of first issue	Watermark
Obverse	Reverse	Value	Dimensions (millimeters)	Main Color	Obverse	Reverse	Date of issue	Date of first issue	Watermark
		50 manat	156 x 78 mm	Violet	President Saparmurat Niyazov	Golden Horse "Yanardag" of the Achalteks	2005
		100 manat	156 x 78 mm	Red	President Saparmurat Niyazov	Central Bank building, Aşğabat	2005
		500 manat	156 x 78 mm	Brown	President Saparmurat Niyazov	Turkmen jewelry	2005
		1,000 manat	156 x 78 mm	Green	President Saparmurat Niyazov	Türkmenbaşi Köşgi (Turkmenbashi's Palace, Aşğabat)	2005
		5,000 manat	156 x 78 mm	Blue	President Saparmurat Niyazov	Türkmenbaşi Köşgi (Turkmenbashi's Palace, Aşğabat)	2005

Second manat

After hyperinflation significantly devalued the currency, a new manat with a fixed exchange rate was introduced, replacing the old manat on a ratio of 5000 OM = 1 NM. Banknotes in this series were printed in denominations of 1-, 5-, 10-, 20-, 50-, 100, and 500 new manat. As part of an effort by the Turkmen government to dismantle the Niyazov cult of personality and help politically disambiguate the current rule, only the highest valued banknote, 500 manat, bears a portrait of the former leader. The 500 manat notes have not yet been released into circulation. The other denominations feature images of buildings in Ashgabat or technological achievements (TurkmenSat 1) and portraits of Ahmed Sanjar, Oghuz Khan, Magtymguly Pyragy and other figures in Turkmen history.[4]

Images of the third manat.

Banknotes of the third manat
Image		Value	Dimensions (millimeters)	Main Color	Description		Date of issue	Date of first issue	Watermark
Obverse	Reverse	Value	Dimensions (millimeters)	Main Color	Obverse	Reverse	Date of issue	Date of first issue	Watermark
		1 manat	120 x 60 mm	Light green	Emblem of Turkmenistan; Togrul Beg Türkmen (aka Tugrul Bey)	Beyik Saparmyrat Türkmenbaşynyň Milli Medeniyet Merkezi (National Cultural Centre of Great Saparmurat Turkmenbashi), Aşğabat	2012	January 1, 2009	Togrul Beg Türkmen, electrotype Crescent moon, five five-pointed stars and 1
		1 manat	120 x 60 mm	Light green	Emblem of Turkmenistan; Togrul Beg Türkmen (aka Tugrul Bey); logo of the 5th Asian Indoor & Martial Arts Games	Ashgabat International Airport (Aşgabadyň Halkara Howa Menzili), Aşğabat; TürkmenÄlem Sat, or TurkmenSat 1	2017	January 1, 2017
		5 manat	126 x 63 mm	Tan	Emblem of Turkmenistan; Soltan Sanjar Türkmen	Garaşsyzlyk Binasy (Independence monument), Bitaraplyk Binasy (Neutrality monument), Aşğabat	2012	January 1, 2009	Soltan Sansar Türkmen, electrotype Crescent moon, five five-pointed stars and 5
		5 manat	126 x 63 mm	Tan
		Emblem of Turkmenistan; Soltan Sanjar Türkmen; logo of the 5th Asian Indoor & Martial Arts Games	Velodrome (Welotrek Sport Toplumy), Aşğabat; Aşğabat Monorail	2017	January 1, 2017
		10 manat	132 x 66 mm	Red	Emblem of Turkmenistan; Magtymguly Pyragy	Central Bank building, Aşğabat	2012	January 1, 2009	Magtymguly Pyragy, electrotype Crescent moon, five five-pointed stars and 10
		10 manat	132 x 66 mm	Red	Emblem of Turkmenistan; Magtymguly Pyragy; logo of the 5th Asian Indoor & Martial Arts Games	Boxing Sports Hall (Başa Baş Söweş Sungaty Sport Toplumy), Aşğabat	2017	January 1, 2017
		20 manat	138 x 69 mm	Purple	Emblem of Turkmenistan; Görogly Beg Türkmen (aka Köroğlu)	Ruhyýet Köşgi (Palace of Spirituality), Aşğabat	2012	January 1, 2009	Görogly Beg Türkmen, electrotype Crescent moon, five five-pointed stars and 20
		20 manat	138 x 69 mm	Purple	Emblem of Turkmenistan; Görogly Beg Türkmen (aka Köroğlu); logo of the 5th Asian Indoor & Martial Arts Games	Complex of Game Sports (Sportuň Oýun Görnüşlöriniň Toplumy), Aşğabat	2017	January 1, 2017
		50 manat	144 x 72 mm	Cyan	Emblem of Turkmenistan; Gorgut Ata Türkmen (aka Dede Korkut)	Türkmenistanyň Mejlisi (National Assembly of Turkmenistan), Aşğabat	2009	January 1, 2009	Gorkut Ata Türkmen, electrotype Crescent moon, five five-pointed stars and 50
		50 manat	144 x 72 mm	Cyan
		Emblem of Turkmenistan; Gorgut Ata Türkmen (aka Dede Korkut); logo of the 5th Asian Indoor & Martial Arts Games	New Athletics Complex (Ýeňil Atletika Toplumy), Aşğabat	2017	January 1, 2017
		100 manat	150 x 75 mm	Blue	Emblem of Turkmenistan; Oguz Khan Türkmen	"Oguzhan" Köşkler Toplumy (Oguzkhan Palace), Aşğabat	2014	January 1, 2009	Oguz Khan Türkmen, electrotype Crescent moon, five five-pointed stars and 100
		100 manat	150 x 75 mm	Blue
		Emblem of Turkmenistan; Oguz Khan Türkmen; logo of the 5th Asian Indoor & Martial Arts Games	Aşğabat Olympia Stadium, Aşğabat	2017	January 1, 2017
		500 manat	156 x 78 mm	Gold	Emblem of Turkmenistan; Saparmurat Niyazov	Kypçak Metjidi (Kipchak Mosque)	2009	TBA	President Saparmurat Niyazov, flag, and electrotype 500
These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table.

Exchange rates

Before Apr 2009: $1 = 1.04 TMT
Apr 2009 - Jan 2015: $1 = 2.85 TMT
Jan 2015 onwards: $1 = 3.5 TMT

A black market for exchange rate exists as cash exchanges are forbidden by law in Turkmenistan. The parallel exchange rate varied between 31 and 32 manat per U.S. dollar as of 28 January 2021.[5][6]

Current TMT exchange rates
From Google Finance:	AUD CAD CHF EUR GBP HKD JPY USD RUB CNY
From Yahoo! Finance:	AUD CAD CHF EUR GBP HKD JPY USD RUB CNY
From XE.com:	AUD CAD CHF EUR GBP HKD JPY USD RUB CNY
From OANDA:	AUD CAD CHF EUR GBP HKD JPY USD RUB CNY
From fxtop.com:	AUD CAD CHF EUR GBP HKD JPY USD RUB CNY

Notes

Linzmayer, Owen (2012). "Turkmenistan". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
"Turkmenistan's 5000 manat to equal 1 manat after denomination". 2008-09-06.
"Definition of Manat". Dictionary by Merriam-Webster. Retrieved 19 March 2018.
Манаты без Туркменбаши, Аскар Турсунбаев, Гундогар (in Russian)
"28 января курс доллара на «черном рынке» Ашхабада достигал 31 маната". Хроника Туркменистана (in Russian). 2021-01-28. Retrieved 2021-02-06.
"Turkmen Buy Foreign Currency On Black Market As Manat Falls Sharply". RadioFreeEurope/RadioLiberty. Retrieved 2021-02-06.

References

Krause, Chester L.; Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501.
Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.

External links

New currency samples - images of the new 2009 Manat
Coins of Turkmenistan at CISCoins.net

First manat
Preceded by: Russian ruble Reason: independence from the USSR Ratio: 1 first manat = 500 rubles	Currency of Turkmenistan 1 November 1993 – 31 December 2008	Succeeded by: Second manat Reason: inflation Ratio: 1 second manat = 5000 first manat

Second manat
Preceded by: First manat Reason: inflation Ratio: 1 second manat = 5000 first manat	Currency of Turkmenistan 1 January 2009 –	Succeeded by: Current

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[1] Linzmayer, Owen (2012). "Turkmenistan". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.

[2] "Turkmenistan's 5000 manat to equal 1 manat after denomination". 2008-09-06.

[3] "Definition of Manat". Dictionary by Merriam-Webster. Retrieved 19 March 2018.

[4] Манаты без Туркменбаши, Аскар Турсунбаев, Гундогар (in Russian)

[5] "28 января курс доллара на «черном рынке» Ашхабада достигал 31 маната". Хроника Туркменистана (in Russian). 2021-01-28. Retrieved 2021-02-06.

[6] "Turkmen Buy Foreign Currency On Black Market As Manat Falls Sharply". RadioFreeEurope/RadioLiberty. Retrieved 2021-02-06.

Currencies of Asia
Central	Kazakhstani tenge Kyrgyzstani som Tajikistani somoni Turkmenistan manat Uzbekistani soʻm
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