Turkmenistan manat

Turkmenistan manat
Türkmen manady (Turkmen)
Old 500 manat banknote of the first manat.
ISO 4217 code	TMT
Central bank	Central Bank of Turkmenistan
Website	www.cbt.tm
User(s)	Turkmenistan
Inflation	8.5%
Source	The World Factbook, 2012 est.
Subunit
1/100	tenge (teňňe (Turkmen))
Symbol	T
Plural	manat
tenge (teňňe (Turkmen))	tenge (teňňe (Turkmen))
Coins	1, 2, 5, 10, 20, 50 tenge, 1, 2 manat
Banknotes	1, 5, 10, 20, 50, 100 manat

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 January 1, 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 the Russian word "монета" "moneta" meaning "coin". 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.

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.

1 tenge coin
5 tenge coin
10 tenge coin

20 tenge coin
50 tenge coin

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 manats bear a portrait of former president Saparmurat Niyazov. All Turkmen banknotes are produced by the De La Rue printing and banknote company.

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 the issue 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.

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. The banknotes are 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 and portraits of Ahmed Sanjar, Oghuz Khan, Magtymguly Pyragy and other figures in Turkmen history.^[3]
Images of new notes:

Banknotes of the third manat
Image	Value	Dimensions	Main Color	Description		Date of issue	Date of first issue	Watermark
Image	Value	Dimensions	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	2009	January 1, 2009	Togrul Beg Türkmen, flag, and electrotype 1
	5 manat	126 x 63 mm	Tan	Emblem of Turkmenistan; Soltan Sanjar Türkmen	Garaşsyzlyk Binasy (Independence monument), Bitaraplyk Binasy (Neutrality monument), Aşğabat	2009	January 1, 2009	Soltan Sansar Türkmen, flag, and electrotype 5
	10 manat	132 x 66 mm	Red	Emblem of Turkmenistan; Magtymguly Pyragy	Central Bank building, Aşğabat	2009	January 1, 2009	Magtymguly Pyragy, flag, and electrotype 10
	20 manat	138 x 69 mm	Purple	Emblem of Turkmenistan; Görogly Beg Türkmen (aka Köroğlu)	Ruhyýet Köşgi (Palace of Spirituality), Aşğabat	2009	January 1, 2009	Görogly Beg Türkmen, flag, and electrotype 20
	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, flag, and electrotype 50
	100 manat	150 x 75 mm	Blue	Emblem of Turkmenistan; Oguz Khan Türkmen	Prezident Köşgi (President’s Palace), Aşğabat	2009	January 1, 2009	Oguz Han Türkmen, flag, and electrotype 100
	100 manat	150 x 75 mm	Blue	Emblem of Turkmenistan; Oguz Khan Türkmen	"Oguzhan" Köşkler Toplumy (Oguz Han palace), Aşğabat	2014	January 1, 2014	Oguz Khan Türkmen, flag, and electrotype 100
	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

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:	AUD CAD CHF EUR GBP HKD JPY USD RUB CNY
From TransferWise:	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
From Currency.Wiki:	AUD CAD CHF EUR GBP HKD JPY USD RUB CNY

References

Krause, Chester L., and 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.

Footnotes

↑ 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.
↑ Манаты без Туркменбаши, Аскар Турсунбаев, Гундогар (Russian)

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 Soviet Union Ratio: 1 first manat = 500 rubles	Currency of Turkmenistan November 1, 1993 – December 31, 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 January 1, 2009 –	Succeeded by: Current

Currencies of Asia

Central	Kazakhstani tenge Kyrgyzstani som Tajikistani somoni Turkmenistan manat Uzbekistani som

East	Chinese yuan Hong Kong dollar Japanese yen North Korean won South Korean won Macanese pataca Mongolian tögrög New Taiwan dollar

North	Russian ruble

South	Bangladeshi taka Bhutanese ngultrum Indian rupee Maldivian rufiyaa Nepalese rupee Pakistani rupee Sri Lankan rupee U.S. dollar British Indian Ocean Territory

Southeast	Brunei dollar Burmese kyat Cambodian riel East Timorese centavo Indonesian rupiah Lao kip Malaysian ringgit Philippine peso Singapore dollar Thai baht U.S. dollar Cambodia East Timor Vietnamese đồng

West	Abkhazian apsar unrecognized Afghan afghani Armenian dram Azerbaijani manat Bahraini dinar Egyptian pound Gaza Strip Euro Cyprus Georgian lari Iranian rial Iraqi dinar Israeli new shekel Jordanian dinar Kuwaiti dinar Lebanese pound Nagorno-Karabakh dram unrecognized Omani rial Russian ruble Abkhazia South Ossetia Qatari riyal Saudi riyal Syrian pound Turkish lira UAE dirham Yemeni rial

Currencies of post-Soviet states

In circulation	Abkhazian apsar (unrecognized) Armenian dram Azerbaijani manat Belarusian ruble Euro (Estonia, Latvia and Lithuania) Georgian lari Kazakhstani tenge Kyrgyzstani som Moldovan leu Nagorno-Karabakh dram (unrecognized) Russian ruble (Russia and Abkhazia (unrecognized) and South Ossetia (unrecognized)) Tajikistani somoni Transnistrian ruble (unrecognized) Turkmenistan manat Ukrainian hryvnia Uzbekistani som

Obsolete	Chechen naxar (unrecognized) Estonian kroon Georgian kupon lari Latvian rublis Latvian lats Lithuanian litas Lithuanian talonas Moldovan cupon Soviet ruble Tajikistani ruble Ukrainian karbovanets

Future	New Belarusian ruble

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