Turkmenistani manat
The manat (Turkmen: manat; abbreviation: m; code: TMT) is the currency of Turkmenistan. The original manat was introduced on 1 November 1993, replacing the rouble at a rate of 1 manat = Rbls 500.[1][failed verification] The manat is subdivided into 100 tenge (Turkmen: teňňe).
| Türkmen manady (Turkmen) | |
|---|---|
500 manat banknote | |
| ISO 4217 | |
| Code | TMT (numeric: 934) |
| Subunit | 0.01 |
| Unit | |
| Unit | manat |
| Plural | The language(s) of this currency do(es) not have a morphological plural distinction. |
| Symbol | m |
| Denominations | |
| Subunit | |
| 1⁄100 | tenge |
| Symbol | |
| tenge | t |
| Banknotes | |
| Freq. used | 1, 5, 10, 20, 50, and 100 manats |
| Rarely used | 500 manats |
| Coins | |
| Freq. used | 1, 2, 5, 10, 20, 50 tenge, 1, 2 manats |
| Demographics | |
| User(s) | Turkmenistan |
| Issuance | |
| Central bank | Central Bank of Turkmenistan |
| Website | www |
| Printer | De La Rue |
| Website | De La Rue |
| Mint | Royal Mint |
| Website | The Royal Mint |
| Valuation | |
| Inflation | 8.5% |
| Source | , 2012 est. |
| Pegged with | US dollar (USD) US$1 = 3.50 manats |
Due to heavy inflation a new manat was introduced on 1 January 2009 at the rate of 5,000 old manats to 1 new manat.[2]
Etymology
The word "manat" is derived from the Persian word "munāt" and the Russian word "монета" ("moneta") meaning "coin".[3] It was used as the name of the Soviet currency in Turkmen (Turkmen: манат) and in Azeri.
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 manats were introduced in 1999. All coins of this period had to depict the incumbent president by law.
| Coins of the Turkmenistan manat (First manat) | |||||||
|---|---|---|---|---|---|---|---|
| Image | Value | Diameter (millimeters) | Composition | Description | Date of issue | ||
| Obverse | Reverse | Obverse | Reverse | ||||
| 1 tenge | 16 mm | Copper-plated steel | Saparmurat Niyazov | Value in center of flower-like design within circle | 1993 | ||
| 5 tenge | 19.5 mm | ||||||
| 10 tenge | 22.5 mm | ||||||
| 20 tenge | 20.9 mm | Nickel-plated steel | Saparmurat Niyazov | Value in center of flower-like design within circle | 1993 | ||
| 50 tenge | 24 mm | Value above Cornucopia with a goat head | |||||
| 500 manats | 20.9 mm | Nickel-clad steel | Denomination, date below | 1999 | |||
| 1,000 manats | 24 mm | ||||||
| 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 struck in 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 are struck by the Royal Mint.
| Coins of the Turkmenistan manat (Second manat) | |||||||
|---|---|---|---|---|---|---|---|
| Image | Value | Diameter (millimeters) | Composition | Description | Date of issue | ||
| Obverse | Reverse | Obverse | Reverse | ||||
| 1 tenge | 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 tenge | 18 mm | ||||||
| 5 tenge | 20 mm | ||||||
| 10 tenge | 22 mm | Brass | |||||
| 20 tenge | 24 mm | ||||||
| 50 tenge | 26 mm | ||||||
| 1 manat | 27 mm | Bimetallic: copper-nickel center in brass ring | 2010 | ||||
| 2 manats | 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 (TMM, 1993—2009)
| 500 manat banknote of the first manat. | |
| ISO 4217 | |
|---|---|
| Code | TMM |
| Denominations | |
| Banknotes | 1, 5, 10, 20, 50, 100, 500, 1,000, 5,000, and 10,000 manats |
| Coins | 1, 2, 5, 10, 20, and 50 tenge, 500 and 1,000 manats |
| Demographics | |
| User(s) | Turkmenistan |
| Valuation | |
| Inflation | 992.39% |
| Source | Statista, 1996 est. |
| This infobox shows the latest status before this currency was rendered obsolete. | |
In 1993, manat notes were introduced in denominations of 1, 5, 10, 20, 50, 100, and 500 manats, replacing the Soviet rouble. These were followed by notes for 1,000 manats in 1995 and 5,000 and 10,000 manats in 1996. In 2005, a new series of notes was introduced in denominations of 50, 100, 500, 1,000, 5,000, and 10,000 manats. All notes, with exception of 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 | Obverse | Reverse | ||||||
| [1] | [2] | 1 manat | 120 x 60 mm | Orange and red | Ylymlar academy, Aşğabat | Ilarslanyn Yadygarligi mausoleum | 1993 | ||
| [3] | [4] | 5 manats | 125 x 62.5 mm | Blue | Bazcylyk Okuw Polytechnic Institute, Aşğabat | Abu Seyidiñ mausoleum | 1993 | ||
| [5] | [6] | 10 manats | 133 x 66 mm | Brown | Turkmenistan Relationship building (Aşğabat), President Saparmurat Niyazov (1940–2006) | Tekesiñ mausoleum | 1993 | ||
| [7] | [8] | 20 manats | 139 x 69 mm | Blue and white | National library (Aşğabat), President Saparmurat Niyazov | Astanababa mausoleum | 1993 1995 | ||
| [9] | [10] | 50 manats | 144 x 72 mm | Orange and brown | Soviet Honor monument, President Saparmurat Niyazov | Anew mosque | 1993 1995 | ||
| [11] | [12] | 100 manats | 150 x 75 mm | Blue and orange | Prezident Köşgi (President's Palace, Aşğabat), President Saparmurat Niyazov | Sultan Sanjariń mausoleum | 1993 1995 | ||
| [13] | [14] | 500 manats | 156 x 78 mm | Red and violet | National theatre (Aşğabat), President Saparmurat Niyazov | Törebeg Hanymyń mausoleum | 1993 1995 | ||
| [15] | [16] | 1,000 manats | 156 x 78 mm | Green and red | Prezident Köşgi (President's Palace, Aşğabat), President Saparmurat Niyazov | National emblem of Turkmenistan | 1995 | ||
| [17] | [18] | 5,000 manats | 156 x 78 mm | Violet | Prezident Köşgi (President's Palace, Aşğabat), President Saparmurat Niyazov | National emblem of Turkmenistan | 1996 | ||
| [19] | [20] | 10,000 manats | 156 x 78 mm | Blue and brown | Prezident Köşgi (President's Palace, Aşğabat), President Saparmurat Niyazov | National emblem of Turkmenistan | 1996 1999 2000 | ||
| [21] | [22] | Türkmenbaşi Köşgi (Turkmenbashi's Palace, Aşğabat), President Saparmurat Niyazov | Saparmurat Haji mosque | 1998 1999 | |||||
| [23] | [24] | Neutrality Monument, Ruhyýet Palace, Aşğabat | 2000 | ||||||
| [25] | [26] | 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 1 equal to 1,000 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 manats. Two new coins were also introduced in only two denominations, 500 and 1,000 manats. Both the first and second issue manat banknotes circulated in tandem until the issue of the redenominated issue in 2009.
| Image | Value | Dimensions | Main colour | Description | Date of | Ref. | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Obverse | Reverse | Obverse | Reverse | Watermark | printing | issue | withdrawal | |||||
| 50 manat | 144 × 72 mm | Purple | Emblem of Turkmenistan, Saparmurat Niyazov | Yanardag, Ashgabat Hippodrome | Saparmurat Niyazov and his signature | 2005 | c. 2005 | 31 December 2010 | [4] | |||
| 100 manat | 150 × 75 mm | Red | Emblem of Turkmenistan, Saparmurat Niyazov | Central Bank building, Ashgabat | Saparmurat Niyazov and his signature | 2005 | c. 2005 | 31 December 2010 | [4] | |||
| 500 manat | 156 × 78 mm | Brown | Emblem of Turkmenistan, Saparmurat Niyazov | Turkmen jewellery | Saparmurat Niyazov and his signature | 2005 | c. 2005 | 31 December 2010 | [4] | |||
| 1,000 manat | 156 × 78 mm | Green | Emblem of Turkmenistan, Saparmurat Niyazov | Oguzhan Presidential Palace, Ashgabat | Saparmurat Niyazov and his signature | 2005 | c. 2005 | 31 December 2010 | [4] | |||
| 5,000 manat | 156 × 78 mm | Blue | Emblem of Turkmenistan, Saparmurat Niyazov | Oguzhan Presidential Palace, Ashgabat | Saparmurat Niyazov and his signature | 2005 | c. 2005 | 31 December 2010 | [4] | |||
| These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table. | ||||||||||||
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 5,000 old manats = 1 new manat. Banknotes in this series were printed in denominations of 1, 5, 10, 20, 50, 100, and 500 manats. As part of an effort by the Turkmen government to dismantle Niyazov's extensive cult of personality and help politically disambiguate the current rule, only the highest valued banknote, 500 manats, bears a portrait of the former leader. The 500 manat note has yet to be 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.[5]
| Image | Value | Dimensions | Main colour | Description | Date of | Ref. | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Obverse | Reverse | Obverse | Reverse | Watermark | printing | issue | withdrawal | |||||
| 1 manat | 120 × 60 mm | Green and orange | Emblem of Turkmenistan, Togrul Beg Türkmen | Turkmenistan Cultural Centre, Ashgabat | Togrul Beg Türkmen, crescent moon and five stars from the flag, denomination |
| 1 January 2009 | Current | [6][7][8] | |||
| Same as above, with the 2017 Asian Indoor and Martial Arts Games logo | Ashgabat International Airport, TurkmenSat 1 | 2017 | 17 September 2017 | [9] | ||||||||
| Same as above, with the 25th anniversary of neutrality logo | Turkmenbashi International Seaport, TurkmenSat 1 | 2020 | 12 December 2020 | [10] | ||||||||
| 5 manat | 126 × 63 mm | Brown | Emblem of Turkmenistan, Soltan Sanjar Türkmen | Independence and Neutrality Monuments, Ashgabat | Soltan Sanjar Türkmen, crescent moon and five stars from the flag, denomination |
| 1 January 2009 | Current | [6][7] | |||
| Same as above, with the 2017 Asian Indoor and Martial Arts Games logo | Ashgabat Velodrome | 2017 | 17 September 2017 | [9] | ||||||||
| Same as above, with the 25th anniversary of neutrality logo | Independence and Neutrality Monuments, Ashgabat | 2020 | 12 December 2020 | [10] | ||||||||
| 10 manat | 132 × 66 mm | Red | Emblem of Turkmenistan, Magtymguly Pyragy | Central Bank building, Ashgabat | Magtymguly Pyragy, crescent moon and five stars from the flag, denomination |
| 1 January 2009 | Current | [6][7] | |||
| Same as above, with the 2017 Asian Indoor and Martial Arts Games logo | Martial Arts Arena, Ashgabat | 2017 | 17 September 2017 | [9] | ||||||||
| Same as above, with the 25th anniversary of neutrality logo | Central Bank building, Ashgabat | 2020 | 12 December 2020 | [10] | ||||||||
| 20 manat | 138 × 69 mm | Purple | Emblem of Turkmenistan, Görogly Beg Türkmen | Rukhyet Palace, Ashgabat | Görogly Beg Türkmen, crescent moon and five stars from the flag, denomination |
| 1 January 2009 | Current | [6][7] | |||
| Same as above, with the 2017 Asian Indoor and Martial Arts Games logo | Main Indoor Arena, Ashgabat | 2017 | 17 September 2017 | [9] | ||||||||
| Same as above, with the 25th anniversary of neutrality logo | Rukhyet Palace, Ashgabat | 2020 | 12 December 2020 | [10] | ||||||||
| 50 manat | 144 × 72 mm | Green | Emblem of Turkmenistan, Gorgut Ata Türkmen | Assembly of Turkmenistan building, Ashgabat | Gorgut Ata Türkmen, crescent moon and five stars from the flag, denomination |
| 1 January 2009 | Current | [6][8] | |||
| Same as above, with the 2017 Asian Indoor and Martial Arts Games logo | Indoor Athletics Arena, Ashgabat | 2017 | 17 September 2017 | [9] | ||||||||
| Same as above, with the 25th anniversary of neutrality logo | Assembly of Turkmenistan building, Ashgabat | 2020 | 12 December 2020 | [10] | ||||||||
| 100 manat | 150 × 75 mm | Blue | Emblem of Turkmenistan, Oguz Khan Türkmen | Oguzhan Presidential Palace, Ashgabat | Oguz Khan Türkmen, crescent moon and five stars from the flag, denomination |
| 1 January 2009 | Current | [6][8] | |||
| Same as above, with the 2017 Asian Indoor and Martial Arts Games logo | Olympic Stadium, Ashgabat | 2017 | 17 September 2017 | [9] | ||||||||
| Same as above, with the 25th anniversary of neutrality logo | Oguzhan Presidential Palace, Ashgabat | 2020 | 12 December 2020 | [10] | ||||||||
| 500 manat | 156 × 78 mm | Orange | Emblem of Turkmenistan, Saparmurat Niyazov | Türkmenbaşy Ruhy Mosque, Gypjak | Saparmurat Niyazov, crescent moon and five stars from the flag, denomination | 2009 | Never issued | [11] | ||||
| These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table. | ||||||||||||
Exchange rates
- Before Apr 2009: US$1 = 1.04 manat
- Apr 2009 - Jan 2015: US$1 = 2.85 manats
- Jan 2015 onwards: US$1 = 3.5 manats
A black market for exchange rate exists as cash exchanges are forbidden by law in Turkmenistan. The parallel exchange rate varied between 40–41m per U.S. dollar as of 10 April 2021[update].[12]
| Current TMT exchange rates | |
|---|---|
| From Google Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD RUB |
| From Yahoo! Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD RUB |
| From XE.com: | AUD CAD CHF CNY EUR GBP HKD JPY USD RUB |
| From OANDA: | AUD CAD CHF CNY EUR GBP HKD JPY USD RUB |
See also
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.
- ^ a b c d e . Central Bank of Turkmenistan (in Turkmen). Ashgabat. 17 March 2021. Archived from the original on 27 December 2022. Retrieved 27 December 2022.
- ^ Манаты без Туркменбаши, Аскар Турсунбаев, Гундогар (in Russian)
- ^ a b c d e f . Central Bank of Turkmenistan (in Turkmen). Ashgabat. 17 March 2021. Archived from the original on 27 December 2022. Retrieved 27 December 2022.
- ^ a b c d . Central Bank of Turkmenistan (in Turkmen). Ashgabat. 17 March 2021. Archived from the original on 27 December 2022. Retrieved 27 December 2022.
- ^ a b c . Central Bank of Turkmenistan (in Turkmen). Ashgabat. 17 March 2021. Archived from the original on 27 December 2022. Retrieved 27 December 2022.
- ^ a b c d e f . Central Bank of Turkmenistan (in Turkmen). Ashgabat. 17 March 2021. Archived from the original on 27 December 2022. Retrieved 27 December 2022.
- ^ a b c d e f . Central Bank of Turkmenistan (in Turkmen). Ashgabat. 17 March 2021. Archived from the original on 27 December 2022. Retrieved 27 December 2022.
- ^ Linzmayer, Owen (9 January 2009). . BanknoteNews. Virginia Beach. Archived from the original on 5 December 2021. Retrieved 27 December 2022.
- ^ "Currency Collapse Mirrors Turkmenistan's Extreme Economic Woes". RadioFreeEurope/RadioLiberty. Retrieved 2021-04-06.
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
| Preceded by: Russian rouble Reason: independence from the USSR Ratio: 1 first manat = 500 roubles | Currency of Turkmenistan 1 November 1993 – 31 December 2008 | Succeeded by: Second manat Reason: inflation Ratio: 1 second manat = 5,000 first manats |
| Preceded by: First manat Reason: inflation Ratio: 1 second manat = 5,000 first manats | Currency of Turkmenistan 1 January 2009 – | Succeeded by: Current |