Turkmen manat

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The manat (Template:Langx; 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]Script error: No such module "Unsubst". The manat is subdivided into 100 tenge (Template:Langx).

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 Russian word монета ("moneta") meaning "coin," which derived from Latin Monēta.[3] It was used as the name of the Soviet currency in Turkmen (Template:Langx) and in Azerbaijani.

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 Turkmen manat (First manat)
Image Value Diameter (millimeters) Composition Description Date of issue
Obverse Reverse Obverse Reverse
File:Coins of Turkmenistan 05.jpg File:Coins of Turkmenistan 06.jpg 1 tenge 16 mm Copper-plated steel Saparmurat Niyazov Value in center of flower-like design within circle 1993
File:Coins of Turkmenistan 07.jpg File:Coins of Turkmenistan 08.jpg 5 tenge 19.5 mm
File:Coins of Turkmenistan 09.jpg File:Coins of Turkmenistan 10.jpg 10 tenge 22.5 mm
File:Coins of Turkmenistan 03.jpg File:Coins of Turkmenistan 04.jpg 20 tenge 20.9 mm Nickel-plated steel Saparmurat Niyazov Value in center of flower-like design within circle 1993
File:Coins of Turkmenistan 13.jpg File:Coins of Turkmenistan 14.jpg 50 tenge 24 mm Value above Cornucopia with a goat head
File:Coins of Turkmenistan 11.jpg File:Coins of Turkmenistan 12.jpg 500 manat 20.9 mm Nickel-clad steel Denomination, date below 1999
File:Coins of Turkmenistan 01.jpg File:Coins of Turkmenistan 02.jpg 1,000 manat 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 Turkmen manat (Second manat)
Image Value Diameter (millimeters) Composition Description Date of issue
Reverse Obverse Reverse Obverse
File:Coin of Turkmenistan 05.jpg File:Coin of Turkmenistan 06.jpg 1 tenge 16 mm Nickel-plated steel Monument of Independence superimposed on the map of Turkmenistan, the text Template:Langx, meaning "Independent Neutral Turkmenistan" Denomination and date 2009
File:Coin of Turkmenistan 07.jpg File:Coin of Turkmenistan 08.jpg 2 tenge 18 mm
File:Coin of Turkmenistan 09.jpg File:Coin of Turkmenistan 10.jpg 5 tenge 20 mm
File:Coin of Turkmenistan 11.jpg File:Coin of Turkmenistan 12.jpg 10 tenge 22 mm Brass
File:Coin of Turkmenistan 13.jpg File:Coin of Turkmenistan 14.jpg 20 tenge 24 mm
File:Coin of Turkmenistan 15.jpg File:Coin of Turkmenistan 16.jpg 50 tenge 26 mm
File:Coin of Turkmenistan 01.jpg File:Coin of Turkmenistan 02.jpg 1 manat 27 mm Bimetallic: copper-nickel center in brass ring 2010
File:Coin of Turkmenistan 03.jpg File:Coin of Turkmenistan 04.jpg 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

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In 1993, manat notes were introduced in denominations of 1, 5, 10, 20, 50, 100, and 500 manat, replacing the Soviet rouble. 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 of the 1 and 5 manat banknotes bear a portrait of former president Saparmurat Atayevich Niyazov Turkmenbashi. 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
[3] [4] 1 manat 120 × 60 mm Orange and red Ylymlar academy, Aşgabat Ilarslanyn Ýadygarligi mausoleum 1993
[5] [6] 5 manat 125 × 62.5 mm Blue Bazçylyk Okuw Polytechnic Institute, Aşgabat Abu Seýidiň mausoleum
[7] [8] 10 manat 133 × 66 mm Brown Turkmenistan Relationship building (Aşgabat), President Saparmurat Niyazov (1940–2006) Tekesiň mausoleum
[9] [10] 20 manat 139 × 69 mm Blue and white National library (Aşgabat), President Saparmurat Niyazov Astanababa mausoleum 1993
1995
[11] [12] 50 manat 144 × 72 mm Orange and brown Soviet Honor monument, President Saparmurat Niyazov Anew mosque
[13] [14] 100 manat 150 × 75 mm Blue and orange Prezident Köşgi (President's Palace, Aşgabat), President Saparmurat Niyazov Sultan Sanjariň mausoleum
[15] [16] 500 manat 156 × 78 mm Red and violet National theatre (Aşgabat), President Saparmurat Niyazov Törebeg Hanymyň mausoleum
[17] [18] 1,000 manat Green and red Prezident Köşgi (President's Palace, Aşgabat), President Saparmurat Niyazov National emblem of Turkmenistan 1995
[19] [20] 5,000 manat Violet 1996
[21] [22] 10,000 manat Blue and brown 1996
1999
2000
[23] [24] Türkmenbaşi Köşgi (Turkmenbashi's Palace, Aşgabat), President Saparmurat Niyazov Saparmurat Haji mosque 1998
1999
[25] [26] Neutrality Monument, Ruhyýet Palace, Aşgabat 2000
[27] [28] Light brown Monument of Independence and Peace, Aşgabat 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.

Banknotes of the first manat, second issue
Image Value Dimensions Main colour Description Date of Ref.
Obverse Reverse Obverse Reverse Watermark printing issue withdrawal
File:50 manat. Türkmenistan, 2005 a.jpg File:50 manat. Türkmenistan, 2005 b.jpg 50 manat 144 × 72 mm Purple Emblem of Turkmenistan, Saparmurat Niyazov Yanardag, Aşgabat Hippodrome Saparmurat Niyazov and his signature 2005 c. 2005 31 December 2010 [4]
File:100 manat. Türkmenistan, 2005 a.jpg File:100 manat. Türkmenistan, 2005 b.jpg 100 manat 150 × 75 mm Red Central Bank building, Ashgabat
File:500 manat. Türkmenistan, 2005 a.jpg File:500 manat. Türkmenistan, 2005 b.jpg 500 manat 156 × 78 mm Brown Turkmen jewellery
File:1000 manat. Türkmenistan, 2005 a.jpg File:1000 manat. Türkmenistan, 2005 b.jpg 1,000 manat Green Oguzhan Presidential Palace, Aşgabat
File:5000 manat. Türkmenistan, 2005 a.jpg File:5000 manat. Türkmenistan, 2005 b.jpg 5,000 manat Blue
These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table.

Script error: No such module "anchor".Second manat (since 2009)

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]

In December 2025, polymer banknotes in denominations of 1, 5, 10, and 200 manats were issued to commemorate the 30th anniversary of Turkmenistan's declaration of neutrality.


Banknotes of the second manat
Image Value Dimensions Main colour Description Date of Ref.
Obverse Reverse Obverse Reverse Watermark printing issue withdrawal
File:1 manat. Türkmenistan, 2012 a.jpg File:1 manat. Türkmenistan, 2012 b.jpg 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 Template:Ubl 1 January 2009 Current [6][7][8]
File:Turkmenistan banknote - 2017 series - 1 manat - reverse.jpg As above, with the 2017 Asian Indoor and Martial Arts Games logo Ashgabat International Airport, TurkmenSat 1 2017 17 September 2017 [9]
File:1 Manat (Schein, 2020) - Rückseite.jpg As above, with the 25th anniversary of neutrality logo Turkmenbashi International Seaport, TurkmenSat 1 2020 12 December 2020 [10]
As above, with the 30th anniversary of neutrality logo Togrul Beg Türkmen 2025 1 December 2025 [11]
File:5 manat. Türkmenistan, 2012 a.jpg File:5 manat. Türkmenistan, 2012 b.jpg 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 Template:Ubl 1 January 2009 [6][7]
File:Turkmenistan banknote - 2017 series - 5 manat - reverse.jpg As above, with the 2017 Asian Indoor and Martial Arts Games logo Ashgabat Velodrome 2017 17 September 2017 [9]
File:5 manat. Türkmenistan, 2012 b.jpg As above, with the 25th anniversary of neutrality logo Independence and Neutrality Monuments, Ashgabat 2020 12 December 2020 [10]
As above, with the 30th anniversary of neutrality logo Soltan Sansar Türkmen 2025 12 December 2025 [12]
File:10 manat. Türkmenistan, 2012 a.jpg File:10 manat. Türkmenistan, 2012 b.jpg 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 Template:Ubl 1 January 2009 [6][7]
File:Turkmenistan banknote - 2017 series - 10 manat - reverse.jpg As above, with the 2017 Asian Indoor and Martial Arts Games logo Martial Arts Arena, Ashgabat 2017 17 September 2017 [9]
File:10 manat. Türkmenistan, 2012 b.jpg As above, with the 25th anniversary of neutrality logo Central Bank building, Ashgabat 2020 12 December 2020 [10]
As above, with the 30th anniversary of neutrality logo Magtymguly Pyragy 2025 1 December 2025 [13]
File:20 manat. Türkmenistan, 2012 a.jpg File:20 manat. Türkmenistan, 2012 b.jpg 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 Template:Ubl 1 January 2009 [6][7]
File:Turkmenistan banknote - 2017 series - 20 manat - reverse.jpg As above, with the 2017 Asian Indoor and Martial Arts Games logo Main Indoor Arena, Ashgabat 2017 17 September 2017 [9]
File:20 manat. Türkmenistan, 2012 b.jpg As above, with the 25th anniversary of neutrality logo Rukhyet Palace, Ashgabat 2020 12 December 2020 [10]
File:50 manat. Türkmenistan, 2009 a.jpg File:50 manat. Türkmenistan, 2009 b.jpg 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 Template:Ubl 1 January 2009 [6][8]
File:Turkmenistan banknote - 2017 series - 50 manat - reverse.jpg As above, with the 2017 Asian Indoor and Martial Arts Games logo Indoor Athletics Arena, Ashgabat 2017 17 September 2017 [9]
File:50 manat. Türkmenistan, 2009 b.jpg As above, with the 25th anniversary of neutrality logo Assembly of Turkmenistan building, Ashgabat 2020 12 December 2020 [10]
File:100 manat. Türkmenistan, 2014 a.jpg File:100 manat. Türkmenistan, 2014 b.jpg 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 Template:Ubl 1 January 2009 [6][8]
File:Turkmenistan banknote - 2017 series - 100 manat - reverse.jpg As above, with the 2017 Asian Indoor and Martial Arts Games logo Olympic Stadium, Ashgabat 2017 17 September 2017 [9]
File:100 manat. Türkmenistan, 2014 b.jpg As above, with the 25th anniversary of neutrality logo Oguzhan Presidential Palace, Ashgabat 2020 12 December 2020 [10]
200 manat 150 × 75 mm Olive Green Emblem of Turkmenistan, Map of Turkmenistan, Arkadag Monument, 30th anniversary of neutrality logo Arkadag City Arkadag Monument, moon and five stars from the national flag 2025 1 December 2025 [14][15]
File:500 manat. Türkmenistan, 2009 a.jpg File:500 manat. Türkmenistan, 2009 b.jpg 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 [16]
These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table.

First Turkmen Polymer Banknote Series (2025–present)

In honor of the 30th anniversary of Turkmenistan's permanent neutrality, the Central Bank issued modified polymer banknotes in denominations of 1, 5, and 10 manats, as well as a new polymer banknote in denominations of 200 manats, starting December 1, 2025, which is held under the motto "International Year of Peace and Trust." [17]

Exchange rates

The exchange rate is fixed.

  • 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 since 10 April 2021Template:Dated maintenance category (articles)Script error: No such module "Check for unknown parameters"..[18]

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

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  5. ↑ Манаты без Туркменбаши, Аскар Турсунбаев, Гундогар Template:In lang
  6. ↑ a b c d e f Script error: No such module "citation/CS1".
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  9. ↑ a b c d e f Script error: No such module "citation/CS1".
  10. ↑ a b c d e f Script error: No such module "citation/CS1".
  11. ↑ https://banknotenews.com/?p=48604
  12. ↑ https://banknotenews.com/?p=48610
  13. ↑ https://banknotenews.com/?p=48614
  14. ↑ [1]
  15. ↑ https://banknotenews.com/?p=48618
  16. ↑ Script error: No such module "citation/CS1".
  17. ↑ [2]
  18. ↑ Script error: No such module "citation/CS1".

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References

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External links

First manat
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

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Second manat
Preceded by:
First manat
Reason: inflation
Ratio: 1 second manat = 5,000 first manats 		Currency of Turkmenistan
1 January 2009 – 		Succeeded by:
Current

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