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Turkmenistani manat
From Wikipedia, the free encyclopedia
| Turkmenistani manat türkmen manat / түркмен манат (Turkmen) |
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| ISO 4217 Code | TMM | ||
|---|---|---|---|
| User(s) | Turkmenistan | ||
| Inflation | 11% | ||
| Source | The World Factbook, 2006 est. | ||
| Subunit | |||
| 1/100 | tennesi | ||
| Symbol | m | ||
| Plural | manat | ||
| tennesi | tennesi | ||
| Coins | 500, 1000 manat | ||
| Banknotes | 1, 5, 10, 20, 50, 100, 500, 1000, 5000, 10000 manat | ||
| Central bank | Central Bank of Turkmenistan | ||
The manat is the currency of Turkmenistan. It was introduced on November 1, 1993, replacing the Russian ruble at a rate of 1 manat = 500 ruble. The ISO 4217 code is TMM and the manat is subdivided into 100 tennesi. The abbreviation m is sometimes used, e.g., 25 000 m is twenty-five thousand manat.
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The word 'manat' is borrowed from the Russian word "moneta" meaning "coin". Likewise, 'manat' was the name of the Soviet ruble in both Azeri and Turkmen.
In 1993, coins were introduced in denominations of 1, 5, 10, 20 and 50 tennesi. The 1, 5 and 20 tennesi were struck in copper-plated-steel, with the higher denominations in nickel-plated-steel. In 1999, after a period of high inflation, 500 and 1000 manat coins were introduced.
 1 tennesi coin |
 5 tennesi coin |
 10 tennesi coin |
 20 tennesi coin |
 50 tennesi coin |
 500 manat coin |
 1000 manat coin |
In 1993, notes were introduced in denominations of 1, 5, 10, 20, 50, 100 and 500 manat. These were followed by notes for 1000 manat in 1995 and 5000 and 10,000 manat in 1996. In 2005, a new series of notes was introduced in denominations of 50, 100, 500, 1000, 5000 and 10,000 manat. All notes bear a portrait of former president Saparmurat Niyazov.
In October of 2007 the Turkmen opposition news website Gundogar reported, citing sources at De La Rue, that in 2009 Turkmenistan plans to redenominate the manat at the rate of 1000 to 1 due to inflation and a change of president. Only the highest valued banknote, 500 Manat, is planned to bear the portrait of Saparmurat Niyazov, while the others are supposed to have images of buildings in Ashgabat and portraits of Ahmed Sanjar, Oguz Khan, Magtymguly Pyragy and other figures of Turkmen history.[1]
The manat has a large disparity between its official and black market rates, with the latter being roughly 21% greater than the official. This results in few institutions outside Turkmen Governmental control supporting the official rate. A few multinational companies have continued to adhere to the official rate - such as British Airways - but generally only for purchases by Turkmen passport holders in the country itself.
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Note: Rates obtained from these websites could be substantially different from black market rate
- Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801-1991, 18th ed., Krause Publications. ISBN 0-87341-150-1.
- 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.
- Don's World Coin Gallery - Turkmenistan
- Ron Wise's World Paper Money - Turkmenistan Mirror site
- Tables of Modern Monetary Systems by Kurt Schuler - Asia Mirror site
- The Global History of Currencies - Turkmenistan
- Global Financial Data currency histories table (
Microsoft Excel format)
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| Central | Afghan afghani · Kazakhstani tenge · Kyrgyzstani som · Mongolian tögrög · Russian ruble · Tajikistani somoni · Turkmenistani manat · Uzbekistani som |
| East | Chinese yuan · Hong Kong dollar · Japanese yen · Macanese pataca · North Korean won · New Taiwan dollar · South Korean won |
| South-East | Brunei dollar · Cambodian riel · Indonesian rupiah · Lao kip · Malaysian ringgit · Myanmar kyat · Philippine peso · Singapore dollar · Thai baht · U.S. dollar (East Timor) · Vietnamese đồng |
| South | Bangladeshi taka · Bhutanese ngultrum · Indian rupee · Maldivian rufiyaa · Nepalese rupee · Pakistani rupee · Sri Lankan rupee |
| West | Armenian dram · Azerbaijani manat · Bahraini dinar · Cypriot pound · Egyptian pound · Georgian lari · Iranian rial · Iraqi dinar · Israeli new sheqel · Jordanian dinar · Kuwaiti dinar · Lebanese lira · Omani rial · Qatari riyal · Saudi riyal · Syrian pound · Turkish new lira · UAE dirham · Yemeni rial |