| Manat | |
| Local Name: | Türkmen manady |
| Local Name Lang: | tk |
| Iso Code: | TMT |
| Image 1: | 100 manat. Türkmenistan, 2014 a.jpg |
| Image Title 1: | 100 manat banknote |
| Image Width 1: | 200 |
| Using Countries: |  Turkmenistan |
| Inflation Rate: | 8.5% |
| Inflation Source Date: | The World Factbook, 2012 est. |
| Pegged With: | US dollar (USD) US$1 = 3.50 manats |
| Subunit Name 1: | tenge |
| Symbol: | m |
| Symbol Subunit 1: | t |
| Unit: | manat |
| No Plural: | Y |
| Frequently Used Coins: | 10, 20, 50 tenge, 1, 2 manats |
| Frequently Used Banknotes: | 1, 5, 10, 20, 50, and 100 manats |
| Rarely Used Coins: | 1, 2, 5 tenge |
| Rarely Used Banknotes: | 500 manats |
| Issuing Authority: | Central Bank of Turkmenistan |
| Printer: | De La Rue |
| Mint: | Royal Mint |
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] The manat is subdivided into 100 tenge (Turkmen: teňňe).
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]
The word "manat" is derived from the Persian word munāt and the Russian word монета ("moneta") meaning "coin," both derived from Latin Monēta.[3] It was used as the name of the Soviet currency in Turkmen (Turkmen: манат) and in Azerbaijani Turkish.
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 | |||||
| 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 | |||||||
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 | |||
| 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 | |||||
| First Turkmen manat | |
| Iso Code: | TMM |
| Qid: | Q115215960 |
| Image 1: | Turkmenistan 007.jpg |
| Image Title 1: | 500 manat banknote of the first manat. |
| Image Width 1: | 200 |
| Using Countries: | Turkmenistan |
| Inflation Rate: | 992.39% |
| Inflation Source Date: | Statista, 1996 est. |
| Used Coins: | 1, 2, 5, 10, 20, and 50 tenge, 500 and 1,000 manats |
| Used Banknotes: | 1, 5, 10, 20, 50, 100, 500, 1,000, 5,000, and 10,000 manats |
| Obsolete: | yes |
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.
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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | |||||
| 500 manat | 156 × 78 mm | Brown | Emblem of Turkmenistan, Saparmurat Niyazov | Turkmen jewellery | Saparmurat Niyazov and his signature | 2005 | c. 2005 | 31 December 2010 | |||||
| 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 | |||||
| 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 | |||||
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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | ||||||
| Same as above, with the 2017 Asian Indoor and Martial Arts Games logo | Ashgabat Velodrome | 2017 | 17 September 2017 | ||||||||||
| Same as above, with the 25th anniversary of neutrality logo | Independence and Neutrality Monuments, Ashgabat | 2020 | 12 December 2020 | ||||||||||
| 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 | ||||||
| Same as above, with the 2017 Asian Indoor and Martial Arts Games logo | Martial Arts Arena, Ashgabat | 2017 | 17 September 2017 | ||||||||||
| Same as above, with the 25th anniversary of neutrality logo | Central Bank building, Ashgabat | 2020 | 12 December 2020 | ||||||||||
| 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 | ||||||
| Same as above, with the 2017 Asian Indoor and Martial Arts Games logo | Main Indoor Arena, Ashgabat | 2017 | 17 September 2017 | ||||||||||
| Same as above, with the 25th anniversary of neutrality logo | Rukhyet Palace, Ashgabat | 2020 | 12 December 2020 | ||||||||||
| 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 | ||||||
| Same as above, with the 2017 Asian Indoor and Martial Arts Games logo | Indoor Athletics Arena, Ashgabat | 2017 | 17 September 2017 | ||||||||||
| Same as above, with the 25th anniversary of neutrality logo | Assembly of Turkmenistan building, Ashgabat | 2020 | 12 December 2020 | ||||||||||
| 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 | ||||||
| Same as above, with the 2017 Asian Indoor and Martial Arts Games logo | Olympic Stadium, Ashgabat | 2017 | 17 September 2017 | ||||||||||
| Same as above, with the 25th anniversary of neutrality logo | Oguzhan Presidential Palace, Ashgabat | 2020 | 12 December 2020 | ||||||||||
| 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] | |||||
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 .[12]