Turkmenistani manat facts for kids

Quick facts for kids Turkmenistani manat
100 manat banknote
ISO 4217 Code	TMT
User(s)	Turkmenistan
Inflation	8.5%
Source	The World Factbook, 2012 est.
Pegged with	US dollar (USD) US$1 = 3.50 manats
Subunit
1⁄100	tenge
Symbol	m
tenge	t
Plural	The language(s) of this currency does not have a morphological plural distinction.
Coins
Freq. used	10, 20, 50 tenge, 1, 2 manats
Rarely used	1, 2, 5 tenge
Banknotes
Freq. used	1, 5, 10, 20, 50, and 100 manats
Rarely used	500 manats
Printer	De La Rue

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. 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.

Etymology

The word "manat" is derived from the Persian word munāt and the Russian word монета ("moneta") meaning "coin," both derived from Latin Monēta. It was used as the name of the Soviet currency in Turkmen (Turkmen: манат) and in Azerbaijani Turkish.

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
		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 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
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)

Turkmenistani manat
500 manat banknote of the first manat.
ISO 4217 Code	TMM
User(s)	Turkmenistan
Inflation	992.39%
Source	Statista, 1996 est.
Coins	1, 2, 5, 10, 20, and 50 tenge, 500 and 1,000 manats
Banknotes	1, 5, 10, 20, 50, 100, 500, 1,000, 5,000, and 10,000 manats

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.

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
		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
		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
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.

Banknotes of the second manat

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	2009 2012 2014	1 January 2009	Current
						Same as above, with the 2017 Asian Indoor and Martial Arts Games logo	Ashgabat International Airport, TurkmenSat 1		2017	17 September 2017
						Same as above, with the 25th anniversary of neutrality logo	Turkmenbashi International Seaport, TurkmenSat 1		2020	12 December 2020
		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	2009 2012	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	2009 2012	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	2009 2012	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	2009 2014	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	2009 2014	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
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 (2021 -04-10)^[update].

See also

• Economy of Turkmenistan
• Azerbaijani manat