Country ISO code: TM

Official language: Turkmen

Language ISO code: tk

Current official currency: Turkmenistan Manat (New Manat)

Currency ISO code: TMT

Complete Financial History of Turkmenistan

Current official currency: Turkmenistan Manat (New Manat) (TMT)

• ISO code: TMT

• Symbol: T

• Singular name: Manat

• Plural name: Manats

• Monetary subdivision: 1 Manat = 100 Tenge

• Fraction singular name: Tenge

• Fraction plural name: Tenge

• Initial production date: November 1, 1993 (original Manat introduced)

• Final production date: December 31, 2008 (end of original Manat circulation)

• Initial circulation date: November 1, 1993

• Final circulation date: December 31, 2008

• Mint: Domestic production and contracted foreign mints

• Issuing bank: Central Bank of Turkmenistan

New Manat (TMT)

• Introduced on January 1, 2009 to replace the original Manat at a rate of 1 TMT = 5000 TMM (old Manat)

• ISO code updated to TMT in 2009

• Purpose: combat inflation and modernize the monetary system

Coin denominations (new Manat)

• 1, 2, 5, 10, 20, 50 Tenge

Banknote denominations (new Manat)

• 1, 5, 10, 20, 50, 100, 200, 500 Manats

Economic and historical context

• After independence from the Soviet Union in 1991, Turkmenistan introduced the original Manat in 1993.

• The original Manat suffered from high inflation and devaluation, prompting monetary reform.

• The new Manat was introduced in 2009 to stabilize the economy and facilitate transactions.

• The exchange rate is government-fixed and relatively stable, though currency convertibility is limited.

Minting and production locations

• Coins and banknotes are produced domestically and by contracted foreign mints.

Designs and symbols on coins and banknotes

• Coins and banknotes feature the national coat of arms, cultural symbols, and architectural motifs.

• Banknotes depict historical leaders and national monuments.

Production volumes, honorees, and seals

• Specific production volumes are not widely published.

• Honorees include historical leaders and national cultural symbols.

Commemorative coins and curiosities

• Turkmenistan issues commemorative coins for national and cultural events, though these are not widely circulated internationally.

Current circulation status

• The new Manat (TMT) is actively circulating and is the sole legal tender in Turkmenistan.

Issuing authority

• Central Bank of Turkmenistan

Relevant monetary legislation

• Currency issuance and regulation are governed by national financial laws and the Central Bank of Turkmenistan.

Names and titles on banknotes

• Banknotes bear signatures of the President of the Central Bank of Turkmenistan and other national financial authorities.

Persons honored on coins and banknotes

• Historical leaders and national symbols are featured on Turkmen coins and banknotes.