The word"manat" is derived from the Russian word монета ("moneta") meaning "coin," which derived fromLatinMonēta.[3] It was used as the name of theSoviet currency in Turkmen (Turkmen:манат) and inAzerbaijani.
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.
These images are to scale at 2.5 pixels per millimetre. For table standards, see thecoin 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 theRoyal Mint.
Monument of Independence superimposed on the map of Turkmenistan, the textTurkmen:Garaşsyz Bitarap Türkmenistan, meaning "Independent Neutral Turkmenistan"
This infobox shows the latest status before this currency was rendered obsolete.
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 presidentSaparmurat Atayevich Niyazov Turkmenbashi. All Turkmen banknotes are produced by theDe 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.
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 extensivecult 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 inAshgabat or technological achievements (TurkmenSat 1) and portraits ofAhmed Sanjar,Oghuz Khan,Magtymguly Pyragy and other figures in Turkmen history.[5]
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]
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[update].[18]
^"Banknotes of 2005".Central Bank of Turkmenistan (in Turkmen). Ashgabat. 17 March 2021. Archived fromthe original on 27 December 2022. Retrieved27 December 2022.
^abcdef"Banknotes of 2009".Central Bank of Turkmenistan (in Turkmen). Ashgabat. 17 March 2021. Archived fromthe original on 27 December 2022. Retrieved27 December 2022.
^abc"Modified banknotes of 2014".Central Bank of Turkmenistan (in Turkmen). Ashgabat. 17 March 2021. Archived fromthe original on 27 December 2022. Retrieved27 December 2022.
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