Turkmenistan Manat Currency Guide

The Turkmenistan Manat is the official currency of Turkmenistan, and it's essential to understand its value and usage when traveling to this beautiful country.

The Turkmenistan Manat is subdivided into 100 altyn, but altyn coins are no longer in circulation.

You'll find that the Manat is available in various denominations, including 1, 5, 10, 20, 50, and 100 notes, and 1, 3, and 5 altyn coins, although the latter are no longer used.

The Manat is pegged to the US dollar, which means its value is tied to the dollar's value on the global market.

For another approach, see: Mexican Peso Coins

The Turkmenistan manat is the official currency of Turkmenistan, introduced in November 1993 as a replacement for the Russian ruble. It's a symbol of the country's independence from the Soviet Union.

The new Turkmenistan manat was introduced on January 1, 2009, with an ISO 4217 code TMT. This change was made due to the high rate of inflation in the country.

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The manat is sub-divided into 100 tenges, although the abbreviation "m" is sometimes used in place of manat. It's a simple and straightforward system.

Turkmenistan likes to deal in cash, and most shops and hotels prefer to be paid in cash rather than other means of payment. This is a common practice in the country.

The Turkmen manat is the official currency of Turkmenistan, and here are some key facts to get you started:

The Turkmen manat has been the country's currency since 1993, a significant year in its economic history.

The currency is denoted by the symbol "m" and has a unique ISO code, TMT.

The Turkmen manat is divided into smaller units called tenge, which is its minor unit.

Here are the banknote denominations you can find in circulation:

The Central Bank of Turkmenistan, or CBT, is responsible for managing the country's currency and monetary policy.

The Turkmenistan Manat has a fascinating history. Introduced in November 1993, it replaced the Russian ruble at an exchange rate of 1 manat for 500 rubles, marking the final break away from the Soviet Union.

The first Turkmenistan manat was introduced in 1993 and was subdivided into 100 tenges. The currency was symbolized by TMM and featured denominations of 1, 5, 10, 20, 50, 100, and 500 manats.

The introduction of the manat was followed by the introduction of higher denomination banknotes, including 1,000, 5,000, and 10,000 manats in 1995 and 1996. These new banknotes featured a portrait of former president Saparmurat Atayevich Niyazov Turkmenbashi.

The Turkmenistan manat underwent a significant change in 2009, when a new manat was introduced at an exchange rate of 5000 old manats for every one new manat. The new manat was symbolized by TMT.

Here's a list of the first Turkmenistan manat banknotes, introduced in 1993:

The Turkmenistan manat has a fascinating history of currency denominations. The first manat coins were introduced in 1993 in denominations of 1, 5, 10, 20, and 50 tenges.

Coins have undergone several changes over the years. In 1999, high inflation led to the introduction of coins with higher denominations, including 500 and 1,000 manats.

The 1993 coins were short-lived due to their metal value being worth more than their actual value. New coins were introduced in 2009, featuring the map of Turkmenistan with the Independence Tower imposed on it.

Banknotes have also undergone significant changes. The first manat banknotes were introduced in 1993 in denominations ranging from 1 to 500 manat.

In 1995, a 1,000 manat note was introduced, followed by 5,000 and 10,000 notes in 1996. A new series of banknotes was issued in 2005 to replace the old notes.

The new manat was introduced to replace the old manat at an exchange rate of one new manat for 5,000 old manats. New banknotes were printed in denominations ranging from 1 to 500 new manat.

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The Turkmenistan Manat (TMT) is the official currency of Turkmenistan, replacing the Russian ruble in 1993. It's one of around 180 currencies worldwide, trading against all other official currencies globally.

The exchange rate of TMT to USD is fixed by the government, with 1 USD being equivalent to 3.50 TMT. This rate has been in place since January 1, 2015.

To successfully trade the TMT, it's essential to have a solid understanding of various trading strategies. Some effective techniques include trend following, range trading, and breakout trading.

Here are some key exchange rates to keep in mind:

The black market for exchange rate exists in Turkmenistan, with the parallel exchange rate varying between 40–41m per U.S. dollar as of 10 April 2021.

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Exchange rates can fluctuate over time due to various economic, political, and market factors. A higher exchange rate means that the value of one currency has increased compared to another, while a lower exchange rate means the opposite.

The Turkmen manat trades against all other official currencies around the globe, giving us exchange rates. This is one of around 180 currencies worldwide.

The official exchange rate for the Turkmen manat is set at 3.5 TMT to the U.S. dollar. This rate has been in place since January 1, 2015.

Before 2009, the exchange rate was much lower, at US$1 = 1.04 manat. It then increased to US$1 = 2.85 manats between 2009 and 2015.

The 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.

Here's a breakdown of the exchange rate history:

Trading in the Turkmenistan Manat (TMT) requires a solid understanding of various trading strategies.

Trend following is an effective technique that involves identifying the direction of the market trend and making trades that align with that trend. This is crucial in the TMT market, where the exchange rate is fixed by the government.

Range trading is another strategy that involves identifying key levels of support and resistance and buying at the bottom of a range or selling at the top. The fixed exchange rate of 1 USD being equivalent to 3.50 TMT makes range trading a viable option.

Breakout trading involves entering a trade when there is a significant price movement outside of a defined range. This strategy can be used in the TMT market, where the government's fixed exchange rate can lead to sudden price movements.

Monitoring daily volumes can provide additional insight into TMT trends. The fixed exchange rate of 1 USD being equivalent to 3.50 TMT means that daily volumes can be used to predict price movements.

Here are some key trading strategies for the TMT market:

The word "manat" has a fascinating history. It's derived from the Persian word munāt, which is also related to the Russian word монета, meaning "coin." This Latin root, Monēta, is where the word's etymology begins.

The name "manat" was used for the Soviet currency in Turkmen and Azerbaijani Turkish, showing its spread across languages and cultures.

The Turkmenistan Manat, or TMT, has a fascinating history. Introduced on November 1, 1993, it replaced the Russian ruble as the official currency of Turkmenistan.

Turkmenistan's economy is heavily dependent on natural gas exports, which has led to a history of currency transformations. The TMT was initially pegged to the US dollar before switching to a floating exchange rate regime in 2015.

The first series of TMT notes were printed abroad, while the new series introduced in 2005 were printed locally. This change marked a significant improvement in the currency's design and security features.

Interestingly, the TMT banknotes depict images of historic and modern Turkmenistan on the obverse side, while the reverse side features local fauna. This unique design reflects the country's rich cultural heritage.

The TMT has undergone several changes since its inception, with new series of banknotes introduced in 2009, 2012, 2014, 2017, and 2020. These changes aimed to improve the currency's security features and prevent counterfeiting.

Here's a brief timeline of the TMT's evolution:

Note that the TMT has undergone significant changes since its introduction, reflecting the country's economic and cultural developments.

The word "manat" has a fascinating history. It's derived from the Persian word munāt.

The name "manat" is also associated with the Russian word монета, which means "coin." This is no coincidence, as both languages have their roots in Latin, with "moneta" being the Latin word for "mint" or "coinage".

Interestingly, the name "manat" was used to refer to the Soviet currency in Turkmen and Azerbaijani Turkish.