Turkmenistani Manat (TMT)

Basic Concepts of Turkmenistan Manat

Turkmenistan Manat is the legal tender of Turkmenistan, issued and managed by the country's Central Bank, with the currency code TMT and symbol m. The currency code is TMT.

Countries of Use

The Turkmenistan Manat circulates only within the territory of Turkmenistan and is the only official currency of the country, used for daily transactions and economic activities.

Units and denominations

The Turkmenistan Manat is divided into the primary unit, the Manat, and the secondary unit, the Tenge, with 1 Manat equaling 100 Tenge. Common denominations of banknotes include 1, 5, 10, 20, 50 and 100 manat, while coins are available in denominations of 1, 2, 5, 10, 20 and 50 tenge.

Historical Background

The Turkmenistan Manat was first introduced in 1993, replacing the Soviet-era Rouble as the currency of independent Turkmenistan.In 2009, the country undertook a currency reform that introduced the New Manat, replacing the old one at a rate of 1:5,000, with the aim of stabilizing the economy and combating inflation.