Manat is the national currency of Turkmenistan

The monetary unit of Turkmenistan is called manat and was officially put into circulation in the country at the end of 1993. The new currency replaced the previously used ruble and traded at a rate of five hundred to one. In January 2009, the government of the state decided to denominate money. The reason for this was strong inflation. As a result, for two years the country exchanged old manats for new ones, at the rate of 5000 to 1. As of today, one Turkmen manat consists of one hundred tenge.

Turkmen coins

Now the state uses coins, the denomination of which is 1, 2 and 5 tenge (made of nickel or steel), 10, 20, 50 tenge (made of brass), as well as 1 and 2 manat (made of brass, copper and nickel alloy ). On the obverse of those that were issued before 2005, there was a portrait of Saparmurat Niyazov - the so-called lifelong president of the country. The same goes for banknotes, except for one and five manats. The currency of Turkmenistan of a new type is different in that the Independence Monument is on its obverse with the image of the state borders. It should be noted that the coins are minted by the British royal mint.

Similarly to many other states, Turkmenistan from time to time produces coins dedicated to various commemorative or anniversary dates. In particular, the last time it happened in 2012. Then the country presided over the Commonwealth of Independent States. In connection with this, silver and gold coins were issued, the dignity of which was 20 and 50 manats.

Paper money of Turkmenistan

On modern banknotes, of which the currency of Turkmenistan is, there are images of various representatives of the country that made a tangible contribution to its development, as well as architectural sights. In particular, on the obverse of a note in one manat there is a portrait of the ruler Togrul, and on the reverse - the National Center of Culture. On the "five" on one side is depicted Ahmad Sanjar (Sultan), and on the other - Arch of Neutrality. On the front part of ten manats one can see the poet Makhtumkuli, and on the rear - the Turkmen Central Bank. "Twenty" is different from the image of the epic hero Horogly and Rukhyet Palace. On fifty manats, Gorkut Ata is depicted on the obverse and the Turkmen Mejlis on the reverse. "Hundred" in the front part is decorated with a portrait of the progenitor of the entire local people of Oguz Khan and the presidential palace. The largest bill, which the currency of Turkmenistan boasts, has a denomination of 500 manat. On her obverse simply could not be placed a portrait of someone other than Saparmurat Niyazov. On the reverse there is an image of the mosque of Turkmenbashi Rukh.

Exchange of manats

Now the currency of Turkmenistan is not included in the list of freely convertible. In other words, the official rate of the manat, which is set by the Central Bank of the country, is often significantly different from the one that exists on the market. This can be explained by the fact that after gaining independence in 1991, the state chose its own path through the personality cult of its long-standing ruler, Saparmurat Niyazov. Despite the fact that more than seven years have passed since his death, Turkmenistan remains a fairly closed country. The main source of income here is natural gas, the world prices for which directly affect the exchange rate of local currency.