Turkmenistan manat
| Manat | |
|---|---|
| Country: |
 Turkmenistan
|
| Subdivision: | 100 teňňe |
| ISO 4217 code : | TMT |
| Abbreviation: | m |
|
Exchange rate : (August 24, 2020) |
1 USD = 3.50 TMT (fixed) 1 EUR = 4.1465 TMT 1 CHF = 3.8532 TMT |
The Turkmenistani manat is the currency of Turkmenistan .
1 manat is divided into 100 teňňe (Türkmenistanyň teňňesi). The currency was introduced in 1993 and replaced the ruble from the Soviet era from. Inflation is very high and was officially stated at 11% for 2006.
On January 1, 2009, the “new Manat” with the ISO 4217 code TMT was introduced. 1 TMT is 5000 old manat ( TMM ), both remained in parallel in 2009, until 2010 the old manat was exchanged by all banks in Turkmenistan. New banknotes of 1, 5, 10, 20, 50, 100 and 500 manat and coins of 1, 2, 5, 10, 20, 50 teňňe, 1 and 2 manat were issued. The ex-head of state and government Saparmyrat Nyýazow is only shown on the 500 manat note, on the old series he was on all notes. The ruling head of state and government, Gurbanguly Berdimuhamedow, promised the people in a televised address that the new currency would have a stable value compared to the previous manat.
The rate is pegged to the US dollar . Until 2014 the rate was 1 dollar = 2.85 manat, on January 1, 2015 the manat was devalued by approx. 19%, the new rate is 1 dollar = 3.50 manat.
