Turkmenistan Local Currency

Turkmenistan Local Currency

Overview Of Turkmenistan Local Currency

Introduced on 1st November 1993, Manat is known as the first Turkmenistan Local Currency and replaced at a rate of 1 manat to 500 rubbles.  On January 1, 2009, the new manat was introduced with the code TMT at the rate of 5000 old manat to 1 new manat.

On Turkmenistan Tours, for buying the souvenirs, carpets or for tipping, the local currency of Turkmenistan is essential. The word "manat" was originated by the Persian word "munāt", which means “coins”. After your arrival on Ashgabat International Airport, you can exchange the currency for Turkmenistan Local Currency in the exchange booth on airport.

You can also get the opportunity for the Foreign Currency Exchange in Turkmenistan in Hotel, Restaurants, Airport and banks during Turkmenistan Tours.

Turkmenistan Coins

The coins were introduced in denominations of 1, 5, 10, 20 and 50 tenge in 1993. The 1, 5 and 10 tenge were struck in copper-plated-steel, while the higher denominations in nickel-plated-steel. As the metal value of the first series of coins increases more than its real value, it disappeared in the market.

Turkmenistan Banknotes

Turkmenistan Local Currency
Turkmenistan Local Currency
Turkmenistan Local Currency

Turkmenistan Local Currency

First Manat

Manat, Turkmenistan Local Currency were introduced in denominations of 1, 5, 10, 20, 50, 100 and 500 in 1993, by replacing the Soviet rubble at a rate of 1 manat to 500 rubbles. In 1996, 5,000 and 10,000 manat were introduced in 1996. A new series of notes of the denomination of 50, 100, 500, 1,000, 5,000 and 10,000 manat was introduced in 2005.  Except the 1 and 5 manat banknotes, all manat notes bear a portrait of Saparmurat Niyazov, the former president.

First Manat (Second Issue)

At a fixed rate 5000 old manat to 1 new manat banknotes is introduced in 2005, 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 manat. Two new coins were also introduced in only 500 and 1,000 manat.

Second Manat

After hyperinflation due to the devaluation of the currency, a new manat with a fixed rate 5000 old manat to 1 new manat banknotes was introduced. The banknotes were printed in the denominations of 1, 5, 10, 20, 50, 100, and 500 new manat.

Exchange Rates

Before April 2009, US$1 = 1.04 TMT

From April 2009 to Jannuary 2015, US$1 = 2.85 TMT

January 2015 onwards, US$1 = 3.5 TMT

As Turkmenistan Local Currency is not fully convertible due to exchange rate limits set by the government, a black market for exchange rate also exists. The exchange rate is 18 TMT per U.S. Dollar according to 9th October 2018.

If you have any doubt regardeing Turkmenistan Money & Costs, then you can ask us at anytime. As a team od the popular tour operator, EuroAsia Travels, we can make your dream comes true at a reasonable price.

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