Turkmenistani manat
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| ISO 4217 Code | TMM |
| User(s) | Turkmenistan |
| Inflation | 10.5% |
| Source | The World Factbook, 2005 est. |
| Subunit | |
| 1/100 | tennesi |
| Symbol | m |
| Plural | manat |
| tennesi | tennesi |
| Coins | 500, 1000 manat |
| Banknotes | 1, 5, 10, 20, 50, 100, 500, 1000, 5000, 10000 manat |
| Central bank | Central Bank of Turkmenistan |
The manat is the currency unit of Turkmenistan. It was introduced on November 1, 1993, replacing the Russian ruble at a rate of one manat for 500 rubles. A Turkmenistani manat (TMM) is made up of 100 tennesi. The abbreviation m is sometimes used, e.g. 25 000 m is twenty-five thousand manat.
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[edit] Etymology
The word 'manat' is borrowed from the Russian word "moneta" meaning "coin". Likewise, 'manat' was the name of the Soviet ruble in both Azeri and Turkmen.
[edit] Coins
A series of tennesi coins were issued in 1993. They were 1, 5, 10, 20, and 50 tennesi. Another series of 500 and 1000 manat was issued in 1999.
[edit] Banknotes
Presently, banknotes are issued in denominations of 1, 5, 10, 20, 50, 100, 500, 1000, 5000 and 10000 manat, . All notes bear a portrait of president Saparmurat Niyazov.
[edit] Black market exchange
The Manat has a large disparity between its official and black market rates, with the latter being roughly 21% greater than the official. This results in few institutions outside Turkmen Governmental control supporting the official rate. A few multinational companies have continued to adhere to the official rate - such as British Airways - but generally only for purchases by Turkmen passport holders in the country itself.
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[edit] See also
de:Turkmenistan-Manat nl:Turkmeense manat pl:Manat turkmeński ru:Манат
