Turkmenistani Manat
Manat
Currency Code
TMT
ISO 934
Symbol
TMT
Native: m
Decimal Digits
2
Rounding: 0
Countries
TM
Using this currency
Currency Units
Major Unit
Name: manat
Symbol: m
Minor Unit
Name: tenge
Symbol:
Value: 0.01
Banknotes
Frequently Used
1 m5 m10 m20 m50 m100 m
Coins
Frequently Used
1 tenge2 tenge5 tenge10 tenge20 tenge50 tenge1 m2 m
Plural Forms
English Plural
Turkmenistani manats
Native Plural
Manat
Overview
The Turkmenistani Manat is the currency of Turkmenistan, managed by the Central Bank of Turkmenistan. The economy is heavily dependent on natural gas exports and the currency faces challenges due to limited convertibility.
Economy
- Turkmenistan is a member of CIS, ECO, OIC, OSCE.
- Main industries include: Natural gas, Oil, Petroleum products, Textiles, Food processing.
- Turkmenistan is part of the World Trade Organization.
- Imports are machinery, equipment, chemicals, foodstuffs.
- Major exports include gas, crude oil, petrochemicals, textiles, cotton fiber.
- GDP: $57.1 billion (2023 est.).
- GDP per capita: $9,183 (2023 est.).
- Unemployment rate: 8.6% (2004 est.).
- Inflation rate: 13% (2017 est.).
- Main trading partners: China, Turkey, Russia, Afghanistan, Iran, Kazakhstan.
- Trade agreements: Limited international agreements, Bilateral energy deals.
History
- Previous currencies used: Old Turkmen manat, Soviet ruble, Russian ruble.
- The current manat was introduced in 2009, replacing the old manat at 5000:1. The original manat was introduced in 1993 after independence.
- 1993: First manat introduced, replacing Soviet ruble
- 2009: New manat (TMT) introduced (5000:1 redenomination)
- 2015: Currency devaluation amid economic pressures
- 2019: Multiple exchange rate system implemented
- 2020: COVID-19 and energy market impacts
- Exchange rate peg: USD (de jure), multiple rates in practice.
- Currently pegged to USD (officially), limited convertibility at 3.50 (official), multiple exchange rates exist.
General Information
- ISO 4217 Code: TMT
- Symbols: TMT/m
- Currency Subunits: 100 tenge
- Central Bank: Central Bank of Turkmenistan
- Monetary Policy: Fixed exchange rate system with limited convertibility. Multiple exchange rate regime in practice.
- Bills: 1 TMT, 5 TMT, 10 TMT, 20 TMT, 50 TMT, 100 TMT, 500 TMT
- Coins: 1 tenge, 2 tenge, 5 tenge, 10 tenge, 20 tenge, 50 tenge, 1 manat, 2 manat
- USD Exchange Rate: 3.50 (official), multiple exchange rates exist
- Pegged To: USD (officially), limited convertibility at 3.50 (official), multiple exchange rates exist
- Capital: Ashgabat
- Population: 6,117,924 (2023 est.)
- Area: 488,100 km²
- Languages: Turkmen (official), Russian, Uzbek
- Time Zones: UTC+5 (Turkmenistan Time)
- Government Type: Presidential republic
- Head of Government: President (head of state and government)
- Independence: October 27, 1991 (from Soviet Union)
- Ethnic Groups: Turkmen 85%, Uzbek 5%, Russian 4%, Other 6%
- Religions: Muslim 89%, Eastern Orthodox 9%, Unknown 2%
- Literacy Rate: 99.7% (2015 est.)
- Transport: Ashgabat Airport, road networks, railway connections, Caspian Sea port access
- Communications: State-controlled telecommunications, 25% internet penetration, limited access
- Energy: Natural gas 100% (major exporter)
- Countries Using This Currency: Turkmenistan
- Data Sources: Central Bank: Central Bank of Turkmenistan, Economic Data: State Committee of Statistics Turkmenistan, World Bank estimates, IMF, Trade Data: State Customs Service, Demographic Data: State Committee of Statistics Turkmenistan, Geographic Data: Turkmen Hydrometeorological Service, Historical Data: Central Bank archives (limited access)
- Last Updated: 2025