Turkmen manat: Difference between revisions
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| iso_code = TMM |
| iso_code = TMM |
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| image_1 = Turkmenistan 007.jpg{{!}}200px |
| image_1 = Turkmenistan 007.jpg{{!}}200px |
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| image_title_1 = |
| image_title_1 = Current 500 manat banknote |
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| using_countries = [[Turkmenistan]] |
| using_countries = [[Turkmenistan]] |
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| inflation_rate = 11% |
| inflation_rate = 11% |
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The '''manat''' is the [[currency |
The '''manat''' is the [[currency]] of [[Turkmenistan]]. It was introduced on [[November 1]], [[1993]], replacing the [[Russian ruble]] at a rate of 1 manat = 500 ruble. The [[ISO 4217]] code is ''TMM'' and the manat is subdivided into 100 ''tennesi''. The abbreviation '''m''' is sometimes used, e.g., 25 000 m is twenty-five thousand manat. |
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==Etymology== |
==Etymology== |
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==Coins== |
==Coins== |
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In 1993, coins were introduced in denominations of 1, 5, 10, 20 and 50 tennesi. The 1, 5 and 20 tennesi were struck in copper-plated-steel, with the higher denominations in nickel-plated-steel. In 1999, after a period of high inflation, 500 and 1000 manat coins were introduced. |
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==Banknotes== |
==Banknotes== |
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In 1993, notes were introduced in denominations of 1, 5, 10, 20, 50, 100 and 500 manat. These were followed by notes for 1000 manat in 1995 and 5000 and 10,000 manat in 1996. In 2005, a new series of notes was introduced in denominations of 50, 100, 500, 1000, 5000 and 10,000 manat. All notes bear a portrait of former president [[Saparmurat Niyazov]]. |
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==Black market exchange== |
==Black market exchange== |
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The |
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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{{Exchange Rate|TMM| |
{{Exchange Rate|TMM| |
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note=Rates obtained from these websites could be substantially different from black market rate}} |
note=Rates obtained from these websites could be substantially different from black market rate}} |
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==See also== |
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*[[Economy of Turkmenistan]] |
*[[Economy of Turkmenistan]] |
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*[[Azerbaijani manat]] |
*[[Azerbaijani manat]] |
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==References== |
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{{refbegin}} |
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*{{cite book | title=Standard Catalog of World Coins: 1801-1991 |edition= 18th ed. | author=Chester L. Krause & Clifford Mishler|editor= Colin R. Bruce II| publisher=Krause Publications | year=1991| id=ISBN 0-87341-150-1 }} |
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*{{cite book | title=Standard Catalog of World Paper Money, General Issues| edition=7th ed. | author=Albert Pick |editor=Neil Shafer & Colin R. Bruce II|publisher=Krause Publications| year=1994| id=ISBN 0-87341-207-9 }} |
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{{refend}} |
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⚫ | |||
{{Standard numismatics external links |
{{Standard numismatics external links |
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| world_coin_gallery_1_url = Turkmen |
| world_coin_gallery_1_url = Turkmen |
Revision as of 21:41, 29 May 2007
türkmen manat / түркмен манат Template:Tk icon | |
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ISO 4217 | |
Code | TMM |
Unit | |
Plural | manat |
Symbol | m |
Denominations | |
Subunit | |
1/100 | tennesi |
Plural | |
tennesi | tennesi |
Banknotes | 1, 5, 10, 20, 50, 100, 500, 1000, 5000, 10000 manat |
Coins | 500, 1000 manat |
Demographics | |
User(s) | Turkmenistan |
Issuance | |
Central bank | Central Bank of Turkmenistan |
Valuation | |
Inflation | 11% |
Source | The World Factbook, 2006 est. |
The manat is the currency of Turkmenistan. It was introduced on November 1, 1993, replacing the Russian ruble at a rate of 1 manat = 500 ruble. The ISO 4217 code is TMM and the manat is subdivided into 100 tennesi. The abbreviation m is sometimes used, e.g., 25 000 m is twenty-five thousand manat.
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.
Coins
In 1993, coins were introduced in denominations of 1, 5, 10, 20 and 50 tennesi. The 1, 5 and 20 tennesi were struck in copper-plated-steel, with the higher denominations in nickel-plated-steel. In 1999, after a period of high inflation, 500 and 1000 manat coins were introduced.
Banknotes
In 1993, notes were introduced in denominations of 1, 5, 10, 20, 50, 100 and 500 manat. These were followed by notes for 1000 manat in 1995 and 5000 and 10,000 manat in 1996. In 2005, a new series of notes was introduced in denominations of 50, 100, 500, 1000, 5000 and 10,000 manat. All notes bear a portrait of former president Saparmurat Niyazov.
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.
Current TMM exchange rates | |
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From Google Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD |
From Yahoo! Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD |
From XE.com: | AUD CAD CHF CNY EUR GBP HKD JPY USD |
From OANDA: | AUD CAD CHF CNY EUR GBP HKD JPY USD |
Note: Rates obtained from these websites could be substantially different from black market rate
See also
References
- Chester L. Krause & Clifford Mishler (1991). Colin R. Bruce II (ed.). Standard Catalog of World Coins: 1801-1991 (18th ed. ed.). Krause Publications. ISBN 0-87341-150-1.
{{cite book}}
:|edition=
has extra text (help) - Albert Pick (1994). Neil Shafer & Colin R. Bruce II (ed.). Standard Catalog of World Paper Money, General Issues (7th ed. ed.). Krause Publications. ISBN 0-87341-207-9.
{{cite book}}
:|edition=
has extra text (help)