# Turkmenistan new manat

> currency of Turkmenistan

**Wikidata**: [Q486637](https://www.wikidata.org/wiki/Q486637)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/Turkmen_manat)  
**Source**: https://4ort.xyz/entity/turkmenistan-new-manat

## Summary
The Turkmenistan new manat (TMT) is the official currency of Turkmenistan, introduced on January 1, 2009, to replace the original Turkmen manat at a rate of 1 new manat to 5,000 old manat. It is denoted by the ISO code TMT and serves as the primary medium of exchange in the country.

## Key Facts
- **Official currency**: The new manat is the legal tender of Turkmenistan, a country in Central Asia established on October 27, 1991.
- **Introduction date**: Launched on January 1, 2009.
- **ISO code**: TMT.
- **Redenomination**: Replaced the original Turkmen manat (TMM) at a ratio of 1:5,000 to combat hyperinflation.
- **Aliases**: Turkmenistani new manat, TMT.
- **Wikidata description**: "Currency of Turkmenistan."
- **Sitelink count**: 59 (indicating its presence across 59 Wikimedia projects).
- **Wikipedia title**: "Turkmen manat."

## FAQs
- **When was the Turkmenistan new manat introduced?**  
  It was introduced on January 1, 2009, replacing the old manat to stabilize the economy.

- **What is the relationship between the new manat and the old Turkmen manat?**  
  The new manat (TMT) replaced the original manat (TMM) at a rate of 1 TMT = 5,000 TMM to address severe inflation.

- **What is the ISO code for the Turkmenistan new manat?**  
  Its ISO 4217 code is TMT, distinguishing it from other global currencies.

- **Why was the new manat created?**  
  It was introduced to reform Turkmenistan’s economy by simplifying transactions and curbing hyperinflation from the devalued old currency.

## Why It Matters
The Turkmenistan new manat is central to the country’s economic stability, introduced to rectify the hyperinflation and devaluation of the original manat. As the official currency, it facilitates domestic and international trade, reflecting Turkmenistan’s economic policies and global integration. Its creation marked a critical step in modernizing the nation’s financial system, directly impacting the daily lives of citizens and the country’s economic credibility.

## Notable For
- **Redenomination milestone**: One of the largest currency redenominations in history (1:5,000 ratio).  
- **ISO recognition**: Assigned the unique code TMT, formalizing its status in global finance.  
- **Economic reform symbol**: Embodies Turkmenistan’s efforts to stabilize its economy post-independence.  
- **Current circulation**: Remains the sole legal tender in Turkmenistan since 2009.

## Body

### Introduction and History
The Turkmenistan new manat (TMT) was introduced on **January 1, 2009**, as part of a comprehensive economic reform initiative. It replaced the original Turkmen manat (TMM), which had suffered extreme devaluation due to hyperinflation in the 2000s. The redenomination ratio—**1 new manat to 5,000 old manat**—aimed to simplify financial transactions and restore public confidence in the currency.

### Relationship to Old Manat
The original Turkmen manat (TMM) was the national currency from 1993 until 2009. By the mid-2000s, inflation had rendered the TMM impractical, with prices quoted in thousands or millions of manat. The introduction of the TMT eliminated the need for high-denomination bills and aligned Turkmenistan’s currency structure with international standards.

### Economic Context
Turkmenistan, a Central Asian nation established on **October 27, 1991**, relies heavily on natural gas exports. The new manat’s launch coincided with broader economic restructuring efforts, including price liberalization and fiscal policy adjustments. The TMT is managed by the **Central Bank of Turkmenistan**, which regulates monetary policy to maintain stability.

### Global Standards
The TMT’s **ISO 4217 code** (TMT) ensures its recognition in international trade and finance. While not pegged to a foreign currency, its value fluctuates based on Turkmenistan’s economic performance and global market dynamics. As of 2024, the TMT remains non-convertible, restricting its use primarily to domestic transactions.

### Cultural and Technical Specifications
Banknotes and coins of the TMT feature national symbols, such as the **Akhal-Teke horse** and portraits of the first president, Saparmurat Niyazov. Denominations include 1, 2, 5, 10, 20, 50, 100, 200, and 500 manat. The currency’s design and security features have been updated periodically to prevent counterfeiting.

### Challenges and Criticisms
Despite its role in curbing inflation, the TMT faces challenges due to Turkmenistan’s reliance on energy exports and limited economic diversification. The government’s strict control over exchange rates and currency conversion has led to black-market activity, particularly during periods of economic strain.

### Academic and Statistical Context
The new manat is referenced in **59 Wikimedia projects** (per sitelink count) and is documented under the Wikidata item "Turkmen manat." Its introduction has been analyzed in economic studies as a case of post-Soviet monetary reform, highlighting both the benefits of redenomination and the persistence of structural economic challenges in Turkmenistan.

## References

1. ISO 4217
2. Freebase Data Dumps. 2013
3. GF WordNet