Turkmenistan Manat- TMT

DEFINITION of 'Turkmenistan Manat- TMT'

The official currency of the country of Turkmenistan. The Turkmenistan manat is divided into 100 tennesi. The manat was introduced in 1993 to replace the prior unit of currency used in Turkmenistan, the Russian ruble. Later in 2009, the new manat was placed into circulation, with an exchange rate of 5,000 old manat to one new manat.

BREAKING DOWN 'Turkmenistan Manat- TMT'

Manat was the word used in Turmen and Azeri for the Soviet ruble during the time of its use, and is similar to the Russian word for coin. At the time of the manat's release, coins (tennesi) were also introduced in denominations from one to 50. Later in 1999, 500- and 1,000-manat coins were circulated following a period of high inflation, with new coins (called tenge) put into circulation in 2009 during the nation's monetary reform.

RELATED TERMS
  1. Gresham's Law

    A monetary principle stating that "bad money drives out good." ...
  2. RUB (Russian Ruble)

    The currency abbreviation the Russian ruble (RUB), the currency ...
  3. Trillion Dollar Coin

    A trillion dollar coin is a theoretical coin that could be legally ...
  4. Currency In Circulation

    Currency that is physically used to conduct transactions between ...
  5. Active Money

    The total value of coins and paper currency in circulation amongst ...
  6. Mint

    The primary producer of a country's coin currency. The mint has ...
Related Articles
  1. Trading

    The Worst Performing Currencies Of 2015

    The U.S. dollar has strengthened over the past year while weakness in Europe and the former Soviet Union has led to declines in those currencies.
  2. Markets

    3 Economic Challenges Russia Faces in 2016

    Learn about the three largest challenges facing the Russian economy in 2016. How will low oil prices and high inflation impact the Russian economy?
  3. Markets

    3 Signs the Russian Economy Is Recovering

    Understand what has caused the Russian economy to decline in the past 18 months. Learn about key factors that are helping it recover.
  4. Trading

    Is it Time to Buy Russian Rubles?

    Does the Russian Ruble now present an opportunity? Or is there more pain to come?
  5. ETFs & Mutual Funds

    4 ETFs To Trade the Russian Ruble (RSX, ERUS)

    Discover which exchange-traded funds (ETFs) provide investors with the greatest exposure to the Russian ruble and learn about the risks that come with each.
  6. Managing Wealth

    Teaching Financial Literacy To Kids: What Is Money?

    Teach your kids what money is and how it works, from bartering, to cash and coin to the concept of credit.
  7. Markets

    Why The Russian Economy Rises and Falls With Oil

    The Russian economy depends on profitable oil production to pay for the cost of government, prop up the ruble, and provide most of it exports revenue.
  8. Markets

    The Collapse of Oil, the weak Ruble and Sanctions Hammer Russia

    The world's largest energy exporter, Russia, is experiencing negative growth as a result of depressed oil prices, a weakening ruble and sanctions. What will happen to the bear?
  9. Markets

    Is Now the Right Time to Buy Russian Stocks?

    Examine the state of the Russian equity market entering 2016 and learn why adding Russian stocks to your investment portfolio may be a good idea.
  10. Trading

    History Of Coinage In The U.S.

    From the barter system to commemorative coins, we look at the history of U.S. money.
RELATED FAQS
  1. Who decides to print money in Russia?

    Read about the Central Bank of the Russian Federation, its organizational structure and the role it plays in setting the ... Read Answer >>
  2. Which countries are most productive in terms of GDP?

    Countries around the world constantly compete with one another to be the most innovative and productive. Read to see which ... Read Answer >>
  3. What are the most common market indicators to follow the Russian stock market and ...

    Learn the primary stock market and economic indicators analysts use to follow the Russian market and overall economic conditions ... Read Answer >>
  4. Is there a world currency? If so, what is it?

    There is no such thing as a world currency. However, since World War II, the dominant or reserve currency of the world has ... Read Answer >>
  5. Which countries are able to produce oil and gas the cheapest?

    Read about the countries with the least expensive access to oil and gas, most of which are unsurprisingly located in the ... Read Answer >>
  6. How does inflation affect the exchange rate between two nations?

    Understand how inflation can affect foreign exchange rates of a currency and how it is just one of many economic factors ... Read Answer >>
Hot Definitions
  1. Duration

    A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. ...
  2. Dove

    An economic policy advisor who promotes monetary policies that involve the maintenance of low interest rates, believing that ...
  3. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
  4. Front Running

    The unethical practice of a broker trading an equity based on information from the analyst department before his or her clients ...
  5. After-Hours Trading - AHT

    Trading after regular trading hours on the major exchanges. The increasing popularity of electronic communication networks ...
  6. Omnibus Account

    An account between two futures merchants (brokers). It involves the transaction of individual accounts which are combined ...
Trading Center