Turkmenistan Celebrates 30th Anniversary of Its National Currency, Manat

Turkmenistan Celebrates 30th Anniversary of Its National Currency, Manat
Turkmen manat banknotes in circulation

Turkmenistan celebrates the 30th anniversary of introducing its national currency, the manat. In celebration of this milestone, Turkmen President Serdar Berdimuhamedov extended warm congratulations to the workers of the banking sector, Turkmenistan's official media reported on Wednesday. 

The introduction of the manat marked a significant step in the country's financial and economic development.

The introduction of the national manat into circulation has created positive opportunities for the harmonious development of the economy, stable money circulation and effective implementation of a unified state monetary policy. The strategy of this policy consists of the formation of favourable macroeconomic conditions for ensuring the stability of money circulation and achieving stable economic development, improving the material well-being of the population, strengthening the competitiveness of the national economy and successful integration of the banking system into the international financial market. In achieving these goals, great importance is attached to the banking system of the state as an integral component of the market economy," the congratulatory letter of the Turkmen President states.

The manat was introduced as Turkmenistan's national currency on November 1, 1993, and manat coins and banknotes were circulated from January 1, 2009.