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    Currency in Turkmenistan TMT - Things to know

    Foreign exchange guide to Turkmenistan and the Turkmenistani manat


    What currency is used in Turkmenistan?

    The official currency of Turkmenistan (country code: TM) is the Turkmenistani manat, with symbol m and currency code TMT.

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    Things to know about the Turkmenistani manat

    The Turkmenistan manat (TMT) is the official currency of Turkmenistan, a country located in Central Asia. Here are a few things to know about the Turkmenistan manat:

    1. The Turkmenistan manat is abbreviated as TMT and is divided into 100 tenesi.
    2. The Central Bank of Turkmenistan is responsible for issuing and regulating the Turkmenistan manat.
    3. The exchange rate for the Turkmenistan manat is determined by the Central Bank of Turkmenistan, and the currency is not freely convertible.
    4. Turkmenistan has a largely state-controlled economy, with a focus on the production of natural gas and oil. The country's economy has been heavily impacted by fluctuations in global energy prices.
    5. The value of the Turkmenistan manat has been relatively stable in recent years, but the currency has faced criticism for its lack of convertibility, which makes it difficult for foreign investors to do business in the country.

    Travel money for Turkmenistan

    Save money and time by Ordering your Turkmenistani manat online from Travelex, you get better rates and can pick up the TMT cash locally or even on travel day at the airport.

    Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

    For card purchases if offered a choice of currencies always select to Pay in Turkmenistani manat otherwise you may get much worst exchange rates.


    Travel Ideas and Money Tips for Turkmenistan

    By far the most mysterious and unexplored of Central Asia’s 'stans, Turkmenistan became famous for the truly bizarre dictatorship of Saparmyrat Niyazov, who ruled as ‘Turkmenbashi’ (‘leader of the Turkmen’) until his death in 2006. Niyazov covered this little-known desert republic with grandiose monuments and golden statues of himself. Although many of these statues have since been dismantled, plenty of visitors still think of Turkmenistan as a sort of totalitarian theme park. But the least-visited of Central Asia’s countries is far more than this – it's an ancient land of great spirituality, tradition and natural beauty.

    The ancient cities of Merv and Konye-Urgench inspire visions of caravans plodding along the ancient Silk Road, while the haunting beauty of the Karakum desert and other quirky natural phenomena are equally mesmerising. The full Turkmen experience is ultimately about mingling with the warm and fascinating people themselves, whose hospitality is the stuff of legend.


    How to get around in Turkmenistan.

    Air transport is well priced and generally reliable, and well worth considering if you're in a hurry. Domestic Turkmenistan Airlines flights are heavily subsidised for locals (although not foreigners). Consequently demand is high and flights need to be booked in advance. Turkmenistan Airlines serves the country's main cities with a fleet of modern Boeing 717s. As the main hub, most flights go in and out of Ashgabat, though there are also flights from Dashoguz to Turkmenbashi, Mary and Turkmenabat; from Mary to Turkmenbashi; and from Turkmenbashi to Turkmenabat.

    Marshrutkas and minibuses are the most effective way to get around, though they're cramped for long journeys and you'll often have to wait for some time until they're full for them to depart. Shared taxis are a good alternative to marshrutkas, being faster and more comfortable (and you can even buy the remaining seats in a vehicle if you're in a hurry to get going). Buses are a slow but cheap way to get around. The Ministry of Motor Transport lists routes, timetables and fares – all, rather remarkably, in English: http://www.awtomenzil.gov.tm.

    Driving through Turkmenistan is perfectly possible if you arrive with your own vehicle, but it's expensive and full of hassles (road blocks, poor roads) and extra charges. Significantly, there’s also a road tax calculated by the kilometre for your route through the country.

    Trains are slow but comfortable and a great way to see the countryside and meet people. Train fares are likely to be charged in US dollars, although some travellers have reported paying in manat. You can expect to pay US$15 to US$20 for a journey of around eight hours.

    Darvaza Crater.

    ravel tips for Turkmenistan.

    The Door to Hell is also known as the Darvaza crater, named after a nearby village. It originates from the 1971, when Soviet geologists were prospecting for gas. They accidentally hit an underground gas pocket, causing the whole thing to collapse into a deep sinkhole. Fearing that the crater would emit poisonous gases, they had the brilliant idea to set the whole place on fire hoping it would burn out quickly. But here we are, almost half a century later, and the thing is still burning. Not surprisingly, Turkmenistan has the fourth largest gas reserves in the world.

    When the USSR crumbled in 1991, the five Central Asian states became countries in their own right for the first time, and replaced communism with burgeoning national identities. Turkmenistan soon became known for the bizarre personality cult of the late President Niyazov, who died in 2006, turning the capital Ashgabat into a shrine to himself, including a golden statue that rotated with the sun.

    Turkmen culture is far more than just Niyazov and his successor, current president Gurbanguly Berdimukhamedov, although there’s plenty of propaganda books you can buy to remember them long after you’ve left. Descendants of nomadic desert tribes, the Turkmen infuse their Islam with animism. You’ll find pilgrims’ shrines dotted all around the country, with locals stopping to worship, leave items for luck, and attend to rituals, like walking around minarets in circles.

    With such an unusual history, be prepared for a few wild travel moments. The border crossing is an experience in itself, and the guards will almost certainly go through your luggage. In a repressive political climate, it won’t come as much of a surprise that the police can be sensitive about photography, particularly around government buildings in Ashgabat.


    USD/TMT Market Data

    The below interactive chart displays the USD/TMT change and UP📈 DOWN📉 trends over the past 1 Year.

    1 USD =
    3.5000We compare provider deals to this wholesale mid-market rate. Read more
      1 TMT = 0.2857 USD   (Inverse rate)
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    Frequently Asked Questions

    What currency should I use in Turkmenistan?

    The domestic currency in Turkmenistan is the Turkmenistani manat.

    What is the Turkmenistani manat currency code and symbol?

    The three letter currency code for the Turkmenistani manat is TMT — symbol is m.

    Which countries use the Turkmenistani manat?

    It is the domestic currency in    Turkmenistan.

    Is the Turkmenistani manat a closed currency?

    No, the Turkmenistani manat is freely available and convertible. See guide: What is a closed currency?

    What are equivalent amounts of USD and TMT?

    $ 1 m 3.5000
    $ 5 m 17.50
    $ 10 m 35.00
    $ 20 m 70.00
    $ 50 m 175.00
    $ 100 m 350.00
    $ 250 m 875.00
    $ 500 m 1,750
    $ 1,000 m 3,500
    $ 2,000 m 7,000
    $ 5,000 m 17,500
    $ 10,000 m 35,000
    $ 20,000 m 70,000
    $ 50,000 m 175,000
    $ 100,000 m 350,000
    $ 0.2857 m 1
    $ 1.4285 m 5
    $ 2.8570 m 10
    $ 5.7140 m 20
    $ 14.29 m 50
    $ 28.57 m 100
    $ 71.43 m 250
    $ 142.85 m 500
    $ 285.70 m 1,000
    $ 571.40 m 2,000
    $ 1,429 m 5,000
    $ 2,857 m 10,000
    $ 5,714 m 20,000
    $ 14,285 m 50,000
    $ 28,570 m 100,000

    More amounts

    Converted at USD/TMT interbank rate, compare Send Money and Currency Exchange exchange rates.

    Send Money to Turkmenistan - Best Rates

    To get a good (and fair) exchange rate when sending money to Turkmenistan you need to find and compare exchange rates for International Money Transfers (IMTs).

    The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.

    You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.

    Get a better deal for foreign transfers to Turkmenistan

    When sending money to Turkmenistan it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

    1. Open an account with a BER reviewed FX provider (id docs may be required)
    2. You specify the local or Turkmenistani manat amount you want to transfer
    3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
    4. Once your funds are received by the provider the converted TMT amount will be transfered to the recipient account you specify in Turkmenistan.

    Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Turkmenistani manat deposited into the recipient bank account and less margins and fees kept by the banks!


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