President Gurbanguly Berdymukhammedov, speaking on national television, sought to assure his people that, unlike the old currency, the new manats will have a stable value. "Our stable and powerful ...

The old manats, known as AZM, encouraged a preference for dollars, noted independent economist Nazim Imanov. With the largest AZM banknote a mere 50,000 (a bit more than $10), people routinely used ...

No big backlash with the introduction of the new manat, which is worth 5,000 old manats. The innovation may have been introduced to foster a stable exchange rate, and attract foreign investment.

2006 due to transition to the new manat (AZN), 1 new manat equaled to 5,000 old manats (AZM). Later, the new banknotes of 1, 5, 10, 20, 50, 100 and metal coins of 1, 3, 5, 10, 20 and 50 gapik were ...

Inflation forced the Turkmenistan to redenominate its currency on January 1, 2009. Old manat was replaced with new manat at a 5,000-to-1 ratio. The official exchange rate was set at 2.85 TMT to ...

Privatization Shares Market During this period the prices of vouchers were stable and made up 80,000 old manats (16 AZN).

Yet amid this turmoil, Azerbaijan’s manat has fared much better. Suspiciously so. In fact, despite the same external pressures seen elsewhere, the manat has maintained an exchange rate of exactly 1.7 ...

Azerbaijan’s manat plunged to the weakest on record after the central bank relinquished control of its exchange rate, the latest crude producer to abandon a currency peg as oil prices slumped to ...

The manat was quoted by the central bank at 1.55 to the US dollar on Monday morning, 32.3 per cent weaker than on Friday night and half its value in January, putting it on track to be the world ...

ASHGABAT -- The Turkmen national currency, the manat, has lost some 10 percent of its value on the black market as citizens scramble to buy what little foreign currency is available. RFE/RL ...

BAKU, Jan 19 (Reuters) - Azerbaijan imposed some limits on foreign currency outflows in a package of measures adopted by parliament on Tuesday to prop up the oil producer's depreciating manat ...