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.

In addition, pocket-size cards comparing the denomination of old and new manat were distributed to the public. And the Central Bank of Turkmenistan set up a phone hotline to answer questions from ...

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 ...

In compliance with the decree dated 7 February 2005, 1 new Azerbaijani manat will be equal to 5,000 old manats. The old banknotes will be in force along with the new one till 31 December 2006.

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 ...

ASHGABAT -- Turkmenistan's already battered currency slid sharply as black market rates reached 40 manats to the U.S. dollar, down nearly 50 percent since January. The manat has been under ...

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 ...