The year “International Year of Peace and Trust” is rich in significant events that will be written in golden letters in the glorious history of our Homeland. Along with the celebration of the 34th anniversary of our Independence, this year also marks the 32nd anniversary of the introduction of our national currency, the Turkmen manat, which will be widely celebrated throughout the country. 

Money is considered an important component of the economic system of any country. Historically, money emerged as a result of the gradual evolution of trade and exchange relations. As economic relations between peoples expanded, various forms of monetary instruments came into use. Over time, the concept of money has developed, and today it includes modern systems such as non-cash payments, bank cards, electronic money, and digital wallets.

At present, the Turkmen manat has taken its rightful place as a significant symbol reflecting the stability of our national economic development. Since the introduction of the national currency on November 1, 1993, Turkmenistan has achieved internationally recognized success in economic growth. The creation of the national currency symbolizes not only economic achievements, but also state independence and sovereignty.

The issuance of the manat in the early years of Independence created a solid foundation for the implementation of an independent monetary and credit policy in our country. According to the Constitution of Turkmenistan, the Central Bank of Turkmenistan, which conducts the unified monetary and credit policy, operates on a legal basis. The main functions of this institution include organizing cash circulation, developing the payment system, and ensuring its stable functioning.

The continuous improvement of legislation related to our national currency increases the effectiveness of the monetary and credit policy carried out in our country. The Constitution of Turkmenistan clearly states that the manat is the only legal means of payment within the territory of the country. In the current era of globalization, work continues to regulate foreign economic relations and maintain the stability of the national currency through relevant laws. This serves as clear evidence of our country’s economic progress at a time when we celebrate the 32nd anniversary of our national currency.

compiled by Atamyrat GYLYJOV,

student of the Institute of International Relations
of the MFA of Turkmenistan.