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P24 10 Manat (132 x 66 mm):
Magtymguly Pyragy (1733-1783): Also known as
“Makhtumkuli”, he is the most prominent figure in Turkmen
poetry; emphasizing unity and independence in his works.
The reverse features the main building of the Central Bank of
Turkmenistan.
P25 20 Manat (138 x 69 mm):
Görogly Beg Türkmen (eleventh century): Also known as
“Köroğlu” in Turkey and Azerbaijan. He is a folk poet famous
in this part of the world for his protest poems against the feudal
lords. His works were later combined as Köroğlu Destanı (The
Legend of Köroğlu). On the reverse there is the Ruhyýet Köşgi
(Palace of Spirituality).
P26 50 Manat (144 x 72 mm):
Gorgut Ata Türkmen (fourteenth century): Known as “Dede
Korkut” in Turkey, “Dede Qorqud” in Azerbaijan, “Qorqyt Ata”
in Kazakhstan, “Qorqut Ata” in Kyrgyzstan and “Qo’rkut Ota”
in Uzbekistan. He is the hero of a 14th century epic legend
about the Oghuz Turks, although few people believe he was a real
person. This legend was banned in the Soviet Union during the
Stalinist era, due to the fear that it might unite the Turkic people
of the USSR. The reverse of the note features Türkmenistanyň
Mejlisi (The National Assembly of Turkmenistan).
P27 100 Manat (150 x 75 mm):
Oguz Han Türkmen (second century B.C.): Oguz Han or Oghuz
Khan is believed to be the founder of the Hun Empire in 209
B.C., the first Turco-Mongolian state known in recorded history.
All the Turkic peoples know him as the hero of the epic legend
Oguz Kagan. On the reverse is Prezident Köşgi (President’s Palace).
P28 500 Manat (156 x 78 mm):
Saparmurat Turkmenbashi (1940-2006): The first president of
independent Turkmenistan. I think I have said enough about
him. On the reverse is Kypçak Metjidi (Kipchak Mosque).
The 500-manat note is not designed for general circulation,
but is for interbank transactions; though it is available at a high
price. On the fixed exchange rate of one Dollar being equal to
2.80 Manats, its face value is 178 Dollars, more than double the
average monthly wage in the country.
The features common to all banknotes are:
• They were printed by De La Rue (DLR).
• Each note has a watermark depicting the portrait featured
on the obverse of that note.
• All notes have two security stripes, one being an imbedded
thread with the value in numerals.
• Stripes of the famous Akhalteke carpet designs, both on
the obverse and reverse. (Turkmen carpets are known as
Bukhara carpets in the West.)
• Intaglio printing on obverse, which can be felt with the
fingertips.
• Micro printing applied inside the geometric figures on the
obverse.
• UV feature with denomination.
• Raised marks for the visually impaired.
• 50-, 100- and 500-manat notes have an eight-point, starshaped
hologram on the obverse.
One last remark: There used to be a free market rate prior
to the currency reform, which was three times higher than the
official rate. The monetary reform aimed to abolish the black
market. The Central Bank took the former free market rate as
its base in setting foreign exchange rates. In addition, after the
reform, it is strictly forbidden to take the national currency
out of Turkmenistan. If the current rate survives as a stable
exchange rate, it may take time for Turkmen notes to become
widely available to collectors at “normal” prices, because of the
additional costs of taking them out of the country.
IBNS Journal 48.2 59