Translation of Abdulgamid’s original post in Russian from 12. 10. 2007

It seems that nothing epic is going to happen in 2009, but the new notes of Turkmen manats will be introduced.

Turkmenistan’s new banknote samples were approved at the top level on October 11. The banknotes will be circulated in 2009. The design of new banknotes have been prepared by British company De La Rue International Limited that has been cooperating with Turkmenistan in the sphere of national currency mint since the first years of independence.

Turkmen President Gurbanguly Berdimuhamedov acquainted himself with banknote samples during the meeting with the UK company executives - James Hassi, Jim Richards and Will Stamper. Having approved the national currency design, the head of state thanked the company for the good job.

As the Turkmenistan.ru’s correspondent reports, new banknotes will bear the images of prominent figures of the Turkmen nation and architectural compositions of Ashgabat. 1 manat banknotes will bear the image of Togrul Bek Turkmen, 5 manat banknotes - Soltan Sanjar Turkmen, 10 manat banknotes - Makhtumkuli Fragi, 20 manat banknotes - Gerogly Bek Turkmen, 50 manak banknotes - Gorgut Ata Turkmen, 100 manat banknotes - Oguz Khan Turkmen. The image of Turkmenistan’s first president Saparmurat Niyazov will be drawn on 500 manat banknotes.

However, what does really get attention is the fact that current exchange rate is 24000 Turkmen manats per one US dollar while banknotes of only more than 1000 manats are actively circulating in the market. Why would be these notes of value from 1 to 100 needed? Is it just in case (or making it obvious) if the economy will undergo monetary reform along with the issue of new banknotes and one manat will cost much more than 0,0024 USD.

Another as important moment is that the portrait of Saparmurat Niyazov will be placed only on 500 manats banknote while today all turkmen money of any value hold the Turkmenbashy image.