Converting from Turkmenistan Manat (TMT) to North Korean Won (KPW)

What is Turkmenistan Manat (TMT)

The Turkmenistan Manat (TMT) is the official currency of Turkmenistan, a country located in Central Asia. The manat was introduced in 1993, replacing the old Soviet ruble as part of the country’s efforts to establish its own economic identity after gaining independence from the Soviet Union. The currency is subdivided into 100 tenge, although smaller denominations are rarely used in practice.

The symbol for the manat is often represented as “m” or “TMT.” In terms of its value, the currency has undergone several changes over the years, primarily due to economic factors such as inflation and government policies. The Central Bank of Turkmenistan is responsible for issuing and controlling the manat, and it plays a crucial role in the country’s financial system. The exchange rate of the TMT can fluctuate significantly based on the country's economic conditions and regional market trends.

Despite being less recognized internationally, the manat is an important currency for conducting business and transactions within Turkmenistan. It is essential for anyone traveling to or dealing with Turkmenistan to familiarize themselves with the manat and its current exchange rate against other foreign currencies.

What is North Korean Won (KPW)

The North Korean Won (KPW) serves as the currency of North Korea, a country known for its strict governmental controls and isolationist policies. The won was established in 1947, initially pegged to the Soviet ruble. Like the manat, the Won is divided into 100 chon, although the chon is rarely used in transactions today.

The symbol for the North Korean Won is “₩” or sometimes just noted as KPW. Over the years, the currency has seen multiple reforms and redenominations, often as part of attempts to stabilize the economy and control inflation. The Bank of Korea, based in Pyongyang, issues the won and regulates its circulation.

Due to North Korea's unique economic situation and limited engagement with the global market, the KPW's exchange rates are tightly controlled by the government. This makes the won less stable compared to other currencies. Physical exchange of the North Korean won can be challenging, as foreign currencies are often preferred or even required for transactions within the country, especially in areas frequented by tourists.

Converting TMT to KPW

When considering a currency exchange from Turkmenistan Manat to North Korean Won, it is important to note that direct conversions may not always be feasible. Currency exchanges may have limited access to these currencies, and rates can vary. It's wise to check reliable financial sources for the latest exchange rates. The conversion rate can be determined by taking the amount in TMT and multiplying it by the current exchange rate to find the equivalent value in KPW:

KPW = TMT × exchange rate

Understanding both currencies can aid individuals traveling between Turkmenistan and North Korea, particularly for business or tourism.