TMT to ARS

ARS - Argentine Peso ($)

Argentine Peso

The Argentine Peso (ARS) is the currency unit for Argentina. The Peso symbol is the same as the dollar sign ($). The Peso is subdivided into centavos; 1 Peso = 100 centavos. The previous currency of Argentina was also called the Peso; however, the currency evolved and fewer zeros are currently being used.

The Argentine Peso is the currency in Argentina (AR, ARG). The symbol for ARS can be written $. The Argentine Peso is divided into 100 centavos. The exchange rate for the Argentine Peso was last updated on May 24, 2019 from Yahoo Finance. The ARS conversion factor has 5 significant digits.

Economy

• Before 1826, the Spanish silver eight-real coin was named the Peso. After Argentina became independent, the country started using new coin denominations: Escudos, Soles, and Reales. The coins were in circulation until 1881.
• From 1881, to 1969 the silver and gold Pesos were introduced. The gold coin denominations were 2½ and 5 Pesos, the silver coins were 5, 10, 20, and 50 centavos, as well as 1 Peso, and the copper coins were 1 and 2 centavos.
• From 1970 to 1983, the "Peso Ley" replaced the previous peso; 1 Peso Ley = 100 Pesos Nacionale.
• From 1983 to 1991, the Peso was replaced by the previous currencies.
• In 1992, the last Peso was introduced and is referred to by the international market as the Peso Convertible. A fixed exchange rate was established between the Central Bank of Argentina and the United States Dollar at a rate of 1 USD = 1 Peso. The agreement expired in 2001.
• After 2001, the fixed agreement with the USA expired, and since 2002, the exchange rate has been fluctuating.

History

• Argentina’s economy is rated as a higher middle economy.
• The economy is sustained by the abundance of natural resources, a diverse industry base, and an export-focused agricultural program.
• During the early twentieth century Argentina was considered the richest country in the southern hemisphere.
• The top industries are appliances, electronics, textiles, beverages, furniture, printing, chemicals, pharmaceuticals, motor vehicles, and food processing.
• Export products are soybeans, natural gas, aluminum, steel, refined fuel, machinery, vegetable products, and other industry products.
• Import products are mainly capital goods, consumer durables for the automotive industry, freight vehicles, lubricants, and refined fuel.

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TMT - Turkmenistani Manat (TMT)

Turkmenistani Manat

Turkmenistan New Manat (TMT) is equivalent to the old Turkmenistan Manat (TMM) on a basis of 1 Turkmenistan new Manat (TMT) = 5,000 Turkmenistan manat (TMM). The currency symbol is m. Turkmenistan is one of the six independent Turkic states. It is bordered by Afghanistan and Iran to the south, Uzbekistan and Kazakhstan to the north, and the Caspian sea to the west.

The Turkmenistan Manat is the currency in Turkmenistan (TM, TKM). The Turkmenistan Manat is divided into 100 tenga. The exchange rate for the Turkmenistan Manat was last updated on May 24, 2019 from Yahoo Finance. The TMT conversion factor has 2 significant digits.

Economy

• Turkmenistan's economy is primarily agronomic. Agriculture accounts for nearly half of the gross domestic product (GDP) and more than two-fifths of total employment. Industry accounts for about one-fifth of the gross domestic product.
• Turkmenistan has the fourth-largest reserves of natural gas in the world.
• Turkmenistan is the world’s tenth largest producer of cotton; approximately half of the country’s irrigated farmland is planted with cotton.
• The Turkmenistan economy places great emphasis on foreign economic relations and foreign trade and it hasan open-door trade policy. The most prominent trade partners of Turkmenistan are the United States, Turkey, Switzerland, Hong Kong, Germany, and the United Kingdom.

History

• The old Turkmenistan Manat (TMM) was introduced on November 1, 1993, replacing the Russian Ruble at a rate of 1 Manat = 500 Rubles.
• In 1993, notes were introduced in denominations of 1, 5, 10, 20, 50, 100 and 500 Manat. These were followed by notes for 1,000 Manat in 1995 and 5,000 and 10,000 Manat in 1996.
• In 2005, a new series of notes was introduced in denominations of 50, 100, 500, 1000, 5000, and 10,000 Manat.
• The Turkmenistan New Manat was introduced in 2009. Notes are printed in denominations of 1, 5, 10, 20, 50, 100, and 500 New Manat.

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