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10 000 Manat

Issuer Central Bank of Turkmenistan
Year 1996
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Reference(s) P#10
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Reverse description The state emblem of Turkmenistan is centrally positioned, rendered in fine intaglio line work and enclosed within an elaborate guilloche surround incorporating crescent and star motifs. The emblem itself displays a Akhal-Teke horse on a circular field encircled by traditional carpet ornaments, wheat ears, and olive branches, all set against an architectural arch underprint in warm ochre and blue tones. Denomination numerals appear in cartouches at each corner, with the year date 1996 printed in the lower right field.
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Protection type Watermark
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The 1996 high-denomination manat series appeared during a period of acute monetary instability in Turkmenistan, where inflation following independence from the Soviet Union had severely eroded the purchasing power of lower notes. The 10,000 manat was among the highest values issued before Turkmenistan's 2009 redenomination replaced the entire manat series at a rate of 5,000 old manat to one new manat — effectively confirming how far the currency had deteriorated in real terms.

De La Rue printed this on a relatively simple security platform for the denomination, relying on watermark protection at a time when the printer was supplying far more sophisticated specifications to other central bank clients.