50 Manat

Turkmenistan's second manat series, introduced in 2009, replaced the transitional currency that had itself only been in circulation since 2009 — a redenomination at 5,000 old manat to 1 new manat, one of the more extreme currency conversions of the post-Soviet period. Thomas De La Rue handled the entire series, a common choice for newly redenominated currencies where governments want an internationally credible production house behind the paper.

The colour-shifting ink on this denomination was a meaningful security step for a country where counterfeiting of the transitional notes had been a documented concern in border regions.