In our paper we present effect of pressure on magnetic properties of La_{0.85}Ag_{0.15}MnO_{3} nanopowders prepared by glycine-nitrate method. The particle size and crystal structure were modified by heat treatment. The average size of particle varies from about 25 nm for as prepared sample to 60 nm for annealed sample. Crystal structure changes from orthorhombic to rhombohedral after annealing at 600 °C/2 hours. The Curie temperature increases with annealing and is more than doubled after annealing at 600 °C/2 hours. The exchange bias phenomenon was observed in samples with orthorhombic crystal structure with average particle size of about 25 nm. Pressure effect on the Curie temperature T_{C}, saturated magnetization μ_{s} and exchange bias field H_{E} is negligible in this case. In the case of the samples with rhombohedral structure, T_{C}, μ_{s} and remnant magnetization μ_{r} increase with pressure; the coercive field decreases with pressure.
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