Expert: annual inflation rate in Turkmenistan reached almost 300%

Professor of Applied Economics from Johns Hopkins University and director of Troubled currencies project Steve H. Hanke published the annual inflation rate chart of the Turkmen national currency manat, which at the moment amounts to 294%. Only Venezuela demonstrates worse performance with the inflation rate of 6888% as of late March 2018.

Sudan ranks third in hyperinflation rate with 91% inflation leaving Turkmenistan far ahead in the rating.

Throughout the year, from May 2017 the dollar exchange rate at the black market soared from 7 to 25 manats.

According to Radio Azatlyk, on 4 June the dollar exchange rate has reached 30 manats.

The official rates remains at the level of 3,5 manats per dollar.

Source: Chronicles of Turkmenistan