The dollar exchange rate fell on Ashgabat’s “black market” of currency

On June 7, the dollar exchange rate on the black market of Ashgabat fell to 17.5 manats when buying and 18 manats when selling. Since March 2021, the exchange rate has fluctuated at the level of 19.5 manats per dollar.

According to currency traders, this is due to the fact that the government allocated foreign currency from reserves for the purchase of food.

On June 4, President Serdar Berdymukhammedov fired the vice-premiers in charge of agriculture and trade because they failed to meet their import substitution goals.

The head of state also announced the allocation of $150 million to entrepreneurs engaged in import-substituting production and another $150 million for the purchase of necessary food abroad.

Source: Chronicles of Turkmenistan