The dollar exchange rate in Turkmenistan soars again. Residents await another redenomination

On Saturday, 7 April, the dollar exchange rate at the black market of Ashgabat set a new record reaching 15,60 manats. As of today the exchange rate has dropped down to 15 manats per dollar.

Turkmenistan's Central Bank continues to retain the official exchange rate at 3,5 manats per dollar.

Sharp fluctuations in the currency exchange rate and the lack of any official information with regard to the situation in the finance market are causing panic among the residents and generating various rumours and speculations.

Now many country's residents are discussing the alleged forthcoming manat redenomination, which, according to Turkmen residents, will help to conceal the official increase in the dollar exchange rate to the market level. Needless to say, there are no facts to prove this.

On the other hand, it may be assumed that on the contrary, such rumours result in soaring dollar exchange rate since people, fearing the forthcoming depreciation of the national currency, are trying to get rid of manats.

Source: Chronicles of Turkmenistan