The total volume of loans issued by banks of Turkmenistan in the national currency in January 2023 amounted to 419.63 million Turkmen manats ($120.11 million), Trend reports with reference to the Central Bank of Turkmenistan.
According to the information, the average interest rate on loans for the specified period was 4.64 percent.
Out of the total volume in the reporting period, loans were issued to legal entities in the amount of 254.35 million Turkmen manats ($72.8 million), which is more than half as much as in January 2022 (523.34 million Turkmen manats or $ 149.8 million).
Furthermore, in the first month of this year, banks of Turkmenistan issued loans to individuals in the amount of 165.28 million Turkmen manats ($47.3 million), which is 26.9 percent more than in the same period last year (130.17 million Turkmen manats or $37.2 million).
Meanwhile, according to the Central Bank of Turkmenistan, the official exchange rate of the Turkmen manat against the US dollar on May 1, 2023 is set at 3.5 manats per dollar.
Source: Trend News Agency