OREANDA-NEWS. On May 1, 2008 the unified official exchange rate comes into effect in Turkmenistan. The Central Bank of Turkmenistan established the exchange rate of 14,250 manats per dollar.

The foreign currency will be sold to all legal entities irrespectively of the pattern of ownership and natural entities in accordance with the established unified exchange rate. The foreign currency will be sold via the Interbank Monetary Exchange of Turkmenistan and the network of the exchange offices of the commercial banks of Turkmenistan. The exchange rate will be based on the official unified rate established by the Central Bank of Turkmenistan.

According to the Central Bank of Turkmenistan, there is every requisite to satisfy the supply and demand for the foreign currency when transferring to and maintaining the unified exchange rate. As is known, the large-scale preliminary work carried out in the context of the social and economic reforms initiated by President of Turkmenistan Gurbanguly Berdimuhamedov and aimed at strengthening the national currency underlay this decision. Denomination of the national currency unit that is aimed at further enhancing and developing national economy in transition to marker relations and promoting Turkmenistan’s’ integration into the global economic system will serve this purpose.