Money

Currency : 1 Manat (TMM) = 100 tenge. Notes are in denominations of TMM10,000, 5000, 1000, 500, 100, 50, 10, 5 and 1. Coins are in denominations of 50, 20, 10, 5 and 1 tenge.

Currency exchange : The preferred hard currency is US Dollars and visitors carrying other currencies may find it hard to change them. It is advisable to take new, clean US Dollar notes in small denominations. Foreign currency can be changed at banks and major hotels. Foreigners are expected to pay all travel and hotel bills in hard currency, and prices bear little relation to what locals are expected to pay. Most packages are all-inclusive and extra payment of accommodation and meals is unnecessary.

Credit & debit cards : Not generally accepted.

Travellers cheques : Should be in US currency, but are generally not accepted.

Currency restrictions : The import and export of local currency is prohibited for foreigners. Import of foreign currency is unlimited subject to declaration, and export is limited to the amount declared on import.

Exchange rate indicators :
The exchange rate was US$1 = TMM1000 (official) or TMM3000 (commercial) in April 1996, when it was announced that the official rate would be discontinued. From then on, a unified exchange rate was introduced for all transactions, determined by trading on the Turkmen Interbank Currency Exchange, which commenced operations in 1996.

 Date

Feb 03

May 03

Aug 03

Nov 03

 1.00 =

5699.70

5804.00

7024.74

8811.27

 $1.00 =

5200.00

5200.00

4975.00

4975.00

Note : * Values are given against the Euro rather than Sterling as an accurate exchange rate against Sterling is not available.

Banking hours : Mon-Fri 0930 -1730

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Information provided by Turkmenistan Tourism Board.

 

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