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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 |
