During the Cabinet of Ministers meeting held on 17 December, the president of Turkmenistan demanded to strengthen preparations for the forthcoming denomination of the currency and keep the issue under strict control.
Underlining the timeliness and the crucial importance of this step, especially in the ongoing crisis of the global financial system, Gurbanguly Berdymuhamedov, noted that the entry into circulation of a new model of manat from 1 January 2009, will help to develop national economy, and sustain growth of welfare.
The Head of State instructed Muhammedov, the Deputy Chairman of the Cabinet of Ministers, to ensure full preparation for denomination in trade and services. In particular, the president demanded to verify the existence price tags indicating old and new prices. For the New Year”s celebration the main task is to assure choice of products in markets so people can purchase necessary good.
New series of banknotes will be put into circulation in Turkmenistan from 1 January, 2009.
Current 5.000 will be equal to 1 manat of a new denominated manta. Current largest banknote of 10.000 will be equal to 2 new denominated manat.
Current official currency exchange rate is 14.200 manat for 1 U.S. dollar.
