Nearly 80% of old banknotes and coins have been removed from circulation in Turkmenistan. This was reported on 6 April by Central Bank chairman Guvanchmyrat Goklenov at an expanded government meeting which summed up the results of the social and economic development of Turkmenistan in the first quarter of 2009.
It should be recalled that Turkmenistan introduced new banknotes and coins on 1 January 2009. New banknotes with high decree of protection meet international standards. 1 denominated manat is worth 500 old manat, and 1 USD is worth 2 manat 85 tenge.
Pensions, state allowances, salaries, stipends and payments to tenant farmers are made in new banknotes. The exchange of old banknotes to new banknotes will be carried out until 2011 in all banks of Turkmenistan in unlimited amounts.
