The US dollar has weakened on Turkmenistan's unofficial currency market. As of July 20, the dollar was trading at 19 manats and selling at 19.25 manats in Ashgabat, reported Hronikatm.com.
Similar figures were recorded in Turkmenabat. Previously, the average selling rate was around 19.50 manats, and over the past year, it has fluctuated between 19.20 and 19.80 manats. Market participants attribute this change to a decline in demand for foreign currency, including due to restrictions on trade with Iran and the reduction in the number of foreign universities whose students can receive foreign currency transfers.
Analytical Commentary
The decline in the dollar exchange rate on Turkmenistan's black market primarily reflects changes in domestic demand for foreign currency, rather than a fundamental strengthening of the national currency. With the official exchange rate of the manat fixed, the informal market remains the indicator of the real balance of supply and demand.
One factor was the decline in foreign currency spending by households related to education abroad and international payments. Changes in border trade with Iran, where reduced activity reduced the need for foreign exchange transactions, could have had an additional impact.
By comparison, in Kazakhstan, Uzbekistan, and Kyrgyzstan, exchange rates are determined primarily by market mechanisms and respond to export revenues, inflation, and foreign trade flows. In these countries, national currency fluctuations occur more openly. In Turkmenistan, the difference between the official and unofficial exchange rates remains an important indicator of the state of the foreign exchange market and the confidence of economic participants.
The current exchange rates of the national currencies of Central Asian countries against the US dollar are:
- $1 = 467.5 Kazakhstani tenge
- $1 = 11,986.5 Uzbekistani som
- $1 = 87.5 Kyrgyzstani som
- $1 = 9.24 Tajikistani somoni
- $1 = 3.5 Turkmenistani manat
CentralasianLIGHT.org
July 22, 2026