The dollar exchange rate “at the black market” drops down by yet another manat

13 June, 2021

The dollar exchange rate at “Ashgabat’s black market” continues to drop down. As of 13 June, 2021 the dollar was bought at 33,5 manats and sold at 34,5 manats.

A week ago the dollar exchange rate went down from 36 to 35,5 manats.

The dollar exchange rate increased from November, 2020 when its value was 24 to 25 manats to April 2021, when it peaked to 40 manats. Then the dollar value saw a declining trend.

We have failed to find out the reasons behind such significant fluctuations. One of the possible reasons is that due date for repaying the loan to China, for which foreign currency reserved have been used, is approaching.

President Gurbanguly Berdymukhammedov first brought up the topic of settling the debts to foreign investors on 11 March, 2021.At that time, however, the dollar exchange rate started soaring.

The announcement on full repayment of the loan to China was made on11 June, 2021.The post The dollar exchange rate “at the black market” drops down by yet another manat first appeared on Chronicles of Turkmenistan.

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