On May, 2021 two orders from the central office of “Khalkbank” in Ashgabat were forwarded to the Dashoguz office by fax.Pursuant to the first order, the amount to be deposited on a VISA card in foreign currency has been reduced from со $100 to $50 a month.
According to the second document, Western Union offices will resume its operations in June but only US dollars will be accepted for money transfers.Correspondents of “Chronicles of Turkmenistan” report that it will no longer be possible to convert manats into dollars using the official rate.
Let us recall that on 24 February, 2021 “Visa” foreign currency deposits were accepted only from parents of study-abroad students.
However, a week later the bank customers were informed that, pursuant to the instructions issued in Ashgabat, no cash would be accepted until further notice.
Only those who managed to obtain a customer identification number were able to make transfers.
Crediting VISA card accounts and transferring manats via WU were the only options available to convert manats into dollars using the official rate, which is 3,5 manats per US dollar. Study-abroad students could use this money.
The dollar exchange rate “at the black market” is 39 manats.
Western Union ceased money transfer transactions overseas on 5 April.The post Turkmenistan bans crediting VISA foreign currency accounts; WU to accept only US dollars for money transfer transactions first appeared on Chronicles of Turkmenistan.