Turkmenistan keen on maintaining manat's exchange rate stable
By Aynur Karimova
Turkmen President Gurbanguly Berdymukhamedov has instructed the managers of the banking sector of the country to take necessary measures to maintain the stability of the national currency, the manat.
"It is necessary to ensure the stability of the economic system, investment activity, to take necessary measures to maintain the stability of the national currency and its purchasing power. It is important to focus on increasing the volume of export of goods abroad and building up reserve monetary fund," Turkmen media quoted President Berdymukhamedov as saying on January 8.
Turkmen president believes that the main challenges standing before the banking sector of the country is to keep the inflation rate within prescribed limit (at 6.6 percent), to ensure the country's economy with necessary amount of funds through monetary regulation and control.
The Turkmen government pays significant attention to ensuring the economic stability in the country. Early last year, the Central Bank of Turkmenistan set the official exchange rate of the manat at 3.5 manats per USD, which is still preserved. Previous exchange rate at 2.85 manats per dollar remained unchanged in Turkmenistan since 2008. Thus, the Turkmen government was again lucky to keep the exchange rate of the national currency stable in 2015.
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Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova
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