Information

This barrier is unrelated to the end of the transition period, following the United Kingdom's departure from the EU.

Public ID: PID-E9PML9

Mandatory conversion of overseas business revenues into local currency in Turkmenistan

in Turkmenistan

Trade barrier summary

The company has informed us that their revenues, previously received in USD, had to be converted into local currency, Manat, starting from May 2020. A decree of the President of Turkmenistan "On the establishment of a temporary reserve currency fund", No 1766, requires all income received in foreign currency to be transferred to a temporary reserve currency fund in Turkmenistan. This means that overseas businesses revenue has to be converted into the local currency Manat, and is an additional factor to consider when doing business in the market.

Sectors affected

  • Airports

Resolved

No

Date reported

30 June 2020

Last updated

18 December 2020

Public ID

PID-E9PML9

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