Current Money situation in Turkmenistan

[MaUji]

Hi everyone,

I know this is a pain point but any recent experiences regarding ATM use with foreign cards in Ashgabat or advice for money exchange?

I’ll be in Turkmenistan for about a week and would like to avoid to carry all the cash I need.

Also, any improvements regarding getting a local sim card or an esim?

Please advise. Thank you!

[stansvisitor]

Hi, Did you figure this out? If so can I ask about the situation as Im traveling in Sep...

[Bakhtiyark]

I'm not aware if this has changed but previously whenever you pay by card or withdraw from an ATM you would be charged per the official exchange rate(3.5TM per dollar) whereas the market rate was 5 to 6 times more at the time. Personally, i'd take no chances and carry dollars and exchange them there at a bazar.

[MaUji]

Hi, Did you figure this out? If so can I ask about the situation as Im traveling in Sep...

Bakhtiyark is absolutely right. I’ve come back and the only economical thing to do is take US dollars and exchange them at a bazaar which will give you a way better rate than the banks.

[charleschanp]

I just came back. Don't ever go to the bank,

Guide said black market rate is about 19 now (November 2024)
I exchanged at the UZ border for 15. The guy at the border started with 10 and I walked away, and he offered 15, which i took as i didn't change a lot anyway.

I believe all guides would want your dollars too and will exchange discreetly in tour. At least one of my guides will. So there is no need to go to the bazaar. But according to my guide, they might have different rates. So I still prefer to enter the country with a prior known rate. So either negotiate with guide in advance before entering the country, or exchange at UZ border like I did.

Black market rate is not that underground. i think it's an open practice. For example, the duty free shops at the airport are openly pricing in dollars and manats at an effective rate of 15. Not 3.5.

All prices inside the country are in Manat even in fancy hotels like Yyldyz hotel. Guide said that you can also pay in dollars there but ask the rate first as it should not be the 3.5. I didn't try paying in dollars though Best to only use manats.

With rate of 15 or 19, the country becomes dirt cheap. A plov is about 25-35 manats. It's less than $2. I had a fancy dinner at Yyldz hotel and that was also only about $10 for the soup and sandwich, not a steak I exchanged $50 at the border and i was still left by quite a good amount in the end after the 3 day tour for driver's tips.

As of Nov 2024, as per my experience, i think budgeting 100 manats for a meal seems to be reasonable. Sometimes i even include the guide's meals in this too.

Because the country is so cheap, best to bring smaller denomination notes. Like 1 and 5 dollars. They will even have change back in dollars for these. Note that the $2 tourist tax per night to be payable in hotels are to be paid in dollars only. I had to pay $4, gave them $5 and they returned me $1.