Turkmenistan, Ashgabat, Dec. 24 / Trend H.Hasanov /
The Central Bank will withdraw the old money from circulation from Jan. 1, 2010, Neytralniy Turkmenistan newspaper reported with reference to the Turkmen Central Bank
Turkmenistan has injected an article about gradual transition to market relations to the new edition of the Constitution roughly a year ago. The Central Bank unified exchange rates of the national currency, and declared a denomination at the beginning of 2009
The old banknotes have been fully removed from the circulation and new banknotes constitute over 98 percent the total cash money.
It will be possible to exchange old banknotes within the country by late 2010.
Presently the Central Bank of Turkmenistan is constantly controlling money circulation and inflation in the country
The monetary reform enabled to reduce net amount of money servicing payment transactions and simplified people's calculation for goods and services, as well as transactions accounting in cash and in non-cash forms
From the very beginning of denomination, old banknotes and coins were replaced with banknotes of 2009 in accordance with preliminary calculations of the Central Bank of Turkmenistan.
As a logical continuation of the ongoing national currency reform, 1- and 2- manat coins will be put into circulation on Jan. 1, 2010. New bimetallic coins, made of alloys of several metals, including brass, nickel and copper, were fabricated by British Royal Mint