ASHGABAT, Turkmenistan, December 22. The total volume of loans issued by banks in Turkmenistan in national currency from January through September 2023 amounted to 9.29 billion Turkmen manat ($2.66 billion), of which 1.1 billion Turkmen manat ($314.8 million) were issued in September alone, Trend reports.
According to the Central Bank of Turkmenistan, this figure is 3.2 times lower than the first nine months of the previous year, when it was 30.41 billion Turkmen manat ($8.7 billion).
During this period, legal entities received loans in the amount of 5.64 billion Turkmen manat, which is equivalent to $1.61 billion, a decrease of more than 4.8 times compared to the period from January through September 2022, when it reached 27.6 billion Turkmen manat ($7.9 billion).
Furthermore, banks in Turkmenistan extended loans to people totaling 3.65 billion Turkmen manat ($1.04 billion) in the first nine months of this year, nearly 30 percent more than in the same time previous year (2.81 billion Turkmen manat or $804.33 million).
Meanwhile, the Turkmen manat's official exchange rate against the US dollar on December 22, 2023, is fixed at 3.5 manats per dollar, according to the Central Bank of Turkmenistan.