ASHGABAT, Turkmenistan, May 3. The authorized capital of all registered banks in Turkmenistan amounted to almost 7.23 billion Turkmen manat ($2.07 billion) as of March 1, 2024, Trend reports.
According to the Central Bank of Turkmenistan, this is 5.7 percent more compared to the corresponding date of the previous year, when it amounted to 6.84 billion Turkmen manat, or $1.95 billion.
The authorized capital of state-owned commercial banks at the beginning of March 2024 amounted to 2.43 billion Turkmen manat ($694.28 million), which is 10.4 percent more than in the same month of 2023 (2.2 billion Turkmen manat, or $628.57 million).
At the specified time, the authorized capital of joint-stock commercial banks increased by 5.6 percent compared to the beginning of March 2023 (1.78 billion Turkmen manat, or $508.05 million), amounting to 1.88 billion Turkmen manat ($536.59 million).
Meanwhile, the authorized fund of the State Development Bank of Turkmenistan remained unchanged for the year, and as of September 1, this year, it amounted to 2.85 billion Turkmen manat ($813.45 million).
Data from the Central Bank of Turkmenistan show that the official exchange rate of the Turkmen manat against the US dollar as of May 3, 2024 is set at 3.5 manats per USD.