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Wednesday, December 2, 1998 Published at 19:42 GMT World: Asia-Pacific Turkmenistan restricts currency conversion The Central Bank of Turkmenistan has introduced strict controls on the local currency, the manat, which in recent weeks has been traded illegally at half its official value. From now on, the only people allowed to buy hard currency for foreign trips will be government officials, students abroad, and those leaving for medical treatment. The Bank says it is a temporary measure to ease a drop in revenue from the export of natural gas. Turkmenistan has been unable to sell any of its huge gas reserves for more than a year due to a price dispute with Russia, which still controls the main pipeline from the country. Turkmen television said several people were injured at the weekend in a scramble for dollars at one of the state-run banks. From the newsroom of the BBC World Service |
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