Turkmenistan: Western Union Tightens Cash Transfer Rules
Restrictions on the circulation of cash out of Turkmenistan have reportedly been extended to a service popularly used to make transfers to relatives abroad.
The foreign-based Alternative News of Turkmenistan reported earlier this month that Western Union branches in the country had limited transfers out of the country to just $300 per transaction. The payment could be made only in manat at the state-approved exchange rate, which is lower than the black market rate. Operations carried out with a credit card incurred an additional surcharge equivalent to 8 percent of the sum being sent.
The monthly limit on how much can be transferred was set at $1,000 per person.
Operations also required presenting various documentation, including the Soviet-vintage propiska and employment record book, which evidently reflects the authorities desire to monitor who is sending what, where and when.
Although strict, the apparently informal rules appear to have not done enough to stem the outflow of dollars.
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