Getting US dollars (USD) inside Turkmenistan can be challenging due to the country’s controlled financial environment, but the primary and most reliable way to access USD from your own bank account is through The State Bank for Foreign Economic Affairs of Turkmenistan (Foreign Economic Bank).
The State Bank for Foreign Economic Affairs is the only institution for USD bank withdrawals inside the country. Other methods such as exchanging manat into USD are possible in theory, but essentially impossible in practice.
The Foreign Economic Bank: Getting US Dollars in Turkmenistan
The Foreign Economic Bank is the key institution that allows foreign card users (Visa and MasterCard) to withdraw USD cash within Turkmenistan.
Where and When
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Location: The main branch of the Foreign Economic Bank is located at 32 Garashsyzlyk Avenue, Ashgabat.
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Hours: Bank services are typically available Monday to Friday from 9:00 AM to 5:00 PM, closed on weekends and public holidays.
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Branches: While there are additional branches, on the primary branch issues US Dollars. location.
Withdrawal Process
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This service enables you to withdraw USD cash directly from your own foreign or domestic bank account linked to your debit or credit card.
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You will need to present your card to the teller, along with your passport. The process of actually withdrawing your cash in US dollars can take between 15 and 20 minutes as the staff often struggle connecting to international systems. There is then a myriad of paperwork which needs to be completed. You’ll be handed dozens of forms to sign.
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Withdrawals are subject to a fee, generally around 3%.
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Daily withdrawal limits may apply, for more accounts around $3000USD
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For transactions, you must present your passport. It must be the passport you entered Turkmenistan on and have the same name as the bank account.
This makes the Foreign Economic Bank the only institution in Turkmenistan for accessing USD through card withdrawals.
Other Ways to Access USD in Turkmenistan
Bringing USD Cash
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Carry sufficient USD cash with you, in clean and small denominations. This remains the most practical way to have usable USD without relying on the Foreign Economic Bank.
Exchanging Manat to USD
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Officially, exchanging Turkmenistan Manat back to USD is highly restricted and not feasible at banks or authorized exchange points.
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Technically it is possible to exchange Manat into USD at the Foreign Economic Bank, however, you will be highly penalised for this financially and it can be extremely difficult. Most of the time, bank staff will say no.
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Be cautious and inquire directly at Foreign Economic Bank branches for any official exchange services for converting manat to USD, as regulations may shift.
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It is possible to exchange Manat to US dollars on the black market. This is done in the same way as exchanging USD to Manat. It is also difficult and highly illegal, but this is the most common way individuals get their hands on US dollars.
ATM Access
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It is not possible to get USD from ATMs in Turkmenistan
Important Practical Tips
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Verify with your bank and card issuer that your card is authorized for international usage in Turkmenistan.
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Due to strict controls, daily cash withdrawal limits may restrict how much USD you can obtain this way.
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Don’t rely on getting US dollars in Turkmenistan. Always bring everything you need with you.
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The Foreign Economic Bank is the only official place to withdraw USD with a card inside Turkmenistan.
If you're interested in traveling to Turkmenistan, check out the Turkmenistan group tours available on our website here. If you are looking for more practical information on travel to Turkmenistan, read our comprehensive Turkmenistan destination guide here.
