Alas great Turkmenbashi
Sep 27, 2007
Land can be leased by foreigners
Turkmenistan allows land leases to foreigners, for any period. But the risks are high. Not least is the foreign exchange risk presented by Turkmenistan's currency, the Manat. The official exchange rate of the Mount (US$ 1=UM 4,854) is around four times the black market rate (US$ 1 = UM 19,000 - UM 23,000).