Banks in Turkmenistan have limited daily cash withdrawals from MasterCard and Visa cards to $50 and other payments to $200, a sign that the foreign currency shortage may be worsening in the gas-exporting Central Asian nation. The State Bank for Foreign Economic Affairs said in a statement this week the move was aimed at preventing the use of cards in a way that has not been intended.
Two other Turkmen banks that issue international cards told Reuters on Wednesday they had also introduced the same limits. Previously, cash withdrawals were capped at $100 and other payments at $500 per day. Turkmenistan's hard currency revenue has fallen sharply since Russia halted imports of its gas in 2016, leaving China as the main buyer. Beijing's payments are likely to be significantly offset by repayments of Turkmen debt to China.
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