Uzbek money. History, description and course

Uzbek money is called suma. This currency has been used in the territory of Uzbekistan since 1993.

Short story

Initially, soum-coupons were introduced in the country as an alternative means of payment. The key goal of the introduction of these coupons was to stabilize the financial situation in the country and to get rid of the oversaturation of the territory of sovereign Uzbekistan by Russian rubles.

Modern Uzbek sum was introduced in 1994. It is still in circulation on the territory of the republic. To date, all the banknotes introduced in the 90s are an official means of payment. The only exceptions are coupons of the 1992 sample, which are no longer used.

Description: coins and banknotes

On the international financial market, the Uzbek currency Sum is designated as UZS. It is not running in other countries. One Uzbek sum consists of one hundred tiyins. In circulation there are paper banknotes, the par value of which is one, three, five, ten, twenty five, fifty, one hundred, two hundred, five hundred and one thousand soums. In the course, metal coins of one, three, five, ten, twenty and fifty tiins are also used. It is worth noting that paper bills and metal coins of a small denomination are rarely used in reality.

The Uzbek small coin is called tiyin. This name comes from an old Turkic word, which translates as "squirrel". The fact is that in the Middle Ages in Central Asia squirrel was used as a small change in currency.

Coins rated from one to five tiyin are made of bronze and steel alloy, and coins of greater denomination are minted from the alloy of nickel and steel. In addition, coins of one, five and ten soums are used in Uzbekistan. There are also copies of 50 and 100 soums. Sometimes the Central Bank issues memorable Uzbek money.

On the front side, on paper denominations of the 1992 pattern, there was a picture of the state arms of the country. On the reverse side, there is a religious religious and cultural structure of Uzbekistan - Sherdor Madrassah, located on Registan Square in Samarkand. In 1994 these Uzbek money were withdrawn from circulation.

Since 1994, new types of banknotes have been printed, the face of which depicts the denomination, the state emblem of the republic, on which the legendary bird Humo, and above it the rising sun. Also on the front side there is a name of the bank that issued the banknotes, denomination and the year of printing. On the reverse side, various monuments of architecture of Uzbekistan are depicted. On each denomination you can see a certain architectural heritage of the country. There is the mausoleum of Chashma-Ayub, the mausoleum of the Timurids, the Palace of Independence and much more.

Uzbek money. Exchange transactions: rate

In Uzbekistan, it is easy to exchange Russian rubles for local currency, and often the exchange rate is much more profitable than in Russia. Therefore, Russian tourists should not worry about it. By the way, on the territory of the country the Russian currency is much more popular than the US dollar or the euro. Exchange transactions with the dollar and the euro can also be carried out without much difficulty. Distributed by the Chinese yuan currency, which can also be exchanged in many banks and exchange offices.

Uzbek money is very cheap and unstable. This is due to serious economic problems within the country, massive poverty and a weak geopolitical situation on the world stage. The sum for 2017 is approximately 0.015 Russian rubles, that is, one ruble in Uzbek soums will cost about sixty-six. For $ 1 you will be given about 3 800 UZS.

Conclusion

Due to the too low value of the national currency, foreign currencies are very much appreciated in Uzbekistan, the greatest demand is for Russian rubles, Chinese yuan, US dollars and euro. Many Uzbeks working in Russia, Kazakhstan or China purposefully send remittances to their homeland in rubles or yuan to keep the money safe. In addition, it is possible to earn some money on the exchange rate.

Uzbekistan is an interesting, beautiful country, but due to poverty and poorly developed infrastructure, few foreign tourists come here. Many residents of the country go to work abroad. The national currency does not inspire confidence among citizens of Uzbekistan.