Uzbekistani soʻm

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For earlier currencies used in Uzbekistan, see Bukharan tenga, Kokand tenga and Khwarazmi tenga.
Uzbekistani soʻm
Oʻzbekiston soʻmi / Ўзбекистон сўми (Uzbek)
25Som.jpg
25 soʻm.
ISO 4217
Code UZS
Denominations
Subunit
 1/100 Tiyin
Plural soʻm
Tiyin Tiyin
Banknotes 1, 3, 5, 10, 25, 50, 100, 200, 500, 1000, 5000, 10,000 soʻm
Coins 1, 5, 10, 25, 50, 100, 500 soʻm
Demographics
User(s) Uzbekistan Uzbekistan
Issuance
Central bank Central Bank of the Republic of Uzbekistan
 Website www.cbu.uz
Valuation
Inflation 8.5%
 Source [1], 2015 est.

The soʻm (Uzbek: soʻm in Latin script, сўм in Cyrillic script) is the currency of Uzbekistan in Central Asia. The ISO 4217 currency code is UZS.

Etymology[edit]

In the Soviet Union, speakers of Kazakh, Kyrgyz and Uzbek called the ruble the som, and this name appeared written on the back of banknotes, among the texts for the value of the bill in all 15 official languages of the Union. The word som (sometimes transliterated "sum" or "soum") means "pure" in Kyrgyz, Uyghur and Uzbek, as well as in many other Turkic languages. The word implies "pure gold".

History[edit]

First soʻm[edit]

Like other republics of the former Soviet Union, Uzbekistan continued using the Soviet/Russian ruble after independence. On July 26, 1993, a new series of Russian ruble was issued and the old Soviet/Russian ruble ceased to be legal tender in Russia.[1][2] Some successor states had their national currencies before the change, some chose to continue using the pre-1993 Soviet/Russian ruble, and some chose to use both the pre-1993 and the new Russian ruble. Tables of modern monetary history: Asia[3] implies that both old and new rubles were used in Uzbekistan.

Uzbekistan replaced the ruble with soʻm at par in on November 15, 1993.[3] No subdivisions of this som were issued and only banknotes were produced, in denominations of 1, 3, 5, 10, 25, 50, 100, 200, 500, 1000, 5000, and 10,000 soʻm. Because it was meant to be a transitional currency, the design was rather simplistic. All notes had the Coat of arms on obverse, and Sher-Dor Madrasah of the Registan in Samarkand on reverse.[4]

Second soʻm[edit]

A 500 Soʻm note issued in 1999.

On July 1, 1994,[3] a second som was introduced at a rate of 1 new soʻm = 1000 old soʻm. This soʻm is subdivided into 100 tiyin. At its introduction, 1 U.S. dollar was equal to 25 soʻm.

Inflation[edit]

As of July 2016, the largest denomination of Uzbek currency, the 5000 soʻm banknote, is worth approximately U.S. $1.70, requiring Uzbeks to carry enormous amounts of notes just to carry out grocery shopping and bill payment. Consequently, the smallest denomination, the 1 tiyin, is only worth 1/2900 cent U.S. making it the "world's most worthless coin". However, coins and banknotes smaller than 25 soʻm are rare now.[5]

The rampant inflation situation is considered a politically sensitive issue in Uzbekistan, which is why the Uzbek government is slow to acclimate the currency to the current value by issuing higher coin and note denominations. As a result, the current highest coin denomination in circulation is the 500 soʻm while the highest banknote denomination is the 10,000 soʻm. Official state figures put inflation as of the first half of 2011 at 3.6%, however accurate numbers are pinned far higher. Coins and banknotes below 25 soʻm are practically worthless now.

Coins[edit]

2 series of coins have been issued for the second soʻm. They can be easily distinguished by the script used for the Uzbek language. The first series was written in Cyrillic script, while the second series is written in Latin script.

First Series
Image Value Composition Description Date of minting
Obverse Reverse Obverse Reverse
[2] [3] 1 tiyin Brass clad steel Coat of arms with 12 stars
State title
Value, year of minting 1994
[4] [5] 3 tiyin
[6] [7] 5 tiyin
[8] [9] 10 tiyin Nickel clad steel Coat of arms with 12 stars
State title
Value, year of minting 1994
[10] [11] 20 tiyin
[12] [13] 50 tiyin
[14] [15] 1 soʻm 1997, 1998, 1999
[16] [17] 5 soʻm 1997, 1998, 1999
[18] [19] 10 soʻm 1997, 1998, 1999, 2000
For table standards, see the coin specification table.
Second Series
Image Value Technical parameters Description Date of minting
Diameter Mass Composition Edge Obverse Reverse
1 Som UZ 2000.png 1 soʻm 18.4 mm 2.83 g Stainless steel Reeded Coat of arms without stars
Bank title, year of minting
Value, map of Uzbekistan 2000
5 soʻm 21.2 mm 3.35 g Brass clad steel Plain Coat of arms without stars
Bank title, year of minting
Value, map of Uzbekistan 2001
Uzbekistani 10-Som coin from 2002 (both sides).jpg 10 soʻm 19.75 mm 2.71 g Nickel clad steel Plain Coat of arms without stars
Bank title, year of minting
Value, map of Uzbekistan 2001
UZB-25s.jpg 25 soʻm 27 mm Coat of arms without stars
State title, year of minting
Value, Jalal ad-Din Mingburnu 1999
50Som2001.jpg 50 soʻm 26.1 mm 8 g Plain and reeded sections Coat of arms without stars
Bank title, year of minting
Value, map of Uzbekistan 20011
50 soʻm 26.1 mm 7.9 g Value, statue and ruin of Shahrisabz 20022
100som.jpg 100 soʻm 26.9 mm 7.9 g Inscription Coat of arms without stars
Bank title, year of minting
Value, map of Uzbekistan, sunrays 20043
These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.

Banknotes[edit]

The first banknotes were issued by the State Bank of Uzbekistan in 1993. All of the denominations share the same designs: the Coat of arms of Uzbekistan on the front and the Medressa on Reghistan Square in Samarkand. The second and current series, issued by the Central Bank of the Republic of Uzberkistan, were released in 1994 in denominations of 1, 3, 5, 10, 25, 50 and 100 soʻm. A 200 soʻm banknote was issued in 1997, the 500 soʻm in 1999, the 1,000 soʻm in 2001, the 5,000 soʻm in 2013 and 10,000 soʻm was issued on March 10, 2017.

1994-2017 Series[6]
Image Value Main Colour Description Date of printing
Obverse Reverse Obverse Reverse
UZS1 1994 front.jpg UZS1 1994 back.jpg 1 soʻm Green and pink Coat of arms Alisher Navoi Opera and Ballet Theater in Tashkent 1994
UZS3 1994 front.jpg UZS3 1994 back.jpg 3 soʻm Red Mosque of Çaçma Ayub Mazar in Bukhara
UZS5 1994 front.jpg UZS5 1994 back.jpg 5 soʻm Blue and orange Coat of arms and Islamic pattern Ali Shir Nawai Monument in Tashkent
UZS10 1994 front.jpg UZS10 1994 back.jpg 10 soʻm Purple Gur-e Amir in Samarkand
UZS25 1994 front.jpg UZS25 1994 back.jpg 25 soʻm Blue and pink The Mausoleum of Kazi Zade Rumi in the Shah-i-Zinda complex in Samarkand
UZS50 1994 front.jpg UZS50 1994 back.jpg 50 soʻm Brown The three Madrasahs of the Registan in Samarkand
UZS100 1994 front.jpg UZS100 1994 back.jpg 100 soʻm Purple Bunyodkor Palace in Tashkent
UZS200 1997 front.jpg UzbekistanP80-200sum-1997-donatedoy b.jpg 200 soʻm Green Coat of arms Detail of a tiger mosaiс on the Sher-Dor Madrasah at the Registan in Samarkand 1997
UZS500 1999 front.jpg UzbekistanP81-500sum-1999-donatedoy b.jpg 500 soʻm Red and some green Statue of Timur in Tashkent 1999
UZS1000 2001 front.jpg UZS1000 2001 back.jpg 1,000 soʻm Grey Amir Timur Museum in Tashkent 2001
UZS5000 2013 front.jpg UZS5000 2013 rear.jpg 5,000 soʻm Green National Assembly (Oliy Majlis) in Tashkent 2013
GerbFace.jpg GerbBack.jpg 10,000 soʻm Blue Senate (Senat) in Tashkent 2017
For table standards, see the banknote specification table.
Current UZS exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD RUB CNY
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD RUB CNY
From XE: AUD CAD CHF EUR GBP HKD JPY USD RUB CNY
From OANDA: AUD CAD CHF EUR GBP HKD JPY USD RUB CNY
From fxtop.com: AUD CAD CHF EUR GBP HKD JPY USD RUB CNY

See also[edit]

Notes[edit]

  1. ^ The Global History of Currencies - Russia
  2. ^ U.S. Department of State (February 1994). "Uzbekistan Economic Policy and Trade Practices". Archived from the original on 2010-07-10. Retrieved 19 September 2015. 
  3. ^ a b c Schuler, Kurt. "Tables of Modern Monetary History: Asia". 
  4. ^ Linzmayer, Owen (2012). "Uzbekistan". The Banknote Book. San Francisco, CA: www.BanknoteNews.com. 
  5. ^ http://www.bbc.com/news/magazine-21572359
  6. ^ banknotes

References[edit]

External links[edit]

Old soʻm
Preceded by:
Soviet/Russian ruble
Reason: independence
Ratio: at par
Currency of Uzbekistan
November 15, 1993 – July 1, 1994
Succeeded by:
New som
Reason: inflation and depreciation of the "transitional" currency
Ratio: 1 new soʻm = 1000 old soʻm
New soʻm
Preceded by:
Old soʻm
Reason: inflation and depreciation of the "transitional" currency
Ratio: 1 new soʻm = 1000 old soʻm
Currency of Uzbekistan
July 1, 1994 –
Succeeded by:
Current