Accessibility links

Breaking News

Uzbekistan To Introduce 10,000-Som Banknote

Uzbekistan's Central Bank is expected to introduce a new 10,000-som banknote "in the nearest future" to make everyday cash payments easier.

A spokesperson for the bank told RFE/RL on February 21 that Uzbek lawmakers had approved the introduction of the new largest-denomination banknote the previous day.

It will be worth about $3, according to the official exchange rate, or $1.60 on the black market.

The parliamentary resolution, however, does not say exactly when the new bill will come into circulation.

Currently, the largest-denomination banknote in Uzbekistan is worth 5,000 soms and was introduced in July 2013.

Uzbek economist Tohir Sobirov told RFE/RL that it may be necessary to introduce 50,000- and 100,000-som banknotes to really address the cash-payments problem.

  • 16x9 Image

    RFE/RL's Uzbek Service

    RFE/RL's Uzbek Service relies on innovation and a wide network of local sources and platforms to uncover news and engage with audiences in one of the world’s most restrictive societies.

This item is part of
XS
SM
MD
LG