Currency in Uzbekistan: exchange, import, money. What is the currency in Uzbekistan?
Currency in Uzbekistan
The monetary unit of Uzbekistan is called the sum and is equal to 100 tiyin. Despite the fact that the Republic issued banknotes in denominations from 1 to 25 and from 50 to 1000 soums, today banknotes less than 100-1000 soums are not used. The reason for this is the official exchange rate - 1000 soums set the equivalent of about 15 Russian rubles. Thus, the money of Uzbekistan does not apply for the status «heavy», but widely used within the Republic.
Confrontation history: sums against rubles
The history of the Uzbek soums is titled with the great opposition of this currency to the Russian ruble, and, in fact, it was for this purpose that it was introduced bypassing in the Republic of Uzbekistan in 1993. The fact is that the country's markets were overflowing with Russian currency and this surplus gave rise to a certain crisis, both in economic and some political terms. After the introduction of the national monetary unit, foreign tourists had to take into account what currency to take to Uzbekistan, however, at the same time, the economically unstable position of the Republic recovered at the proper level..
After this historical moment, the bags did not undergo major changes and their design remained the same: dominant floral motifs that accurately reflect the mentality and cultural heritage of the country. Thus, the watermarks took the form of a repeating floral pattern on small banknotes, and larger banknotes from 100 to 1000 soums were decorated with a large detailed cotton flower..
The monetary obverse proudly bears the image of the emblem of Uzbekistan along with a nominal indication of the value of the banknote, and the reverse depicts the Sherdor madrasah from Registan Square.
Currency exchange in Uzbekistan
Visiting tourists are familiar with the rules of currency exchange in Uzbekistan and know that such operations are carried out in special bank branches, in particular, the National Bank. In addition, an important fact remains that many establishments do not mind accepting foreign currency, such as dollars or euros, and often even prefer it. This is especially true of numerous hotels and transport networks throughout the country..
The law prohibits the exchange of money through individuals and, accordingly, such transactions are punishable under the legislation of the Republic of Uzbekistan. However, many people often disregard the law and turn to black markets, which set a more favorable exchange rate for the same dollars or euros..