Uzbekistani sum

Uzbekistani sum

Oʻzbek soʻmi Ўзбек сўми اۉزبېک سۉمى  (Uzbek)
200,000 sum banknote (2022)
ISO 4217
Code	UZS (numeric:860)
Subunit	0.01
Plural	The language(s) of this currency do(es) not have a morphological plural distinction.
Denominations
Subunit
1⁄100	Tiyin
Banknotes
Freq. used	2,000, 5,000, 10,000, 20,000, 50,000, 100,000, 200,000 sum
Rarely used	1,000 sum
Coins
Freq. used	50, 100, 200, 500, 1,000 sum
Rarely used	50 sum
Demographics
Date of introduction	11 July 1994 [1]
Replaced	Soviet ruble [1]
User(s)	Uzbekistan
Issuance
Central bank	Central Bank of the Republic of Uzbekistan (Oʻzbekiston Respublikasi Markaziy Banki)
Website	www.cbu.uz
Valuation
Inflation	8.8%
Source	, November 2023

The sum ^[a] (ISO code: UZS) is the official currency of Uzbekistan. Uzbekistan replaced the ruble with the sum at par on 16 July 1994. No subdivisions of this sum were initially issued and only banknotes were produced, in denominations of 1, 3, 5, 10, 25, 50, 100, 200, 500, 1,000, 5,000, and 10,000 sum. Further series, however, have introduced coins and a subunit, the tiyin. Because it was meant to be a transitional currency, the original design used during the first years of the republic was rather simplistic.

Etymology

The official name of the Soviet currency in the Kazakh, Kyrgyz, Tajik, and Uzbek languages was the som , and this name appeared written on the back of banknotes, among the texts for the value of the note in all 15 official languages of the USSR. This word translates as 'pure' in several Turkic languages, and is derived from the Proto-Turkic *som, meaning 'pure' or 'solid'. The word implies pure silver or gold.

First sum

History

Like other republics of the former Soviet Union, Uzbekistan continued using the Soviet/Russian ruble after independence. On 26 July 1993, a new series of Russian ruble was issued and the old Soviet/Russian ruble ceased to be legal tender in Russia. ^{[2] [3]} 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 ^[4] implies that both old and new rubles were used in Uzbekistan.

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

Coins

No coins were issued for the first sum.

Banknotes

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 madrasahs on Registan Square in Samarkand.

Image		Value	Dimensions (mm)
Obverse	Reverse
		1 sum	120×61
		3 sum
		5 sum
		10 sum
		25 sum
		50 sum	144×69
		100 sum
		200 sum
		500 sum
		1,000 sum
		5,000 sum
		10,000 sum

Second sum

History

500 sum note issued in 1999.

On 1 July 1994, ^[4] a second sum was introduced at a rate of 1 new sum = 1,000 old sum. This sum is subdivided into 100 tiyin.

Inflation

Until 2013, the largest denomination of Uzbek currency was the 1,000-sum banknote, then worth US$0.60, requiring Uzbeks to carry large bundles of notes for routine transactions.

Back in 2019, a new largest denomination was issued, the 100,000-sum banknote (as of October 2019 worth US$10.55), which made the situation easier. The smallest denomination, the 1 tiyin, is worth less than 1⁄9400 of a US cent making it the "world's most worthless coin" that was still legal tender until 1 March 2020. However, coins and banknotes smaller than 50 sum 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 its current value by issuing higher coin and note denominations. As a result, the current highest coin denomination in circulation is the 500 sum while the highest banknote denomination is the 200,000 sum. 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 50 sum are practically worthless now.

Coins

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

First series (1994–2000)

First series coins (1994–2000)

Image	Value	Technical parameters			Description			Date of
		Diameter	Mass	Composition	Edge	Obverse	Reverse	minting	issue	withdrawal	lapse
	1 tiyin	16,9 mm	1,75 g	Brass-clad steel	Smooth	Coat of arms with 12 stars State title	Value, year of minting	1994	July 1994	1 March 2020 [6]	1 January 2021 [6]
	3 tiyin	19,9 mm	2,7 g		Reeded
	5 tiyin	17 mm	1,8 g
	10 tiyin	18,7 mm	2,85 g	Nickel-clad steel
	20 tiyin	22 mm	4 g		Inscription: “ЙИГИРМА ТИЙИН ЙИГИРМА ТИЙИН”
	50 tiyin	23,9 mm	4,8 g		Inscription: “ЭЛЛИК ТИЙИН * ЭЛЛИК ТИЙИН * ЭЛЛИК ТИЙИН”
	1 sum	19,8 mm	2,72 g		Smooth			1997, 1998, 1999	1997
	5 sum	22,2 mm	4 g
	10 sum	24 mm	4,7 g					1997, 1998, 1999, 2000
These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.

Second series (2000–2004)

Second Series
Image		Value	Technical parameters			Description			Date of minting	Withdrawal
			Diameter	Mass	Composition	Edge	Obverse	Reverse
		1 sum	18.4 mm	2.83 g	Stainless steel	Reeded	Coat of arms without stars Bank title, year of minting	Value, map of Uzbekistan	2000	1 March 2020 [6]
		5 sum	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	1 March 2020 [6]
		10 sum	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	1 March 2020 [6]
		50 sum	26.1 mm	8 g		Plain and reeded sections	Coat of arms without stars Bank title, year of minting	Value, map of Uzbekistan	2001	1 July 2019 [7]
		50 sum	26.1 mm	7.9 g				Value, statue and ruin of Shahrisabz	2002	1 July 2019 [7]
		100 sum	26.9 mm	7.9 g	Nickel-plated steel	Inscription	Coat of arms without stars Bank title, year of minting	Value, map of Uzbekistan, sunrays	2004	1 July 2019 [7]
These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.

Third series (2018–2022)

In May 2018 the introduction of new coins valued 50, 100, 200 and 500 sum was announced. All previously issued banknotes and coins of those denominations were to be withdrawn from circulation by 1 July 2020. In December 2022, the Central Bank of the Republic of Uzbekistan introduced a 1,000 sum coin into circulation, notable as it is the first bi-metallic coin issued for circulation since the introduction of the Uzbek sum in 1994.

Third series (2018) [8]
Image	Value	Technical parameters			Description			Date of
		Diameter	Mass	Composition	Edge	Obverse	Reverse	minting	issue	withdrawal	lapse
	50 sum	18.0 mm	2.0g	Nickel-plated steel	Plain	Denomination	National emblem of Uzbekistan, year of minting	2018	2 July 2018 [6]	Current
	100 sum	20.0 mm	2.5 g			Independence and Goodness monument, Tashkent
	200 sum	22.0 mm	3.3 g			Detail of a tiger mosaiс on the Sher-Dor Madrasah at the Registan in Samarkand
	500 sum	24.0 mm	3.9 g			Palace of Conventions (Anjumanlar Saroyi) in Tashkent
These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.

Third series (2022) [8]
Image	Value	Technical parameters			Description			Date of
		Diameter	Mass	Composition	Edge	Obverse	Reverse	minting	issue	withdrawal	lapse
	1,000 sum	26.27 mm	7.3 g	Brass-plated copper center in a nickel ring	Plain	Center of Islamic Civilization (Islom Sivilzatsiyasi Markazi) in Tashkent	National emblem of Uzbekistan, year of minting	2022	26 December 2022	Current
These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.

Banknotes

The second and current series, issued by the Central Bank of the Republic of Uzbekistan, was released in 1994 in denominations of 1, 3, 5, 10, 25, 50, and 100 sum. A 200 sum banknote was issued in 1997, the 500 sum in 1999, the 1,000 sum in 2001, the 5,000 sum in 2013, the 10,000 sum on 10 March 2017, the 50,000 sum on 22 August 2017 and the 100,000 sum on 25 February 2019. The latter four denominations feature inscriptions in Latin-based Uzbek as opposed to Uzbek Cyrillic in banknotes of 1 to 1,000 Uzbek sum. On 14 June 2021, the Central Bank of the Republic of Uzbekistan issued the 2,000 and 20,000 sum banknotes to help bridge the gap between 1,000 and 5,000 sum as well as 10,000 and 50,000 sum. On 18 June 2021, the Central Bank of the Republic of Uzbekistan issued new 5,000 and 10,000 sum banknotes, utilizing the design templates of the 2,000 and 20,000 sum banknotes. In that same year, the Central Bank of the Republic of Uzbekistan issued new 50,000 and 100,000 sum banknotes as part of a new series of banknotes first introduced with the 2,000 and 20,000 sum banknotes. An entirely new 200,000 sum banknote was issued on 15 July 2022.

1994-2019 Series [9]
Image		Value	Main Colour	Description		Date of printing	Date of first issue	withdrawal
Obverse	Reverse			Obverse	Reverse
		1 sum	Green and pink	National emblem of Uzbekistan	Alisher Navoi Opera and Ballet Theater in Tashkent	1994	1 July 1994	1 March 2020 [6]
		3 sum	Red		Chashma-Ayub Mausoleum in Bukhara
		5 sum	Blue and orange	National emblem of Uzbekistan and Islamic pattern	Alisher Navoi Monument in Tashkent
		10 sum	Purple		Gur-e Amir in Samarkand
		25 sum	Blue and pink		Shah-i-Zinda Complex in Samarkand
		50 sum	Brown		The three Madrasahs of the Registan in Samarkand			1 July 2019 [10]
		100 sum	Purple		Palace of Friendship of Peoples in Tashkent
		200 sum	Green	National emblem of Uzbekistan	Detail of a tiger mosaiс (Shir o Khorshid) on the Sherdor Madrasah at the Registan in Samarkand	1997	1 March 1997 [11]	1 July 2020 [6]
		500 sum	Red and some green		Statue of Amir Temur (Tamerlane) in Tashkent	1999	1 June 2000 [11]
		1,000 sum	Grey		Amir Timur Museum in Tashkent	2001	1 September 2001 [11]	Current
		5,000 sum	Green		National Assembly (Oliy Majlis) in Tashkent	2013	1 July 2013
		10,000 sum	Blue		Senate (Senat) in Tashkent	2017	10 March 2017
		50,000 sum	Violet	National emblem of Uzbekistan; top of the “Ezgulik” ark in Independence Square in Tashkent	Palace of Conventions (Anjumanlar Saroyi) in Tashkent		22 August 2017
		100,000 sum	Orange and light brown	National emblem of Uzbekistan; Mirzo Ulugbek; solar system	Mirzo Ulugbek Observatory in Samarkand; map of Uzbekistan	2019	25 February 2019
These images are to scale at 0.7 pixel per millimetre (18 pixel per inch). For table standards, see the banknote specification table.

2021–2022 series

Image		Value	Dimensions	Main colour		Description			Date of		Ref.
Obverse	Reverse					Obverse	Reverse	Watermark	printing	issue
		2,000 sum	142 × 69 mm		Red	Bukhara Arch, caravan routes on map of Uzbekistan, Honatlas textile patterns, National emblem of Uzbekistan	Varahsha ruins of the ancient caravan route Poykend, clay pot and artifact, camel	Camel and "2000"	2021	14 June 2021	[12]
		5,000 sum			Green	Sherdor madrasasi in Samarkand, National emblem of Uzbekistan	Archaeological Monuments of Afrosiyob belonging to the 8th-5th centuries BC, Archeological find of a 10th-century pottery jug and an embossed ceramic bowl found in the ruins of Afrosiyob	Camel and "5000"		20 August 2021	[13]
		10,000 sum	147 × 69 mm		Blue	Great Silk Road, Architectural monument Kokaldosh madrasasi in Tashkent, National emblem of Uzbekistan	Oldest monument in the territory of Tashkent, which dates back to the 1st century BC - Shoshtepa archaeological monument, Ancient ceramics of Tashkent, pottery of 10th-12th century, and household utensils of the 10th century	Camel and "10000"			[14]
		20,000 sum			Indigo	Koi Krylgan Kala archeology site, caravan routes on map of Uzbekistan, textile patterns, National emblem of Uzbekistan	6th-century pottery from Aral and Caspian Seas, embroidery design	Camel and "20000"		14 June 2021	[15]
		50,000 sum			Purple	Al-Hakim At-Termiziy Maqbarasi in Surxondaryo, caravan routes on map of Uzbekistan, National emblem of Uzbekistan	Fayoztepa Arxeologiya Yodgorligi ancient archaeological monument in Surxondaryo, flying dove, 17th-century pottery from Sopollitepa	Camel and "50000"		22 December 2021	[16]
		100,000 sum	152 × 69 mm		Orange	Ichan Qal’a museum in Khiva, Khorezm, caravan routes on map of Uzbekistan, National emblem of Uzbekistan	Angkaqal’a Archeologiya Yodgorligi fortress in Khorezm, 1st-century BC silver coin, 10th-century pottery from Khorezm	Camel and "100000"			[17]
		200,000 sum			Cyan	Xudoyorxon O’rdasi (Khan’s Palace) in Kokand, Fergana, caravan routes on map of Uzbekistan, National emblem of Uzbekistan	Axsikent Arxeologiya Yodgorligi (ancient archaeological monument) in ancient Fergana, pomegranate, double-headed snake and ceramic bowl	Camel and "200000"	2022	15 July 2022	[18]
These images are to scale at 0.7 pixel per millimetre (18 pixel per inch). For table standards, see the banknote specification table.

Exchange rates

At its introduction on 1 July 1994, 1 US dollar was equal to 25 sum.

2017 reform

On 2 September 2017, President of Uzbekistan Shavkat Mirziyoyev issued a decree "On priority measures of liberalizing foreign exchange policy". ^[19] The reform took effect on 5 September 2017. The currency was untethered from its US dollar peg and started to float. As a result the sum's exchange rate to the US dollar increased from 4,210 Uzbek sum to 8,100 Uzbek sum. The new rate was even weaker than the sum's black-market convertibility of about 7,700 to the dollar. Restrictions on the amount of foreign currencies individuals and companies could buy were also abolished on the same day. ^[20]

Current UZS exchange rates
From Google Finance:	AUD CAD CHF CNY EUR GBP HKD JPY USD
From Yahoo! Finance:	AUD CAD CHF CNY EUR GBP HKD JPY USD
From XE.com:	AUD CAD CHF CNY EUR GBP HKD JPY USD
From OANDA:	AUD CAD CHF CNY EUR GBP HKD JPY USD

See also

• Economy of Uzbekistan
• Kyrgyz som

Earlier currencies

• Bukharan tenga
• Kokand tenga
• Khwarazmi tenga

Notes

1. Uzbek: soʻm, сўм, سۉم, IPA: [sɵm]

References

1. "ISO4217 AMENDMENT NUMBER 76 - 1994-07-12" (PDF).
2. "The Global History of Currencies - Russia". Archived from the original on 4 January 2007. Retrieved 12 November 2017.
3. 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.
4. Schuler, Kurt. "Tables of Modern Monetary History: Asia".
5. Gray, Laura (26 February 2013). "The most worthless coin in the world". BBC News. Retrieved 12 November 2017.
6. "СТАРУЮ МЕЛОЧЬ МОЖНО ОБМЕНЯТЬ НА НОВУЮ ДО 1 МАРТА 2020 ГОДА".
7. "В обращение выходят новые монеты". 28 June 2018.
8. "Монеты". www.cbu.uz. Archived from the original on 2019-04-24. Retrieved 2019-01-08.
9. "banknotes" . Retrieved 12 November 2017.
10. "Центральный банк Республики Узбекистан — Сообщение Центрального банка Республики Узбекистан" (in Russian). cbu.uz. Archived from the original on 2022-05-17. Retrieved 2018-05-26.
11. "Узбекскому суму исполнилось 20 лет" (in Russian). gazeta.uz. 30 June 2014. Retrieved 2019-01-05.
12. "2 000 soum". Central Bank of the Republic of Uzbekistan. Tashkent. 16 February 2022. Archived from the original on 27 December 2022. Retrieved 27 December 2022.
13. "5 000 soum". Central Bank of the Republic of Uzbekistan. Tashkent. 29 October 2021. Archived from the original on 27 December 2022. Retrieved 27 December 2022.
14. "10 000 soum". Central Bank of the Republic of Uzbekistan. Tashkent. 29 October 2021. Archived from the original on 27 December 2022. Retrieved 27 December 2022.
15. "20 000 soum". Central Bank of the Republic of Uzbekistan. Tashkent. 16 February 2022. Archived from the original on 27 December 2022. Retrieved 27 December 2022.
16. "50 000 soum". Central Bank of the Republic of Uzbekistan. Tashkent. 17 February 2022. Archived from the original on 27 December 2022. Retrieved 27 December 2022.
17. "100 000 soum". Central Bank of the Republic of Uzbekistan. Tashkent. 17 February 2022. Archived from the original on 27 December 2022. Retrieved 27 December 2022.
18. "200 000 soum". Central Bank of the Republic of Uzbekistan. Tashkent. 15 September 2022. Archived from the original on 27 December 2022. Retrieved 27 December 2022.
19. The Government portal of the Republic of Uzbekistan (2017-09-05). "Starting from 5 September 2017, the exchange rate of the Central Bank is set at 8100 UZS for 1 USD" . Retrieved 8 September 2017.
20. Radio Free Europe/Radio Liberty (2017-09-05). "Uzbekistan Devalues Currency As It Emerges From Decades-Long Isolation". Radio Free Europe/Radio Liberty. Retrieved 8 September 2017.

Sources

• Krause, Chester L.; Clifford Mishler (2003). 2004 Standard Catalog of World Coins: 1901–Present. Colin R. Bruce II (senior editor) (31st ed.). Krause Publications. ISBN   0873495934.
• Cuhaj, George S., ed. (2005). Standard Catalog of World Paper Money: Modern Issues 1961-Date (11th ed.). Krause Publications. ISBN   0-89689-160-7.

External links

• Coins of Uzbekistan at CISCoins.net