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Uzbekistan To Introduce 10,000-Som Banknote

  • RFE/RL's Uzbek Service

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.

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