Author Topic: Uzbekistan to Introduce New Series of Coins  (Read 138 times)

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Offline Bimat

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Uzbekistan to Introduce New Series of Coins
« on: May 24, 2018, 09:36:51 AM »
Central Bank of Uzbekistan is planning to introduce coins of new design. Denominations planned are 50, 100, 200 and 500 Soms.

More information available here (Available only to subscribers).

I could not find more information on central bank's website.

Aditya
Caution. The low-hanging fruits are still there maybe for a reason.

Online Figleaf

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Re: Uzbekistan to Introduce New Series of Coins
« Reply #1 on: May 24, 2018, 02:03:04 PM »
Today, no coins circulate in Uzbekistan. The dominating denomination is 1000 som. You will find some 2000 and 500 som notes in circulation. On street markets you may get 100 and 200 som notes once in a while, but unless you get five of them, it is hard to spend them elsewhere.

Yet, the information sounds credible, since the new president is slowly reforming the economy. There may be plans for a 100 to 1 re-denomination of the som, since inflation has come down and the som is now devalued and sort of convertible, which has defeated the currency black market.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline Bimat

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Uzbekistan to Introduce New Series of Coins
« Reply #2 on: May 24, 2018, 03:37:25 PM »
I also read that Central Bank of Uzbekistan is planning to introduce Islamic banking system...

Aditya
Caution. The low-hanging fruits are still there maybe for a reason.

Online Figleaf

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Re: Uzbekistan to Introduce New Series of Coins
« Reply #3 on: May 24, 2018, 05:02:38 PM »
I give that one zero credibility. Wishful thinking at best. Not only are the Uzbeks in general very relaxed about religion (exception on both sides exist), the new president is one of those religiously relaxed people. Significantly, he has been railing against Islamic radicalism in his election campaign.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.