The history of Uzbekistan is a centuries-old epic with its heroes, villains, wars and
love stories. Today
, the land of this once union state is inhabited by friendly people of Muslim faith. The modern territorial state of the state was formed thanks to the Soviet government, which at one time influenced the unification of various feudal lands of one people. Thus, on the socialist map of Central Asia in 1924, the Soviet Union had another satellite. In 1991, Uzbekistan became an independent state and retained its sovereignty to this day.
Uzbekistan currency
Like any other independent state, the Republic of Uzbekistan began to issue its own currency. The monetary unit of the republic is called "Sum". 1 sum is exchanged for 100 tiyins. Uzbekistan currency was put into circulation in 1993 with the goal of crowding out the ruble, which until then was the only means
exchange of values in the republic. The government of the country was aware of the importance for the state-forming process of having its own monetary system, but was in no hurry to take hasty steps towards its creation. In this regard, the currency of Uzbekistan
saw the light two years after the declaration of sovereignty and for another whole year ousted rubles from national circulation. On June 16, 1994, the soum became the only means of payment freely circulating in the republic. Uzbekistan currency, rate
which today is quite low and unstable, has its own code of the international standardization organization ISO 4217 and the bank code UZS. It is not very popular on the Forex market, and international trading operations with its help are very rare. Due to weak
purchasing power, the currency of Uzbekistan
actively
printed, subject to high inflation and is in national circulation with a face value of 10,000, 5,000, 1,000, 500, 200, 100, 50, 25, 10, 5, 3 and 1 sum. In practice, bills from 10,000 to 100 sum are used in the country, although the remaining units are also legal tender.
The path of an independent state
Weak
purchasing power, instability and complete lack of control over the process of accumulating funds of the population with the help of national deposits for the further development of the country - all this today is typical for such a currency as the currency of Uzbekistan. Course to
I chop
monetary units of the
sovereign state - 66.72 UZS per 1 RUB. Poverty in the country makes the indigenous population go to work in Russia and other developed countries of the modern world, undergo difficulties and hardships of illegal migration. Without prejudice to anything or anyone, in a completely civilized way, Uzbekistan gained independence from the Moscow protectorate, but the price that its people are paying today may seem too much to many. Although Russia still (after more than 20 years of harmonious coexistence) helps the Uzbek people feed their families, giving them the opportunity to earn the same rubles.