2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Today, the question “what is the currency in Uzbekistan” among enterprising members
modern society is quite relevant. Since the country, after a certain and rather successful period of consolidation of its own nation and simply peaceful existence in the socialist camp for almost the entire twentieth century, has been swimming in democratic chaos for more than twenty years. Which, in turn, made it possible for a large number of foreign companies to help the Uzbek people to launch a full-scale process of mining and energy resources. However, there are still not enough high-paid jobs in Uzbekistan, which does not contribute to labor migration. The tourism business in the country has not been operating since the distant Soviet times. The local education system also does not attract students to move to Uzbekistan. The currency of the republic with the beautiful eastern name "sum" rarely sees the hands of foreigners who arrived in the country without the intention to increase their capital at the expense of the rich Uzbek land.
National currency of Uzbekistan
Like most independent countries of the modernworld, Uzbekistan issues
own currency sum. It is a medium of exchange for the exchange of values and is divided into 100 tiyins. Due to weak purchasing power, tiyins have not been used for a long time. In practice, banknotes in denominations from 100 to 5000 units are used in the country. Although sums are not expensive on the international market, they can be printed whenever the independent government of the Republic of Uzbekistan wishes. The currency, of course, will be subject to elementary economic laws, constantly depreciating, losing the level of confidence among its own population. But what will you do to get rid of someone's protectorate. Also, the monetary units of this freedom-loving nation have a special bank code UZS for conducting various kinds of financial transactions and the code of the international organization for standardization ISO 4217. The central bank of the Republic of Uzbekistan is the emission center for the production of sums and inactive tiyins. The currency, in turn, is issued with a theoretical denomination of 1, 3, 5, 10, 25, 50, 100, 200, 500, 1000 and 5000 soums. At the same time, 1 sum is equal to 71 rubles.
Good neighborly relations
The economic situation of the republic along with high unemployment and
The high potential of the country's labor resources allows international corporations to place their own production lines in it, thus reducing the cost of production. In addition, Uzbeks, in order to achieve a more acceptablefinancial situation also have to look for work in other more developed countries. Today Russia is one of the main exporters of labor resources from the Republic of Uzbekistan. In this regard, the currency of the Russian Federation also has a fairly high level of popularity in the country, thus occupying an honorable third place, after the sum and the US dollar.
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