Higher Denomination Banknotes to be introduced by Uzbekistan

18 Jan 2018  Thu

Uzbekistan officially announced that the country’s apex bank is planning to release new banknotes of higher denomination. The bank is working on optimizing the structure of banknotes to improve cash circulation.

They also stated that the banknotes of smaller denomination will be replaced with new-value coins of 50, 100, 500 soums. Coins of the value 200 soums will also be released.

The highest denomination - 50,000 soums banknote was introduced on 22nd August 2017. The Central Bank claims that high denomination notes are not issued due to inflation, but because of growth of the average wage in the country.

The exchange rate as of 17th January is 8146.38 UZS / USD

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