Regulatory Alerts1994-06-16 | ПФ-870Added · Updated
On the Introduction of the National Currency of the Republic of Uzbekistan
The Decree introduces the national currency, the 'Soom', into circulation in the Republic of Uzbekistan effective July 1, 1994, at an exchange rate of 1,000 coupon-sooms to 1 Soom. It mandates that all economic entities and banks recalculate balances, wages, pensions, and liabilities to the new currency by July 1, 1994, and prohibits the acceptance of coupon-sooms for goods and services after August 1, 1994. The Central Bank is tasked with issuing banknotes and coins, regulating the transition, and ensuring the withdrawal of coupon-sooms, while a state commission oversees the implementation and resolution of related operational issues.
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