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What is UZS? Understanding the Uzbekistani Som

UZS is the currency code for the Uzbekistani Som, the official currency of Uzbekistan. It is issued by the Central Bank of the Republic of Uzbekistan. The Som plays a vital role in the country’s transition from a Soviet-style economy to a market-oriented system.

The Origin and History of UZS

The Uzbekistani Som was first introduced in 1993 as a transitional currency and was reissued in 1994 in its current form. The currency replaced the Russian ruble and underwent major redenomination in 2017 to simplify transactions and reflect economic reforms.

UZS Exchange Rate and Currency Performance

The value of the UZS is influenced by internal inflation, monetary policy, and trade relations. Investors and traders often track the UZS to USD exchange rate as a benchmark for economic stability.

Common Currency Conversions

• UZS to USD – Uzbekistani Som to US Dollar
• UZS to EUR – Uzbekistani Som to Euro
• UZS to RUB – Uzbekistani Som to Russian Ruble
• UZS to CNY – Uzbekistani Som to Chinese Yuan

Using UZS in Daily Life

UZS is the only legal tender in Uzbekistan and is widely accepted in all cities and rural areas. While credit card acceptance is growing in Tashkent and tourist zones, cash remains the preferred payment method.

Where to Get UZS

Foreign travelers can exchange money at banks, authorized exchange offices, and some ATMs. Black market currency exchange is illegal and risky.

Economic Factors Affecting UZS

Like many emerging market currencies, UZS is impacted by several internal and external forces.

1. Inflation and Interest Rates

Uzbekistan has faced inflationary pressure in recent years, prompting central bank interventions and reforms.

2. Government Reforms

Currency liberalization in 2017 was a turning point that allowed market-based exchange rates and attracted foreign investors.

3. Trade and Investment

Uzbekistan's growing trade with China, Russia, and the EU, combined with an influx of foreign investment, helps support UZS.

FAQ: Questions About UZS Currency

Is UZS stable?

UZS has shown signs of stabilization since reforms in 2017, but like many currencies in developing economies, it remains sensitive to inflation and external shocks.

Can I use USD or EUR in Uzbekistan?

Foreign currencies are not accepted for everyday use. It's required to use UZS for all retail and service transactions within the country.

Where can I check the live UZS exchange rate?

You can check live rates on financial platforms, official bank websites, or international currency converters such as XE or OANDA.