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Local Currency
The Uzbek currency is Soum, written CYM. The higher denominations of soums are available in bank notes, lower, called tiyin, are in coins. One soum is 100 tiyins.
Notes come in denominations of 1, 3, 5, 10, 25, 50, 100, 200, 500 and 1000 soums of them, notes of 1, 3, 5 and 10 soums are essentially valueless (and only used when in coins.)
Banking and Currency Rerulations
Uzbekistan's banking sector is one of the biggest growth areas in the Uzbek economy. There is a number of Banks, including Government-owned, foreign and private ones, where you can cash your travelers cheques or credit cards.
NBU, National Bank of Uzbekistan has its branches in all provinces and major cities of Uzbekistan. Working hours are from 09:00 a.m. to 06:00 p.m. Visitors are usually received till 12.00p.m.
ABN Amro, a reputed Dutch Bank, has a branch in Uzbekistan and provides a full range of services according to Western standards.
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National Bank of Uzbekistan
for Foreign Economic Activities (NBU) |
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Address: |
101, Amir Temur Str., Tashkent 700000 |
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Telephone: |
+998 (71) 137-5967, +998 (712) 34-1111 |
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ABN AMRO Bank |
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Address: |
4th entrance, Capital Business Complex, Kh. Alimjan Sqr., Tashkent 700000 |
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Telephone: |
+998 (71) 120-6141, 132-0076 |
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Fax: |
+998 (71) 120-6367 |
Normally, a commission from 2 to 5 per cent is charged. A fast and safe but rather expensive way of transferring cash to Uzbekistan is Western Union, with its office available at Business Bank, Tashkent.
As of December 2001, Uzbekistan is a country of limited convertibility. Foreign currency may only be sold at authorized Exchange Offices (available in all hotels, banks and airports). Selling/purchasing foreign exchange elsewhere or using foreign currency as means of payment, is a criminal offense.
After you turned your currency into Uzbek soums, you may find it difficult to change it backward. Purchase of foreign currency at official exchange offices is a problem, though not prohibited.
There is so called unofficial black exchange rate in Uzbekistan, but money should never be changed on the street. What seems to be a better offer from the black market will lead to visitors being cheated or, even worse, problems with the law enforcement.
A passport has to be shown when changing money at official exchange offices. Foreign bank notes with visible defects or marks are not accepted at the exchange. |
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