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Tajikistan Currency Spotlight

In Business and Currency by Continental StaffLeave a Comment

Named after the father of the nation, Ismail Samani, the Tajikistani somoni is a relatively new currency on the market.

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History and Culture | Travel Guide

  • Currency Code: TJS
  • Subunit: diram (1/100)
  • Coins: 1, 2, 5, 10, 20, 25, 50 diram, 1, 3, 5 somoni
  • Banknotes: 1, 2, 5, 20, 50 diram, 1, 3, 5, 10, 20, 50, 100, 200, 500 somoni
  • GDP (nominal): US$7.242 billion (136th)
  • Inflation: 6%
  • Central Bank: National Bank of Tajikistan

History

The Tajikistani somoni was introduced in October 2000, replacing the Tajikistani ruble which had been in use for the previous five years (prior to which the Soviet/Russian ruble was still used despite the USSR’s collapse). The somoni was introduced at a rate of 1 somoni to 1000 rubles. Banknotes came first while the country’s first coinage followed a year later, with some intended to replace existing banknotes.

Value

Over the last five years, the TJS has fallen against the USD. From a value of less than 5 TJS to 1 USD in 2013, it is now closer to 9:1.

USD US dollar TJS Tajikistani somoni

CAD Canadian dollar TJS Tajikistani somoni

Coins

The first series of coins was introduced in 2001, and included a wide range of denominations ranging from 5 diram to 5 somoni. While the new series (from 2011) features lower value coins, it did not include the 3 and 5 somoni coin. Below you can find the current series:

Value Composition Obverse Reverse
1 diram Brass clad steel Coat of arms, ‘Republic of Tajikistan’, year of minting Value
2 diram Copper clad brass Coat of arms, ‘Republic of Tajikistan’, year of minting Value
5 diram Copper clad brass Coat of arms, ‘Republic of Tajikistan’, year of minting Value
10 diram Copper clad brass Coat of arms, ‘Republic of Tajikistan’, year of minting Value
20 diram Copper clad brass Coat of arms, ‘Republic of Tajikistan’, year of minting Value
50 diram Copper clad brass Coat of arms, ‘Republic of Tajikistan’, year of minting Value
1 somoni Copper-nickel clad steel Coat of arms, ‘Republic of Tajikistan’, year of minting Value

Source: Wikipedia

Notes

The current series of banknotes was introduced in 2000, though some notes (3, 200, 500 somoni) were not around until 2010.

Value Colour Obverse Reverse
1 diram Brown Sadriddin Ayni Theatre and Opera House The Pamirs
5 diram Blue Arbob Cultural Palace Shrine of Mirzo Tursunzoda
20 diram Green Meetings Hall of the National Bank of Tajikistan Mountain road
50 diram Purple Ismail Samani Mountain valley
1 somoni Green Mirzo Tursunzoda National Bank of Tajikistan
3 somoni Violet Shirinsho Shotemur Majlisi Oli
5 somoni Blue Sadriddin Ayni Shrine of Abuabdullo Rudaki
10 somoni Red Mir Said Alii Hamadoni Tomb of Mir Said Alii Hamadoni
20 somoni Yellow-brown Abuali ibn Sino Hissar Castle
50 somoni Blue Bobojon Gafurov Chaikhana (teahouse) Sino
100 somoni Brown Ismail Samani Presidential Palace
200 somoni Brown and yellow Nusratullo Maksum National Library building in Dushanbe
500 somoni Purple and gray Abuabdullo Rudaki Palace of Nations in Dushanbe

Source: Wikipedia

Economy

The path of the Tajik economy hasn’t always been easy since the fall of the Soviet Union. Cotton and aluminum are hugely important factors in generating foreign revenue, leaving the economy open to market factors. The country is also very dependent on foreign remittances from expatriates. While Tajikistan was experiencing growth prior to the Global Financial Crisis, the effects of the economic disaster were keenly felt here. In addition, more than 50% of the population lives below the poverty line.

Finally, a large black market exists in Tajikistan. It is based around the drug trade with neighbouring Afghanistan. By some accounts, heroin trafficking here is equal to 30-50% of GDP.

tajikistani somoni tajikistan currency notes bills cash

The Bottom Line

Despite a decently stable currency, economic issues such as pervasive poverty remain.


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