Understanding the Uzbek Sum (UZS)

The Uzbek sum (UZS) is the official currency of Uzbekistan, a Central Asian country known for its rich history and cultural heritage. As a traveler or business person dealing with Uzbekistan, it’s essential to understand the basics of the Uzbek sum, including its history, denominations, and exchange rates.

In this comprehensive guide, we’ll dive into the details of the Uzbek sum, providing you with the information you need to navigate the currency landscape in Uzbekistan confidently. From the introduction of the sum to its current exchange rates and practical tips for exchanging money, we’ve got you covered.

History and Introduction of the Uzbek Sum

The Uzbek sum was introduced as the national currency of Uzbekistan in 1994, replacing the Soviet ruble following the country’s independence. The name “sum” is derived from the word “soum,” which means “pure” in Uzbek. In addition to the sum, there is a smaller currency unit called the tiyin, with 100 tiyin equal to 1 sum.

Since its introduction, the Uzbek sum has undergone several changes, including the removal of three zeros from the currency in 2017 to simplify transactions and accounting. This redenomination process aimed to strengthen the sum and align it with international currency standards.

Banknotes and Denominations of the Uzbek Sum

The Uzbek sum is available in various banknote denominations to facilitate daily transactions. The currently circulating banknotes include:

• 100 sum
• 200 sum
• 500 sum
• 1,000 sum
• 5,000 sum

Each banknote features a unique design, showcasing important cultural and historical monuments of Uzbekistan. The banknotes also incorporate security features to prevent counterfeiting, such as watermarks, security threads, and raised printing.

Exchange Rate of the Uzbek Sum (UZS) to US Dollar (USD)

When traveling to Uzbekistan or conducting business transactions involving the Uzbek sum, it’s crucial to understand the exchange rate between the sum and major international currencies like the US dollar (USD). The exchange rate determines how much of one currency you can purchase with another and can fluctuate based on various economic and political factors.

Current USD to UZS Exchange Rate

As of June 19, 2024, the exchange rate between the US dollar and the Uzbek sum is as follows:

It’s important to note that this is the mid-market rate, which is used for informational purposes only. The actual exchange rate you receive may vary depending on the provider and any applicable fees.

Historical USD to UZS Exchange Rates

Looking at historical exchange rates can provide valuable insights into the performance of the Uzbek sum against the US dollar over time. Here are some key historical exchange rate figures:

• 30-day high: 1 USD = 12,715 UZS
• 30-day low: 1 USD = 12,595 UZS
• 90-day high: 1 USD = 12,753 UZS
• 90-day low: 1 USD = 12,536 UZS

These figures indicate the highest and lowest exchange rates observed within the specified time periods, giving you an idea of the recent volatility of the Uzbek sum against the US dollar.

UZS to USD Conversion Examples

To help you understand the practical implications of the exchange rate, here are some common conversion examples:

These examples demonstrate how many US dollars you would receive for a given amount of Uzbek sums based on the current exchange rate.

Exchanging Currency in Uzbekistan

If you’re planning a trip to Uzbekistan or need to exchange currency for business purposes, it’s essential to know where and how to exchange money safely and legally. In this section, we’ll cover the official currency exchange offices in Uzbekistan, the currencies accepted for exchange, and the risks associated with illegal currency exchange.

Official Currency Exchange Offices in Uzbekistan

In Uzbekistan, you can exchange foreign currency at authorized exchange offices located in various places, including:

• Airports
• Hotels
• Markets
• Banks
• District visa and registration offices

Exchange offices in hotels typically operate 24/7, offering convenience for travelers. Other exchange offices usually open at 9 a.m. and close around 3:30 p.m. or 4 p.m., with varying schedules on weekends.

Currencies Accepted for Exchange in Uzbekistan

While the Uzbek sum is the official currency, exchange offices in Uzbekistan primarily accept two major international currencies:

• US dollars (USD)
• Euros (EUR)

Some exchange offices, particularly those located in banks, may also accept other foreign currencies. However, it’s generally easier to exchange US dollars or euros in Uzbekistan.

Illegal Currency Exchange in Uzbekistan

It’s important to be aware of the risks associated with illegal currency exchange in Uzbekistan. While you may encounter individuals offering exchange services near markets or tourist areas, engaging in such transactions is strictly prohibited by law.

Participating in illegal currency exchange carries criminal consequences for both the exchanger and the customer. To protect yourself and avoid legal issues, always use official, authorized currency exchange offices when exchanging money in Uzbekistan.

Using Online Currency Converters for UZS Exchange Rates

In today’s digital age, online currency converters have become a convenient tool for accessing up-to-date exchange rate information. These platforms allow you to quickly compare the Uzbek sum against other currencies and make informed decisions when exchanging money or conducting international transactions.

Features of Online Currency Converter Apps

One popular online currency converter is the Wise Currency Converter app. This app offers several useful features for individuals and businesses dealing with multiple currencies:

• Real-time exchange rates: The app provides live mid-market exchange rates, ensuring you have access to the most current and accurate information.
• Multi-currency support: You can easily convert between the Uzbek sum and a wide range of other currencies, including the US dollar, euro, British pound, Japanese yen, and more.
• Historical rates: The app allows you to view historical exchange rates, helping you analyze trends and make informed decisions based on past performance.
• Rate alerts: You can set up personalized rate alerts to stay informed about significant changes in the exchange rate between the Uzbek sum and your chosen currencies.

In addition to currency conversion, the Wise app also offers international money transfer services, allowing you to send money abroad securely and at competitive rates. With its user-friendly interface and robust features, the Wise Currency Converter app is a valuable resource for anyone dealing with the Uzbek sum and other currencies.

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