NATIONAL INFORMATION AGENCY OF TAJIKISTAN "KHOVAR"

History of national currency of Tajikistan

The history of emergence of currency in the territory of Tajikistan dates from ancient times.

The most ancient coins, emerged in the territory of Tajikistan, are golden Hakhomanishi “doriks” (VI – V centuries B.C.), which have been found during the famous findings of “Oxus Treasure”, discovered yet in 1878 in Qubodiyon district.

Currency in the territory of Tajikistan further developed in the period of Alexander the Great and the Selevkids (IV century – mid-III century B.C.).

It should be noted that under the Antiochus I (early III century B.C.) a mint functioned in Bactria, which minted big bronze coins (tetradrahma) with the name and image of the king. An astounding growth of currency in the territory of Tajikistan was gained during the existence of the Greco-Bactrian Kingdom (III-II centuries B.C.).

In the period of Kushan Empire the enhancement of currency continued and it adopted new local peculiarities. The coins in that period were minted from gold, bronze and copper. More than 20 treasuries of Kushani coins have been discovered in the territory of ancient Tajikistan.

The images connected with Zoroastrism were favored in Kushani coins. During this period the Kushani kings realized a stable mazhab integration policy and placed in their coins the images of an Indian god Shiva, as well as Buddha.

In the middle ages the currency reached the culmination of its growth in the period of the first centralized Tajik state – Samanids in IX-X centuries. In this epoch the mints operated in more than 30 cities of Transoxiana (Movarounnahr) and Khorasan.

Samanid dirhams turned not only in the territory of this state, but also far beyond it.

Further development of currency in Central Asia dates back to Temurid period (XV century). Great treasuries of copper coins of Temurids have been discovered in Dushanbe, Khujand, Hissor, Regar and other areas.

Coinage in the territory of Central Asia continued till 1920.

The issue of the first paper currency in the territory of Central Asia, which was called “tanga” (coin) like bronze coins, dates back to the last years of reign of the latest Emir of Bukhara Said Olimkhon.

The paper currency was issued with a value worth 20, 50, 100, 300, 500, 1 000, 2 000, 5 000, 10 000 coins.

No banking institution existed in the territory of present Tajikistan before 1925.

The necessity of opening an independent banking institution emerged with the establishment of Tajik Autonomous Soviet Socialist Republic (1924).

The establishment of a republican Dushanbe unit, then Tajikistani unit of the USSR State Bank was announced in May 1925.

The possibility of organization of modern banking system occurred only after the independence of Tajikistan (9 September 1991) and establishment of National Bank of Tajikistan.

Despite the fact that the Republic of Tajikistan gained its independence in 1991, till the end of 1993 the currency of the Soviet Union period and then from the 1^st of January 1994 – the cash of the Russian Federation has been in circulation in the territory of the republic.

According to the Resolution of the State Commission of the Republic of Tajikistan on introduction of national currency from the 6^th of May 1995, # 8 (324) “About the order of putting into circulation a national currency – Tajik ruble in the territory of the Republic of Tajikistan” the national currency of Tajikistan with value of 1, 5, 10, 20, 50, 100, 200, 500, 1000 ruble of 1994 model, issue of the National Bank of Tajikistan, was put into circulation from 10 May 1995.

In accordance with the Decree of the President of the Republic of Tajikistan dated 26 October 2000, # 415 putting into circulation of a new national currency of the country from 30 October 2000 – “Somoni”, called in honour of the founder of the first centralized state of Tajiks Ismoil Somoni (849-907), has been announced. Thus, the paper currency with value of 1, 5, 10, 20, 50, 100 Somoni and its small change with value of 1, 5, 20, 50 diram have been put into circulation.

The pictures of great modern and ancient personalities of Tajik people, as well as depiction of architectural and historical monuments of Tajikistan, arts and crafts items of the Tajik people have been placed in the new paper currency.

With the view of improvement of currency system structure of the country, according to the Decree of the President of the Republic of Tajikistan # УП 645 dated 28 August 2001, hard cash (coinage) issued by the National Bank of Tajikistan with value of 1, 3, 5 Somoni and 5, 10, 20, 25, 50 diram has been put into circulation from the 3^rd of September 2001. These coins have been produced in the Coinage enterprise of Saint-Petersburg of the Russian Federation.

The first commemorative coins of Tajikistan have been put into circulation in November 2004: coins with value of 5 Somoni devoted to the 10^th anniversary of adoption of the Constitution of the Republic of Tajikistan and coins with value of 3 Somoni devoted to the 80^th anniversary of the capital of Tajikistan, Dushanbe. These coins have been minted in two forms – from silver and from mixture of brass and nickel silver.

Banknotes

Somoni The paper of banknotes: made of 100% cotton, consisting of colourless security fibres that appear in red, blue and green under ultraviolet light. Printing methods: Intaglio: on the face – portrait, all texts, figures indicating the denomination of the banknote, two-coloured vertical ornamental line, picture of Tajikistan state emblem, the code mark for the blind, facsmile of the official signatures; offset: on the face – background design made with iridescent coating, background picture in the center of the banknote, ornament in the right part of coloured space, corresponding design, figure in the form of a tulip with the element against xerography “PEAK”;on the back – all pictures and texts; letterpress: on the face- serial numbers of the banknote Main security features: 1. Watermark: multitoned portrait, repeating portrait on the face of the banknote on the smaller scale. 2. Security thread: windowed, six metallic dashed lines; when held up to the light, the thread appears as a continuous dark stripe with light repeating text “БМТ”in direct and overturned images. 3. Microprinting: On the face – microtext in Tajik indicating the denomination of the banknote;On the back – microtext in English, indicating the denomination of the banknote. 4. Imbedded printed element against xerography: when the banknote is viewed at different angles, several dark and light figures indicating the denomination of the banknote appear in the pictureof the “tulip”. 5. See-through register: elements of the lathework desigh placed into the light circle on the face and back are registered under light forming the picture of the emblem of the National Bank of Tajikistan. 6. Kinegram: when the banknote is viewed at various angles, the picture of the emblem of the National Bank of Tajikistan and the text in Tajik and English appear in different colours on the vertical metallic stripe (only on the banknotes of 20,50 and 100 Somoni). 7. Sign for the bling: octagons in the lowert part of banknote have the raised relief well felt by toush. 8. Magnetic security: horizontal serial numbers in the left upper corner of the banknote have magnetic features. Dimensions: 1 somoni 141мм х 65мм 3 somoni-141мм х 65мм 5 somoni -144мм х 65мм 10 somoni -147мм х 65мм 20 somoni -150мм х 65мм 50 somoni -153мм х 65мм 100 somoni -156мм х 65мм 200 somoni -159мм х 68мм 500 somoni -162мм х 71мм Mirzo Tursunzoda (1911-1977) – poet, prominent and politic figure,hero of Tajikistan The building of National Bank of Tajikistan Shirinsho Shotemur (1899-1937) – Hero of Tajikistan, Statesman of Tajikistan Building of Majlisi Oli of the Republic of Tajikistan Sadriddin Ayni (1878-1954)founder of Tajik modern literature The tomb of Abuabdullo Rudaki in Panjakent district Mir Said Ali Hamadoni (1314-1384)- tajik thinker and poet The tomb of Mir Said Ali Hamadoni in Kulob town Abuali ibn Sino (Avicenna) (980-1037), great scientist, encyclopaedist of the Tajik people Hissar Castle Bobojon Gafurov (1908-1977)- scientist, politician and statesman of Tajikistan “Sino” Chaikhana in Isfara district Ismoil Somoni (849-907) – founder of the first centralized state of Tajiks – Samanids State President Palace Nusratullo Makhsum (1881-1937) — Hero of Tajikistan, Statesman of Tajikistan Building of National Library Abuabdullo Rudaki (858-941) – Founder of Tajik classic literature Palace of Nation

Diram

Banknote paper: made of 100% cotton, consisting of colourless security fibres that appear in red, blue and green under ultraviolet light Printing methodsoffset: on the face – all pictures, except serial numbers; on the back – all pictures and texts.letterpress: On the face – serial numbers. Main security features: Watermark: multitoned picture of the emblem of the National Bank of Tajikistan. Security thread: the transparent polymer stripe with the repeating text “БМТ” in direct and overturned images. Microprinting: on the face – microtext in Tajik indicating the denomination of the banknote; on the back – microtext in English indicating the denomination of the banknote. Magnetic security: serial numbers of the banknote have magnetic features. Dimensions : 110мм х 60мм Building of S. Ayni Opera and Ballet Theatre Mountain landscape Culture Palace in Urunkhodjaev farm Sepulchre in Chiluchorchashma locality of Shahritus district Meetings Hall of the National Bank of Tajikistan Mountain road Ismoil Somoni Mountain valley

Coins

Tajiks have an ancient tradition of coinage and commodity-money relations. Minting of first coins in the territory of ancient Boctria and Sogdiana goes back to the III Century Before Christ, epoch of Selevkids’ predominance and Greek-Bactrian rules. These coins were called drachmas and were minted the same way as Greek coins. This tradition continued during the whole history of the tajik people until the twentieth century. The peak of money circulation and coin minting starts at the time when Somonids became rules of the first centralized state of Tajiks (875-999), and the currency of the sovereign Tajikistan is called Somoni in their honor. It should be noted that up to 30 minting centers existed in the territory of this powerful state.

Denomination	Diameter (mm)	Thickness (mm)	Weight (g.)	Metal	Colour
1 dirams	14,5		1.30
2 dirams	16,0		1.60
5 dirams	16,50	1,35	2,00	bi-metal (cupro-zinc-steel-cupro-zinc)	yellow
10 dirams	17.50	1.40	2.40	bi-metal (cupro-zinc-steel-cupro-zinc)	yellow
20 dirams	18.50	1.40	2.70	bi-metal (cupro-zinc-steel-cupro-zinc)	yellow
25 dirams	19.00	1,40	2,76	Copper—zinc	yellow
50 dirams	21,00	1,45	3,60	Copper-zinc	yellow
1 somoni	24,00	1,60	5,20	Copper-nickel	white
3 somoni	25,50	1,80	6,30	Copper-nickel	white
5 somoni	26,50	1,85	7,00	Copper-nickel	white