Tajikistan Somoni (TJS)
19 hours agoThe Tajikistan Somoni (TJS) serves as the official currency of Tajikistan. The currency code for the Somoni is TJS, and it is commonly represented by the symbol “ЅМ” or “сомонӣ.” The National Bank of Tajikistan oversees the issuance and management of the country's money supply, along with the establishment and execution of monetary policy.
The Tajikistan Somoni was launched on October 30, 2000, replacing the Tajikistani Ruble (TJR) at a conversion rate of 1 Somoni to 1,000 Rubles. This currency reform was essential for stabilizing the national economy and currency after the country gained independence from the Soviet Union in 1991 and endured a civil war that lasted until 1997. The Somoni is named in honor of Ismail Samani, the founder of the Samanid dynasty that ruled the area during the 9th and 10th centuries.
The Tajikistan Somoni is divided into 100 smaller units known as diram. Coins are available in denominations of 5, 10, 20, 25, and 50 diram, as well as 1, 3, and 5 Somoni. Banknotes can be found in denominations of 1, 3, 5, 10, 20, 50, 100, 200, and 500 Somoni. The designs featured on the coins and banknotes of the Tajikistan Somoni often showcase historical figures, cultural symbols, and landmarks, highlighting the nation’s rich history and heritage.
Tajikistan’s economy is mainly supported by agriculture, mining, and remittances from migrant workers. The country possesses considerable hydropower potential and mineral resources, including gold and aluminum. However, Tajikistan faces several challenges, such as high unemployment, poverty, and limited economic diversification. The exchange rate of the Tajikistan Somoni may experience fluctuations due to external influences, including changes in global commodity prices, regional economic trends, and the performance of major international currencies.
The Tajikistan Somoni is the official currency of Tajikistan, managed by the National Bank of Tajikistan. Introduced in 2000 to replace the Tajikistani Ruble, the currency has contributed to a degree of stability in the national economy. The Somoni is subdivided into 100 diram, with coins and banknotes issued in various denominations. The exchange rate of the Tajikistan Somoni can be affected by external factors and the overall performance of the national economy.
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