KULOB, September 14, 2010, Asia-Plus  -- The branch of the National Bank of Tajikistan (NBT) in Kulob and the main branch of Amonatbonk (Tajikistan’s savings bank) here today began to replace dilapidated banknotes with recently issued 3-, 200- and 500-somoni banknotes.

The head of NBT’s branch in Kulob Abdukarim Nematov says they plan to replace at least 500,000 somoni of dilapidated banknotes by the end of Tuesday.

“More than 10 million somoni of dilapidated banknotes have been immobilized in the Kulob zone over the first eight months of this year,” Nematov said, adding that another 5 million somoni of dilapidated banknotes will be immobilized in the area until the end of the year.

We will recall that Tajik central bank issued 3-, 200- and 500-somoni banknotes on September 10.  The NBT officials say the objective of issuance of these banknotes is in improving the structure of the country’s monetary system.

Tajik national currency, the somoni, was introduced on October 30, 2000; it replaced the Tajikistani ruble, at the rate of 1 somoni=1000 rubles.  The somoni is subdivided into 100 diram.  Banknotes in denominations of 1, 3, 5, 10, 20, 50, 100, 200 and 500 somoni as well as coins in denominations of 5, 10, 20, 25 and 50 diram also 1, 3 and 5 somoni are currently in circulation in the country.