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Statement of the National Bank of Tajikistan on putting into circulation banknotes of 3, 200 and 500 Somoni
It is known to all that 10 years ago the new national currency – Somoni has been put into circulation. For this period the economy has considerably grown, a living standard of population has raised. In particular, the GDP has increased for 11 times, incomes of the state budget - 22 times, average wages - 17 times, commodity turnover in the country increased for 10 times and foreign trade turnover for 6 times.
The access to the world market and increase in volume of foreign trade, and also a rise in prices for the imported goods have served as the reason of rise in prices for consumer goods in 4 times. The growth of the GDP, goods turnover and other economic indicators were the reason of increase in money supply for 22 times and changes of its structure.
For example, if in the beginning of 2001, Dirams, banknotes of 1 and 5 Somoni made 42 % in the circulation of the country, at present their share as a whole has made 9 % and their volume has increased for 5 times. The share of banknotes of 50 and 100 Somoni has reached from 9% to 52 % and their amount has grown for 127 times.
The above mentioned figures testify that demand of the market for banknotes of big denomination has increased and satisfaction of the given demand with existing monetary structure has became complicated from day to day.
In this connection there was a necessity to put into circulation banknotes of big denomination along with using banknotes.
Moreover, at the present a failure to settle this issue, first of all, leads to increase of use of national banknotes of big denomination and foreign currency that, undoubtedly, causes a detriment to a national economy. Also availability of considerable amount of invaluable banknotes in circulation leads to increase of state expenditures for their printing, transportation and processing.
With a view of effective organization of monetary and commodity circulation and reduction of expenses for printing, transportation and processing, and also a non-admission of wide use of a foreign currency in monetary circulation of the country, the National Bank of Tajikistan issued and prepared for putting into circulation banknotes of denomination of 3, 200 and 500 Somoni. It should be noted that the mentioned banknotes have modern security features.
According to existing traditions of monetary system on the face side of the banknote of 3 Somoni it is printed a portrait of the Hero of Tajikistan Shirinsho Shotemur and images of sun with a book and a feather symbolizing progress and desire of people to learn sciences, to constructive labor. There is printed an image of the building of Majlisi Oli of the Republic of Tajikistan and fragments of painting of cultural objects of the country on the back side of the banknote.
It is printed the portrait of the Hero of Tajikistan – Nusratullo Makhsum and an image of the first building of the Central Executive Committee of the Council of National Commissioners of Tajik Autonomous Soviet Socialist Republic on the face side of the banknote of 200 Somoni and the picture of the National Library on the back side and an image of candles (XIX-th century) over it, an inkwell and a feather symbolizing diligence of people for getting knowledge.
It is printed the portrait of the ancestor of Tajik classical literature - A.Rudaki on the face side of the banknote of 500 Somoni and near to him the image of a musician playing a harp found at excavation of ancient places that symbolizes cleanliness, beauty, ancient culture and an inspiration source. On the back side of the banknote it is printed a portrait - modern creation of architecture of «Palace of Nation», symbols of the President of the country and pigeons testifying a lasting peace in the ancient Tajik land.
The National Bank of Tajikistan, since today, plans to explain through radio, TV and other mass media a necessity of additional putting into circulation of new Somoni banknotes of big denomination, their security features, methods of definition of their authenticity and other characteristics of the above mentioned banknotes. In this connection new Somoni banknotes will be put into circulation on September 10, 2010 of current year.
We are confident that issuance of banknotes of 3, 200 and 500 Somoni will facilitate a work of people at sale and purchase of goods and an exchange of other vital commodities, and also will reduce state expenditures
Press-Center
NBT
Dushanbe city
31.08.2010