Tajikistan

Tajikistan is a Central Asian country known for its rugged mountains, popular for hiking. The currency of Tajikistan is the Tajikistani somoni (TJS) which is subdivided into 100 dirams. It is named after Ismail Samani, father of the Tajik nation. On 30 October 2000, the somoni was introduced replacing the Tajikistani ruble at the rate of 1 somoni = 1000 rubles. Diram banknotes were first introduced on 30 October 2000 to begin the currency off and coins were added later in 2001 to create a more efficient monetary system and slowly replace the diram notes. This was the first time in Tajikistan where circulating coins were introduced.

In 2001, the first issued coins were in denominations of 5, 10, 20, 25, 50 diram and 1, 3, and 5 somoni. The reverse of all somoni coins is revised yearly and commemorates several events. In June 2012, a second issue dated 2011 was issued including 5, 10, 20, 50 dirams and 1 somoni. In 2018, the third series of somoni coins were issued in denominations of 1, 3 and 5 somoni. In 1999, banknotes of 1, 5, 20, 50 dirams, 1, 5, 10, 20, 50, and 100 somoni were printed and issued in 2000. Together with a 3 somoni note, inflationary pressure following the introduction of the somoni has resulted in the printing of 200 and 500 somoni notes in 2010. The 5, 10, 20, 50, and 100 somoni notes were reissued in 2013, displaying the year 1999.

The exchange rate has stayed relatively stable since 2001. In January 2007, 3.21 Somoni was equivalent to 1 USD. From 2001–2003 Tajikistan's inflation rates were 33%, 12.2%, and 16.3%, respectively. In 2004 the rate decreased to 6.8%, and the rate for 2005 was 7.1%.

Tajikistan's economy has been dramatically weakened by six years of civil conflict, resulting in the loss of markets for its products. The country depends on international humanitarian assistance for most of its basic subsistence necessities. Even if the June 1997 peace agreement is honored, the country faces significant problems integrating former military personnel and refugees into the economy. In 2006,  Tajikistan's per capita GDP was 85% of the 1990s'. In 2009, the population had grown from 5.3 million in 1991 to 7.3 million. Despite opposition from vested interests, the Tajikistani government has continued pursuing structural reforms and macroeconomic stabilization since 2000.
 

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