Tuesday, 23, July, 2024

Uzbek soum was among Top 10 weakest currencies in the world in 2023, The Uzbek soum ranked as the seventh weakest currency in the world with 1 soum buying 0.000087 dollar (or $1 equals 11,516 Uzbek soum). It was introduced in 1993 and is free-floating, Forbes said in report.

Uzbekistan is a former republic of the Soviet Union and is located in Central Asia. It’s one of the leading global cotton exporters and has substantial mineral and oil and gas reserves.

The country has been implementing economic reforms but continues to struggle with low economic growth, high inflation and unemployment and corruption.

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