From the history of the national currency of Tajikistan

The history of monetary transactions in Tajikistan dates back to ancient times.
The oldest coins found on the territory of Tajikistan are gold dorics of the Achaemenid period (VI-V centuries BC), which were found in the famous “Treasure of Amu Darya”, which was discovered as early as 1878 in the Qubodiyan district.
The lands of ancient Sogd and Bokhtar, which today’s territory of Tajikistan is a part of their territory, formed an important part of the Khakomanish Empire and were at the center of the ancient international trade between the East and the West.
Monetary transactions in the territory of Tajikistan continued to develop during the reign of Alexander the Great and the Seleucids (IV – mid-III centuries BC).
It is important to mention in this article that during the reign of Antiochus I (the beginning of the 3rd century BC), a mint operated in Bokhtar, where large silver coins (tetradrachms) with the king’s name were minted. The greatest development of monetary transactions in the territory of Tajikistan belongs to the period of existence of the Greek-Bochtarian state (III-II centuries BC).
Under the Kushans, the development of monetary transactions continued and acquired new local characteristics. Coins were minted in those days from gold, silver and copper. More than 20 hoards of military coins have been found in the territory of ancient Tajikistan.
Images related to Zoroastrian religion prevailed on Koshan coins. At the same time, the Kushan kings implemented a moderate religious policy and included the image of the Hindu god Shiva and Buddha on their coins. They united different peoples and cultures that developed in peaceful coexistence conditions.
In the Middle Ages, monetary transactions reached their peak of development during the period of the first centralized state of the Tajiks-Somonians in the IX-X centuries. At this time, there were mints in more than 30 cities of Upper Khurasan.
Somali dirhams were in circulation not only within the territory of this country, but beyond its territory.
The further development of monetary transactions in Central Asia dates back to the Timurid period (XV century). Large treasures of Temurian copper coins were found in Dushanbe, Khujand, Hisor, Regar and other places.
Minting of coins in the territory of Central Asia continued until 1920.
The first issuance of paper money in the territory of Central Asia, which were called “tanga” like silver coins, dates back to the last years of the reign of the last emir of Bukhara, Said Olimkhan.
Banknotes were issued in denominations of 20, 50, 100, 300, 500, 1,000, 2,000, 5,000, 10,000 coins.
In September 1920, the People’s Republic of the Council of Bukhara was formed on the territory of the Emirate of Bukhara, which continued to issue the same banknotes of the Emirate with only minor differences, including in the upper circle the inscription “The verdict of the highest protection has been issued” on the Soviet symbol – the image of a sickle and a bundle of wheat. was changed and the names and duties of the officials were changed. The entire text of these money is written in Tajik language.
Until 1925, there were no banking institutions in the territory of present-day Tajikistan.
The need to open an independent banking institution arose with the establishment of the Autonomous Soviet Socialist Republic of Tajikistan (in 1924).
In May 1925, the establishment of the republican unit of the Dushanbe, later Tajik State Bank of the Union of Soviet Socialist Republics was announced.
The modern banking system was established only after the independence of Tajikistan (September 9, 1991) and the establishment of the National Bank of Tajikistan.
Despite the fact that the Republic of Tajikistan gained independence in 1991, until the end of 1993, the currency of the Soviet Union was circulating in the territory of the republic, and later, from January 1, 1994 – the cash of the Russian Federation.
Tajikistan was the only country among the newly independent states, in whose territory the ruble of the Russian Federation was used in circulation until 1995. This situation has caused a number of serious socio-economic problems: the public debt of the republic is steadily increasing due to the lack of cash to pay wages, pensions and allowances; financing of the economy was practically stopped, and finally the National Bank of Tajikistan was deprived of the opportunity to conduct an independent monetary and credit and foreign exchange policy.
Solving these problems and other issues necessitated the introduction of own currency.
Thus, in order to implement an effective economic policy, accelerate economic changes and build an independent monetary system of Tajikistan, a decision was made to introduce the national currency of Tajikistan with the personal initiative and support of the President of the Republic of Tajikistan, Emomali Sharipovich Rahmonov.
According to the Decision of the State Commission of the Republic of Tajikistan on the introduction of the national currency dated May 6, 1995, No. 8 (324) “On the procedure for issuing the national currency – the Tajik ruble in the territory of the Republic of Tajikistan” dated May 10, 1995, the national currency of Tajikistan with the value 1, 5, 10, 20, 50, 100, 200, 500, 1000 rubles, sample of 1994, issued by the National Bank of Tajikistan,