Timeline

• 28.06.1991
• Parliamentary resolution on the nationalization of the State Bank of the USSR as "National Bank of the Republic of Tajikistan"; effective immediately
  - 14.12.1996: Law [No. 24] on the transformation into a central bank and name change into "National Bank of Tajikistan"; effective immediately (or retro-active)
• 07.09.1993
• Agreement between Tajikistan and the Russian Federation on the adoption of the Russian currency by Tajikistan; ratified by the parliament on 28.12.1993:
  - 27.12.1993: Law [No. 878] on the introduction of the Russian currency; effective 01.01.1994 by decree of the president of the parliament [No. 157] of 04.01.1994
  - 08.01.1994: Demonetization of the Soviet and pre-1993 Russian banknotes.

Timeline

• 06.05.1995
• Government (State Commission) resolution [No. 8 (324)] on the creation of the Tajik Ruble as national currency; effective immediately:
  - According to some sources, a sub-unit "Tanga" was foreseen but this was maybe a misinterpretation of the Tajik word "tanga" for coin.
• 10.05.1995
• Start of currency exchange:
  - 10.05.1995: Start of issuance of the new banknotes
  - Differentiated transition rates: 1 : 100 (cash, wages, deposits after Jan 1993), 1 : 1'000 (shares and stocks), 1 : 1'200 (deposits and liabilities)
  - 15.05.1995: Demonetization of the Russian banknotes (1993 model).

Valuation Regimes

• 1995-2000
• Variable rate, highly inflationary

Timeline

• 26.10.2000
• Presidential decree [No. 415] on the currency reform; effective immediately
• 30.10.2000
• Start of currency exchange:
  - 30.10.2000: Start of issuance of the new banknotes and coins
  - Differentiated transition rates: 1 : 100 (cash, wages, deposits after Jan 1993), 1 : 1'000 (shares and stocks), 1 : 1'200 (deposits and liabilities)
  - 31.03.2001: Demonetization of the former currency.

Valuation Regimes

• 2000-
• Variable rate