Time Period: 1993-1994

Currency: 1st Uzbek Som

15.02.1991
Law [No. 205-XII] on the establishment of a two-tier banking system, the "State Bank of Usbekistan" became the central bank; effective upon constitution of the bank on 01.07.1991:
- 21.12.1995: Law [No. 154-I] on the re-constitution of the Central Bank of Usbekistan; effective 01.01.1996.
06.03.1993
Law [No. 835-XII] on usage of the Russian Ruble instead of a national currency (the 1991 central bank law only stated that the Ruble remains the currency until a national currency is introduced); effective immediately
12.11.1993
Government resolution [No. 550] on the introduction of an interim ("coupon") currency, initially for parallel use with Russian and Soviet paper money (as a reaction to the demonetization of the Soviet currency in Russia on 26.07.1993); effective immediately
15.11.1993
Start of currency exchange:
- 15.11.1993: Start of issuance of the coupon banknotes by the State Bank
- 15.11.1993: Immediate demonetization of Soviet and Russian notes of 10'000 and 5'000 Rubles (could be exchanged until 30.11.1993)
- 27.12.1993: Demonetization of all Soviet and Russian paper money (by effect of the government resolution [No. 611] of that day).

16.06.1994
Presidential decree [No. 870] on the introduction of a definitive national currency; effective 01.07.1994
01.07.1994
Start of currency exchange:
- 01.07.1994: Start of issuance of the new banknotes and coins
- 31.07.1994: Demonetization of the interim (coupon) currency.