From: Justin Burke (JBurke@sorosny.org)
Date: Fri Oct 27 2000 - 10:32:10 EDT
TAJIKISTAN TO INTRODUCE NEW CURRENCY
Tajik President Imomali Rakhmonov announced in Dushanbe on 26 October that a new
currency, the somoni, will be introduced on 30 October to
replace the Tajik ruble, Interfax reported. The ruble will
remain legal tender for a further five months during which
the two currencies will be exchanged at a rate of 1:1.
Rakhmonov said the introduction of the new currency is
intended to strengthen the national banking system. Interfax
quoted an unnamed IMF representative as saying that the Fund
supports the introduction of the new currency which it
believes will contribute to macroenomic stability and
expedite the transition to a market economy. LF
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