Doing Business Guide Tajikistan 2012/13 – PwC

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Doing Business Guide Tajikistan 2012/13 – PwC

Shortly after its declaration of independence in 1991, the Tajikistan currency market faced a unique situation when cash payments were made with Russian rubles and non-cash payments were settled with hyperinflated Soviet rubles. The difference between their values resulted in drastic damage to the Tajikistan economy. In mid-1995, the Tajikistan government introduced a Tajik ruble, underwent a conversion and denomination process, and established the Tajik Interbank Currency Exchange. This contributed to the reduction of inflation rates from 2100% in 1995 to 40% in 1996. The inflation rate was approximately 6.4% in 2010.