200.000 So'm

Uzbekistan's central bank introduced this denomination in 2022 as inflationary pressure steadily eroded the purchasing power of lower-value notes already in circulation — the 100,000 so'm had only been issued in 2019, itself a sign of how quickly the scale shifted. The decision to issue a 200,000 note rather than jump straight to 500,000 reflects a deliberate pace set by the Markaziy Bank, which has managed denomination creep cautiously since the so'm was redenominated at 1,000-to-1 in 1994.

Colour-shifting ink on a note of this value tier is relatively recent practice for Uzbekistan, brought in line with regional security standards as counterfeiting technology became more accessible across Central Asia.