200 So'm

By 1997, Uzbekistan's som had been in circulation for only four years — introduced in November 1994 to replace the transitional som-coupon, itself a stopgap after the Soviet ruble collapsed. The 200 so'm was printed domestically at the state security printing works in Tashkent, one of the few Central Asian republics to establish indigenous banknote production this early rather than contract abroad to De La Rue or Giesecke & Devrient.

The watermark remains the sole listed security feature, a relatively thin specification for the period, which contributed to counterfeiting pressure on the mid-denomination som notes through the late 1990s.