200 Tengas Treasury

The Emirate of Bukhara issued paper currency in its final years under Emir Said Alim Khan, who had ruled since 1910 as a nominally independent sovereign under heavy Russian pressure. By 1919 the Bolsheviks were consolidating control across Central Asia, and these emergency issues were essentially a last attempt at maintaining a functioning local economy under extraordinary duress. The Bukharan People's Soviet Republic would be proclaimed in 1920 following the Red Army's assault on the city.

The tenga had been the traditional monetary unit of the region for centuries, so the denomination carried real local weight even as the issuing authority was days from extinction.