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25 000 Roubles

Issuer Khorezm People's Soviet Republic
Year 1922
Type Standard circulation banknote
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Obverse description The obverse is set against a fine guilloche underprint and carries bilingual inscriptions in Cyrillic and Arabic script. At left, a red hammer-and-sickle vignette within a laurel wreath serves as the central emblem, flanked by the vertical Cyrillic legend ПРОЛЕТАРИИ ВСЕХ СТРАН СОЕДИНЯЙТЕСЬ along the left border. The denomination 25000 is printed in large red numerals at centre, with РУБЛЕЙ above and РУБЛЕЙ below in Cyrillic, and additional Arabic-script legends occupying the upper and lower registers.
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Reverse description The reverse is printed on a dense guilloche background in pale blue and grey tones, with a central decorative panel enclosed in an ornamental cartouche bearing Arabic-script text throughout. A serial number appears at upper right within the panel, and additional inscriptions in Arabic script are arranged in two registers flanking a central dividing ornament, with marginal Arabic legends running along the upper edge.
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The Khorezm People's Soviet Republic was a short-lived Soviet client state established in 1920 on the ruins of the Khanate of Khiva, itself abolished after centuries of Uzbek dynastic rule. By 1922, the republic was issuing its own currency in increasingly large denominations as monetary conditions deteriorated — this 25,000 rouble note reflects inflationary pressure common across Soviet-affiliated Central Asian administrations of the period.

Khorezm was formally absorbed into the Soviet system in 1923, making the entire local currency series extremely short-lived. Notes from this issuer rarely appear in Western collections.

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