25 Soʻm

The 1992 Uzbek som series — of which this 25 so'm is part — was introduced as the country moved to replace the Soviet ruble following independence in 1991. The transition was not immediate; Russia's ruble remained in use well into 1993 across much of the former Soviet space, and Uzbekistan initially issued these notes as coupons alongside the ruble rather than as a clean replacement. Full monetary separation came only with the second som introduced in 1994, which made this entire series short-lived by design.

The watermark is the sole security feature — modest protection for a currency already scheduled for replacement.