June 28, 1994 - An exchange of temporary coupons for Uzbekistan's own currency, the sum, begins on 28 June, Russian sources report. The coupons were issued in November 1993 when Uzbekistan withdrew from the ruble zone rather than meeting what Uzbek officials considered Russia's excessive demands for hard currency payments as a condition for membership. According to a presidential decree quoted by Interfax on 27 June, the sum will be the only legal tender in Uzbekistan as of 1 July, though sum-coupons may be used in trade or be deposited in the Uzbek Savings Bank until 1 August. Uzbek President Islam Karimov was quoted by Interfax on 27 June as telling government officials that the sum should be a convertible currency in order to guarantee its position on the world market.