Kyrgyz Som: History, Usage, and Ecosystem in Kyrgyzstan

The Kyrgyz Som has a rich history that dates back to 1993, when it was introduced as the official currency of Kyrgyzstan.

In 1993, the Kyrgyz Som replaced the Soviet Ruble as the official currency, marking a significant milestone in the country's transition to independence.

The Kyrgyz Som is the official currency of Kyrgyzstan and is widely used throughout the country.

It's widely accepted in major cities and tourist areas, making it easy for visitors to get by.

The Kyrgyz Som is subdivided into 100 tyiyn, although the tyiyn is no longer in circulation.

You can exchange your currency for Kyrgyz Som at banks, currency exchange offices, or even at some hotels.

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The Kyrgyz som is the local currency of Kyrgyzstan, and it's available in various denominations.

You can find notes of Kyrgyzstan in 20, 50, 100, 200, 500, 1000, and 5000 Som.

However, using the 1000 and 5000 Som notes can be tricky at smaller shops, as they often don't have change.

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The official currency symbol for the Kyrgyz Republic's som was approved in February 2017. It's an underlined С (es) that's represented in Unicode as U+20C0⃀SOM SIGN.

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In Kyrgyzstan, the notes come in various denominations.

The 1000 and 5000 Som notes can be tricky to use at smaller shops. They often don't have change, which can cause problems.

You can find notes in 20, 50, 100, 200, 500, and 5000 Som denominations.

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The Kyrgyz Som has a fascinating history. It was introduced in 1993 as a replacement for the Soviet Ruble.

The first Kyrgyz Som was pegged to the Russian Ruble at a rate of 1:1. It was a significant change for the country, marking its independence from the Soviet Union.

In 2009, the Kyrgyz Som underwent a major devaluation, dropping from 40 to 45 Som per US Dollar to 45 to 48 Som per US Dollar.

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The Kyrgyzstani Som is a currency with a dynamic exchange rate system. The exchange rate is currently hovering around 80 to 85 Som per USD, as the Central Bank of Kyrgyzstan intervenes to ensure currency stability.

You can exchange your Kyrgyz Som for various currencies, including USD, GBP, CADCAD, AUDAUD, EUREUR, INRINR, AEDAED, and CHFCHF. Here's a breakdown of the exchange rates:

You can also exchange your Kyrgyz Som for other currencies like SEK, JPY, BND, and XPF.

The Kyrgyzstani Som operates under a managed floating exchange rate system, where its value relative to other currencies is determined by market forces, such as supply and demand.

This system allows the Kyrgyzstani Som to respond to external shocks and changes in global market conditions while maintaining a certain level of stability.

The National Bank of the Kyrgyz Republic may intervene in the foreign exchange market if necessary to maintain stability or prevent excessive fluctuations.

The exchange rate is currently hovering around 80 to 85 Som per USD, as the Central Bank of Kyrgyzstan intervenes to ensure currency stability by holding gold and foreign reserves.

Here's a breakdown of the exchange rates for KGS to other major currencies:

Economic indicators, such as GDP growth, inflation, and interest rates, can impact the exchange rate, as can geopolitical events, central bank decisions, and more.

The Kyrgyzstani Som has a few different denominations and subdivisions to keep in mind.

The smallest unit of currency is the tyiyn, which is equivalent to 1/100 of a Som.

Coins are issued in denominations of 1, 3, 5, and 10 Som, as well as 10, 50, and 100 tyiyn.

Banknotes are available in larger denominations, including 1, 5, 10, 20, 50, 100, 200, 500, 1,000, and 5,000 Som.

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The Kyrgyz Republic has a variety of commemorative coins available for collectors.

These coins are struck in different metals, including silver and gold.

A special collector's 1 tıyın piece is also available, made from brass.

They are not used in everyday circulation, as they are intended for collectors only.

The Kyrgyzstani Som has a unique subdivision system. It's divided into 100 smaller units called tyiyn.

Coins are issued in various denominations, including 1, 3, 5, and 10 Som, as well as 10, 50, and 100 tyiyn. This variety of denominations makes it easier to conduct transactions.

Banknotes are available in denominations ranging from 1 to 5,000 Som, with some higher values being more difficult to use at smaller shops.

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The fourth series of Kyrgyzstani banknotes, introduced in 2009, features enhanced security features compared to the previous series. This series includes denominations of 5,000 som, 1,000 som, 500 som, 200 som, 100 som, 50 som, and 20 som.

The 5,000 som note, issued in 2009, measures 156 × 73 mm. The 1,000 som note, introduced in 2010, has a larger size of 150 × 71 mm.

These notes have portraits of notable individuals on the obverse side, including Togolok Moldo, Kurmanjan Datka, Toktogul Satylganov, and Alykul Osmonov. The reverse side features various landmarks, such as Tash Rabat, Minaret and mausoleum, Toktogul Hydroelectric Power Station, and Lake Issyk-Kul.

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The 20 som note has a smaller size of 120 × 58 mm. The 50 som and 100 som notes have sizes of 126 × 61 mm and 132 × 63 mm, respectively.

Here is a list of the denominations in the fourth series, along with their sizes and issue dates:

Kyrgyzstan's currency is made up of several denominations. The Kyrgyzstani Som is subdivided into 100 smaller units called tyiyn.

Coins are issued in various denominations, including 1, 3, 5, and 10 Som, as well as 10, 50, and 100 tyiyn. The 1, 10, and 50 Tyin coins are relatively rare due to the exchange rate.

Commemorative coins are also issued, but they're not used in everyday circulation. These special coins are struck in silver and gold, and there's even a collector's 1 tıyın piece made of brass.

Coins in 1, 3, 5, and 10 Som are very common, making them easy to find.

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The Kyrgyz Som has a fascinating history, and understanding its historical exchange rates can be incredibly valuable for travelers, investors, and anyone interested in the Kyrgyzstani economy.

The KGS/USD rate has seen significant fluctuations over the years. In the six months, the KGS/USD rate is down -3.10%, indicating that the Kyrgyzstani Som has decreased in value compared to the US Dollar.

To get a better grasp of the KGS/USD rate, let's take a look at the historical chart. This will give us a visual representation of the rate's performance over time.

One of the most interesting aspects of the KGS/USD rate is its year-to-year performance. By clicking on the links below, you can view the rates between the Kyrgyzstani Som and the US Dollar for a particular year:

By examining the historical exchange rates, you can make more informed decisions about your travels, investments, or business dealings in Kyrgyzstan.

In Kyrgyzstan, you can use foreign currencies like USD for larger purchases, but for day-to-day expenses, you'll need to use the local currency, the Kyrgyz som.

For smaller transactions, like buying a Coke or dinner, you'll most likely get refused if you try to pay with foreign currency.

The National Bank of Kyrgyzstan has collaborated with printers like Crane Currency and Oberthur Fiduciaire to design and produce innovative banknotes, which has been recognized with awards and accolades.

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You can usually use USD for larger purchases in Kyrgyzstan, such as accommodation or tour costs. However, for day-to-day purchases, you'll need to use the local currency.

For smaller transactions like buying a coke or dinner, using a foreign currency will most likely get you refused.

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The National Bank of Kyrgyzstan worked closely with printers Crane Currency and Oberthur Fiduciaire to create the banknote design.

Industry collaborations are essential for strengthening the currency ecosystem, as seen in the case of the National Bank of Kyrgyzstan's partnership with Crane Currency and Oberthur Fiduciaire.

The banknote design was recognized for its innovative strategies by the Organizing Committee of the Mint and Print Conference, which awarded Dana Saifullina the 2023 Recognition and Collaborative Endeavors (RACE) Award.

This award is a testament to the effectiveness of industry collaborations in driving innovation and excellence in currency design and production.