Kyrgyzstan Som (KGS)

Kyrgyzstan Som (KGS) is the official currency of Kyrgyzstan, a landlocked country in Central Asia. It has been in circulation since 1993 when Kyrgyzstan gained independence from the Soviet Union.

The Kyrgyzstan Som is issued by the National Bank of the Kyrgyz Republic and is available in both banknotes and coins. The banknotes are denominated in 20, 50, 100, 200, 500, 1000, 2000, and 5000 som, while the coins come in denominations of 1, 3, 5, 10, and 50 tyiyn.

The value of KGS can fluctuate against other currencies. The Kyrgyzstan economy is primarily based on agriculture and mining sectors. The tourism industry also contributes significantly to the country’s economy.

In 2013, Kyrgyzstan joined the Customs Union with Russia, Kazakhstan, and Belarus, and in 2015, it became a member of the Eurasian Economic Union, which succeeded the Customs Union. As a result, the Kyrgyzstan economy and its currency, KGS, can be influenced by trade and economic relations with these countries.

The symbol for the Kyrgyzstan Som is ₸, and it is widely accepted within the country. However, in international trade and foreign exchange rates, major currencies like the US Dollar (USD) or Euro (EUR) are generally preferred.

In summary, the Kyrgyzstan Som (KGS) is the official currency of Kyrgyzstan and is used in the country’s economic activities. Its value can fluctuate based on economic factors and exchange rates.