2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
The national currency of Kyrgyzstan is called som. The monetary unit was put into circulation in May 1993. One som is equal to 100 tyiyns. Despite having its own currency, the circulation of Russian rubles, euros and US dollars is widely developed in the country.
The history of the emergence of the national currency of Kyrgyzstan
After Russia, the first country to adopt its own national currency was Kyrgyzstan. Initially, one som was equal to twenty-five American cents. After inflation, the value of the currency dropped significantly.
Stages of currency input
It was introduced in three stages. In the ninety-third year, denominations of 1, 5 and 20 soms were issued. From 1994 to 1995, the second batch of the national currency was put into circulation - banknotes up to one hundred soms. They have acquired more reliable protection against counterfeiting than the original bills.
Gradually, the currency of Kyrgyzstan in 1993 was withdrawn from circulation and replaced by new monetary units. In 1997, the third stage began. Gradually, banknotes with even more improved protection began to be introduced into circulation. New ones appeared in 2000: 200, 500 and 1000 soms.
Definitions in circulation
Today, the currency of Kyrgyzstan is represented by 10 denominations of banknotes: from 1 to 5000 units. Initially, they were issued in the form of square-shaped banknotes and were presented in three denominations: 1, 10 and 50. But at present, these old banknotes are used very rarely and have almost disappeared from use. The coins are called tyiyns.
Currency design
Paper currency (Kyrgyzstan) som differs in color. Outstanding personalities of Kyrgyzstan are depicted on the banknotes. Coins of 10 and 50 tyiyn are minted from brass-plated steel, and 1, 3 and 5 soms are minted with nickel. There is a collectible coin in one tyiyn. It is entirely made of brass.
Coins 1, 10 and 50 depict a flower. This is one of the most beautiful and famous ornaments in Kyrgyzstan. The plant element has been used in ancient arts and crafts.
The 1, 3 and 5 som coins depict a traditional leather vessel. This element is used in many national ornaments.
Currency exchange
The currency of Kyrgyzstan is exchanged in banks or round-the-clock exchange offices. Soms, American dollars, Kazakh tenge and many other types of currencies are accepted. In the capital of Kyrgyzstan, the exchange rate is the most favorable. For old banknotes, the exchange rate is much lower everywhere. Credit cards are accepted for payment in most banks. Traveler's checks are also cashed in them. In the provinces, cashless payments are practically not used.
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