The national currency of Kyrgyzstan is called som. The monetary unit was put into circulation in May 1993. One som equals 100 tyyins. Despite the availability of 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 that approved its own national currency was Kyrgyzstan. Initially, one som was equated to twenty-five American cents. After inflation, the value of the currency dropped significantly.
Currency entry steps
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 of up to one hundred soms. They acquired more reliable protection against fakes than the original banknotes.
Gradually, the 1993 currency of Kyrgyzstan was withdrawn from circulation and replaced with new monetary units. In 1997, the third stage began. Bills with even more improved protection began to be introduced into circulation gradually. In 2000, new ones appeared: 200, 500 and 1000 soms.
Denominations in circulation
To date, the currency of Kyrgyzstan is represented by 10 denominations of notes: from 1 to 5000 units. Initially, they were issued in the form of a square shape of banknotes and were presented in three denominations: 1, 10 and 50. But now these old banknotes are used very rarely and have almost disappeared from everyday life. Coins are called tyiyins.
Currency design
Paper currency (Kyrgyzstan) som varies in color. The banknotes depict outstanding personalities of Kyrgyzstan. Coins in 10 and 50 tyiyn are minted from steel coated with brass, and 1, 3 and 5 soms - in nickel. There is a collector coin in one tyiyin. It is fully made of brass.
On coins 1, 10 and 50, a flower is depicted. This is one of the most beautiful and famous ornaments in Kyrgyzstan. The plant element was used in ancient applied art.
On coins in 1, 3 and 5 soms a traditional leather vessel is depicted. This element is used in many national ornaments.
Currency exchange
The currency of Kyrgyzstan is exchanged at banks or around-the-clock exchange points. Soms, American dollars, Kazakh tenge and many other types of currencies are accepted . In the capital of Kyrgyzstan, the exchange rate is the most profitable. For old banknotes, the rate is much lower everywhere. Credit cards are accepted at most banks. They also cashed travel checks. In the provinces, non-cash payment is practically not used.