Kyrgyzstani Som - KGS
 |
Definition of 'Kyrgyzstani Som - KGS'The official currency of Kyrgyzstan, which is also called the Kyrgyz Republic. The multicolored paper notes come in denominations of 1, 5, 10, 20, 50, 100, 200, 500 and 1,000 som and feature portraits of important people in the country's history. A fraction of a som - the functional equivalent of a U.S. cent - is a tiyin. |
 |
Investopedia explains 'Kyrgyzstani Som - KGS'Located in Central Asia and bordered by China, Kazakhstan, Tajikistan and Uzbekistan, Kyrgyzstan was a Soviet republic until 1991. It replaced the Soviet ruble with the som in 1993. This country of 5 million is the second poorest in Central Asia and is considered politically unstable. The economy is largely based on agriculture and industry, especially tobacco, cotton and gold. |
Related Definitions
Articles Of Interest
-
How Forex Speculators Profited From Famous Currency Meltdowns
Studying currency meltdowns shows traders how they can avoid big losses (or make big money) when global politics tilt the forex market. -
Investing In Russia: A Risky Game?
You might be better off playing roulette if you don't understand the risks of investing here. -
State-Run Economies: From Public To Private
Find out how former Iron Curtain countries used private enterprise to join the world financial markets. -
How Bitcoin Works
Bitcoin is a digital currency that exists almost wholly in the virtual realm, unlike physical currencies like dollars and euros. A growing number of proponents support its use as an alternative ... -
How To Survive When Prices Double Every Day And A Half
Hyperinflation can destroy your life savings in a matter of months or less. We’ve seen again and again throughout history…Germany in the 1920s, Hungary in the 1940s, Yugoslavia in the 1990s and ... -
The Yen Is Setting Up To Be An Attractive Long-Term Investment
As Japan embarks on quantitative easing, the yen has come under pressure. Will it continue to be the source of big profits in the latter half of 2013? -
Five ETFs To Cash In On Japan’s Rise
With the election of Shinzo Abe and birth of “Abenomics”, things are looking up for Japan's exporting dependent nation. For investors, Japan may finally be awaking from its doldrums. -
3 Costly Spelling Errors
History has proved that some spelling errors can cost companies and governments millions of dollars. -
The Most Counterfeit-Proof Currencies
The IACA awards provide some of the best insight into the currencies that are proving the most difficult to fake. -
An Introduction To Complementary Currencies
There are alternatives to national currencies. Discover complementary currencies and how they work.
Free Annual Reports