Kyrgyzstani Som - KGS

AAA

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 TERMS
  1. New York Dollar

    The buying power of a U.S. dollar in the city of New York. The ...
  2. CAD (Canadian Dollar)

    The currency abbreviation or currency symbol for the Canadian ...
  3. RUB (Russian Ruble)

    The currency abbreviation the Russian ruble (RUB), the currency ...
  4. Euro

    The official currency of the European Union's (EU) member states. ...
  5. Confederate Dollar

    A currency issued by the Confederate States of America during ...
  6. Monetary Policy

    The actions of a central bank, currency board or other regulatory ...
RELATED FAQS
  1. How is a block chain network useful for trading goods and assets in virtual currencies?

    Perhaps the most famous quote associated with blockchain technology came from an anonymous virtual currency user, who described ... Read Full Answer >>
  2. What types of companies benefit from reporting results utilizing constant currencies ...

    Any company that does a substantial amount of business in foreign countries, and is therefore subject to foreign currency ... Read Full Answer >>
  3. What are key benefits to a country that has engaged in a policy of currency depreciation?

    In the modern world, most currencies represent fiat money not backed by any commodity or precious metal and whose value is ... Read Full Answer >>
  4. How does a block chain prevent double-spending of Bitcoins?

    Double-spending – the incidence of one individual successfully spending a Bitcoin balance more than once – is a major concern ... Read Full Answer >>
  5. What is the difference between barter and currency systems?

    The primary difference between barter and currency systems is that a currency system uses an agreed-upon form of paper or ... Read Full Answer >>
  6. What is a forward contract against an export?

    A forward contract against an export is an agreement between the importer and exporter to exchange a specified amount of ... Read Full Answer >>
Related Articles
  1. Forex Education

    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.
  2. Economics

    Investing In Russia: A Risky Game?

    You might be better off playing roulette if you don't understand the risks of investing here.
  3. Personal Finance

    State-Run Economies: From Public To Private

    Find out how former Iron Curtain countries used private enterprise to join the world financial markets.
  4. Investing News

    Will Greece Return to the Drachma?

    More drama from Greece, as rumors swirl about a return to the drachma.
  5. Mutual Funds & ETFs

    ETF Analysis: PowerShares DB US Dollar

    Discover how an ETF can be used to bet on multiple different currency futures contracts with the PowerShares DB Dollar Index Bullish Fund (UUP).
  6. Economics

    How Does China Manage Its Money Supply?

    Here's how the Central Bank of China manages its currency rates and the money supply.
  7. Forex Strategies

    Three Currencies Benefiting From Low Oil Prices

    The Indian rupee is clearly the biggest beneficiary of the slide in oil prices, followed by the Indonesian rupiah and British pound.
  8. Mutual Funds & ETFs

    Are Currency Hedged ETFs a Good Idea?

    Considering currency-hedged ETFs? Here's a look at eight and what you need to know right now.
  9. Forex

    Why The Yuan (RMB) Is Russia's Favorite Currency

    Russia has agreed to a currency swap worth $24 billion with China. What is Russia's thinking behind promoting the Yuan in its economy?
  10. Forex

    How Undervalued Is The Yuan?

    Some argue that the large U.S. trade deficits over the past 15 years are primarily due to currency management by U.S. trading partners.

You May Also Like

Hot Definitions
  1. Nuncupative Will

    A verbal will that must have two witnesses and can only deal with the distribution of personal property. A nuncupative will ...
  2. OsMA

    An abbreviation for Oscillator - Moving Average. OsMA is used in technical analysis to represent the variance between an ...
  3. Investopedia

    One of the best-known sources of financial information on the internet. Investopedia is a resource for investors, consumers ...
  4. Unfair Claims Practice

    The improper avoidance of a claim by an insurer or an attempt to reduce the size of the claim. By engaging in unfair claims ...
  5. Killer Bees

    An individual or firm that helps a company fend off a takeover attempt. A killer bee uses defensive strategies to keep an ...
  6. Sin Tax

    A state-sponsored tax that is added to products or services that are seen as vices, such as alcohol, tobacco and gambling. ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!