Currency Exchange Rates for Kyrgyzstani som? Convert GBP to KGS at todays exchange rate. See money transfer for Kyrgyzstan and historical to restrictions.
Compare Money Transfer Currencies Section. Nicknames for That Currency If Any
The Kyrgyzstani Som is the name given to the currency of Kyrgyzstan. Mainly abbreviated as KGS. The Kyrgyzstani some is used to purchase goods and payment of services in Kyrgyzstan so far. The bank is given the responsibility to control and regulate the KGS in the Kyrgyzstan.
Name of Central Bank
The National-Bank of the Kyrgyz-Republic is the name given to the central-bank of Kyrgyzstan. The bank is given the responsibility to control and regulate the KGS in the Kyrgyzstan. Conducts all the foreign exchange activities that enter and leaves the country so far.
Consumer prices have risen to 4.1 percent in Kyrgyzstan. The inflation rate was recorded in June 2017. Economists argue it is the highest rate recorded in the last decade. Prices of transport, beverages, footwear, and hotels have been on the rise. Only housing prices fell. Inflation rates in this country have averaged 7.68 percent from 2003 to 2017 so far.
Use of Currency outside the Country
The National-Bank of the Kyrgyz-Republic highly prohibits the use of the Kyrgyzstani Som outside the country. This is because the currency is weak compared to other currencies in Asia so far.
Exchanging Currency In the country
In Kyrgyzstan, the exchange rate is currently at 1USD is equivalent to 68.6389KGS which is not stable. Meaning it fluctuates very often.
Converting from GBP pounds to (currency)
Exchange of the currency GBP TO KGS currently stands at 1GBP=90.1427KGS.
What does GBP to (currency) mean?
GBP means Great Britain pound.
What is the sign for the (currency)?
The sign of the currency is kgs Symbol:
Is (currency) stable or undervalued? And what is the cause?
The currency is stable against other currencies so far. This is attributed to the low inflation rate in the country.
What are the main currencies in use and why?
KGS is the main currency used in Kyrgyzstan.
Currency Information on Kyrgyzstani Som - KGS — Kyrgyzstani som – som
Banknotes are available in denominations of 1, 10and 50 tyiyn, which are rarely used, and 1, 5, and 10 som, which are also not used frequently. Frequently used denominations are 20, 50, 100, 200, 500, 1000 and 5000 Som.
Coins were not introduced until 2008, making Kyrgyzstani that last Soviet Union state to do so.
Coins currently in circulation are available in denominations of 1, 3, 5 and 10 som, as well as the rarely used 1, 10 and 50 tyiyn.
Divided into 100 tyiyn, the som was first introduced in 1993, when it replaced the soviet ruble at a ratio of 200 rubles = 1 Som.
We are an international business and work with companies around the world, especially California in the US and Australia. Our providers are based in different countries so we need to be constantly up to date about the current foreign exchange rates. Otherwise, we would be wasting money during the currency transfer process and obviously this is not what a business wants.
Comment written by Victoria Brown Wine Industry.
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