Kyrgyz som explained

Kyrgyz som
Local Name1:	Кыргыз сому
Local Name Lang1:	ky
Image 1:	100 som 2016 ob.jpg
Image Title 1:	100 som note (2016)
Iso Code:	KGS
Date Of Introduction:	10 May 1993
Using Countries:	Kyrgyzstan
Inflation Rate:	7.3% (December 2023)
Subunit Name 1:	tyiyn
Unit:	сом (Cyrillic) / som (Latin)
No Plural:	Y
Symbol:	⃀
Frequently Used Coins:	1, 3, 5, 10 som
Rarely Used Coins:	1, 10, 50 tyiyn
Frequently Used Banknotes:	20, 50, 100, 200, 500, 1,000 som
Rarely Used Banknotes:	1, 10, 50 tyiyn, 1, 5, 10, 2,000, 5,000 som
Issuing Authority:	National Bank of the Kyrgyz Republic

The som (Kyrgyz: сом; ISO code: KGS; sign: ⃀ ()) is the currency of Kyrgyzstan.

Etymology

See main article: Soum (currency).

The official name of the Soviet currency in Kazakh, Kyrgyz, Tajik, and Uzbek was soum, and this name appeared written on the back of banknotes, among the texts for the value of the note in all 15 official languages of the USSR. The word som (alternatively transliterated "soum" or "sum") means "pure" in Kazakh, Kyrgyz, Uyghur and Uzbek, as well as in many other Turkic languages. The word implies "pure" silver or gold and thus is similar in etymology to sterling.

Currency symbol

The National Bank of the Kyrgyz Republic approved an underlined С (es) as the official currency symbol for the som in February 2017.^[1] It is represented in Unicode as .^[2]

History

After the collapse of the Soviet Union attempts were made by most republics to maintain a common currency. Certain politicians were hoping to at the very least maintain "special relations" among former Soviet republics, or the "near abroad". Another reason were the economic considerations for maintaining the rouble zone. The wish to preserve the strong trade relations between former Soviet republics was considered the most important goal.^[3]

The break-up of the Soviet Union was not accompanied by any formal changes in monetary arrangements. The Central Bank of Russia was authorized to take over the State Bank of the USSR (Gosbank) on 1 January 1992. It continued to ship Soviet notes and coins to the central banks of the fourteen newly independent countries, which had formerly been the main branches of Gosbank in the republics.The political situation, however, was not favourable for maintaining a common currency. Maintaining a common currency requires a strong political consensus in respect to monetary and fiscal targets, a common institution in charge of implementing these targets, and some minimum of common legislation (concerning the banking and foreign exchange regulations). These conditions were far from being met amidst the turbulent economic and political situation.

During the first half of 1992, a monetary union with 15 independent states all using the rouble existed. Since it was clear that the situation would not last, each of them was using its position as "free-riders" to issue huge amounts of money in the form of credit.^[4] As a result, some countries were issuing coupons in order to "protect" their markets from buyers from other states. The Russian central bank responded in July 1992 by setting up restrictions to the flow of credit between Russia and other states. The final collapse of the rouble zone began when Russia pulled out with the exchange of banknotes by the Central Bank of Russia on Russian territory at the end of July 1993.

The Kyrgyz som was introduced on 10 May 1993, replacing the Soviet currency at a rate of 1 som = Rbls 200. Initially only banknotes were issued, coins were not introduced until 2008.

Coins

Circulation coins were first introduced in January 2008, making Kyrgyzstan second to last of the former Soviet republics to issue them. Belarus became the last. This move came with growing demand from vendors for coins, especially from slot machine industries and those desiring a more efficient system for collecting fare money.

The coins were issued in denominations of 10 and 50 tiyin and 1, 3, and 5 som. A 10 som coin was issued a year later in 2009.

All coins are minted by the Kazakhstan mint in Ust-Kamenogorsk and bear some resemblance to coins of the Russian Federation.

Coins of the som (2008–present)^[5]
Image	Value	Technical parameters			Description			Date of
Image	Value	Diameter	Mass	Composition	Edge	Obverse	Reverse	minting	issue	withdrawal	lapse
	1 tyin	14 mm	1.0 g	Brass-plated steel	Milled	flower (гүл/ gul)	Emblem of Kyrgyzstan, country name, year	2008	1 January 2008	Current, but not issued for general circulation
	10 tyin	15 mm	1.3 g							Current
	50 tyin	17 mm	1.8 g							Current
	1 som	19 mm	2.5g		Milled	leather bottle, the "kookor" with symbol of a "tumar" represented by a triangle.	Emblem of Kyrgyzstan, country name, year	2008	1 January 2008	Current
	3 som	21 mm	3.2 g
	5 som	23 mm	4.2 g
	10 som	24.5 mm	5.4 g					2009	1 December 2009
	10 som	24.5 mm	5.4 g		Lettering "Он сом", five-pointed star, «10 СОМ»			2009	1 September 2014

Commemorative coins

See also: Kyrgyz Republic commemorative currency. There are several commemorative non circulation coins struck in silver and gold, and a special collector's 1 tyiyn piece struck in brass.Starting in 1995, the National Bank of the Kyrgyz Republic has issued a large number of commemorative coins intended for collectors. They are not used in everyday circulation.

Banknotes

On 10 May 1993, the government issued 1, 10, and 50 tyiyn notes and the Kyrgyzstan Bank issued notes for 1, 5, and 20 som. In 1994, the Kyrgyz Bank issued a second series of notes in denominations of 1, 5, 10, 20, 50, and 100 som. A third series followed from 1997 onwards in denominations of 1, 5, 10, 20, 50, 100, 200, 500, and 1,000 som. A fourth series was issued in 2009 and 2010 in denominations of 20, 50, 100, 200, 500, 1,000, and 5,000 som. Several commemorative banknotes intended for collectors were also issued.^[5]

First series (1993)

Notes valued 1 and 10 tyiyin with serial numbers KT and ZT were issued in 1999. 50 tyiyins notes with serial numbers KT and ZT were issued in 2001. All others in 1993.

Notes of the first series were designed by Dmitry Lysogorov^[6] and A. P. Tsygank.They were printed by De La Rue in Great Britain.

Notes valued 1, 10, and 50 tyiyin stayed in use until coins were introduced in January 2008. Banknotes of 1, 5, and 20 som of the first series were gradually withdrawn from circulation and replaced with banknotes of the second series starting in 1994.

First series (1993)^[7]
Image		Value	Dimensions	Description			Date of
Obverse	Reverse	Value	Dimensions	Obverse	Reverse	Watermark	Printing	Issue	Withdrawal	Lapse
		1 tyiyn	90×70 mm	Value, Kyrgyz eagle	Value, Emblem of Kyrgyzstan	Repeating eagle (1993 issue). Mushroom shaped ornament (1999 and 2001 issue).	No date	10 May 1993	Current, but no longer issued and rarely seen in circulation.
		10 tyiyn
		50 tyiyn
		1 som	140×70 mm	Value, Manas	Value, Manas Ordo	Repeating eagle
		5 som
		20 som

Second series (1994–1995)

The second series of banknotes followed in 1994-1995 when "the banknotes of the stabilization period" were issued.^[5] These banknotes had a better counterfeit protection than the banknotes of the first series.

Second series (1994–1995)
Image		Value	Dimensions	Description			Date of
Obverse	Reverse	Value	Dimensions	Obverse	Reverse	Watermark	printing	issue	withdrawal	lapse
		1 som	135 х 65 mm	Abdylas Maldybaev	Komuz, kylkyak, Bishkek Philharmonic Orchestra	Toktogul Satylganov	No date	11 April 1994	Current, but no longer issued and rarely seen in circulation.
		5 som		Bubusara Beyshenalieva	Kyrgyz National Opera			11 April 1994
		10 som		Kasym Tynystanov	Mountain ranges of Kyrgyzstan and the Dzhety-Oguz tract			28 January 1994
		20 som		Togolok Moldo	Manas Mausoleum			11 April 1994
		50 som		Kurmanjan Datka	Uzgen architectural complex of the 11-12th centuries			29 August 1994
		100 som		Toktogul Satylganov	Toktogul Hydroelectric Power Station			20 March 1995

Third series (1997–2005)

Starting in 1997, a new series of banknotes was introduced with similar themes, but enhanced design, compared to the previous series.

In January 2008 coins of 1 and 5 som and in December 2009 coins of 10 som were introduced. As a result, production of banknotes of these values ceased. The banknotes were however not removed from circulation, but are instead being phased out. In January 2008 the Kyrgyz National Bank estimated that within 2 years the 1 and 5 som banknotes would have almost completely disappeared from circulation.^[8]

Third series (1997–2005)
Image		Value	Dimensions	Description			Date of
Obverse	Reverse	Value	Dimensions	Obverse	Reverse	Watermark	printing	issue	withdrawal	lapse
		1 som	120 × 60 mm	Abdylas Maldybaev	Komuz, kylkyak, Bishkek Philharmonic Orchestra	As portrait	1999	7 February 2000	Current. But no longer issued.
		5 som	135 х 65 mm	Bubusara Beyshenalieva	Kyrgyz National Opera		1997	17 December 1997
		10 som		Kasym Tynystanov	Mountain ranges of Kyrgyzstan and the Dzhety-Oguz tract		1997	17 December 1997
		20 som		Togolok Moldo	Manas Mausoleum	As portrait, and value	2002	15 August 2002
		50 som	145 × 70 mm	Kurmanjan Datka	Uzgen architectural complex of the 11-12th centuries
		100 som	150 × 72 mm	Toktogul Satylganov	Khan Tengri
		200 som	155 × 74 mm	Alykul Osmonov	Lake Issyk Kul		2000	28 August 2000
		200 som	155 × 74 mm	Alykul Osmonov	Lake Issyk Kul		2004	2 August 2004
		500 som	160 × 76 mm	Sayakbay Karalaev	Sayakbay Karalaev and images from the Manas (epic)		2000	28 August 2000
		500 som	160 × 76 mm	Sayakbay Karalaev	Sayakbay Karalaev and images from the Manas (epic)		2005	1 November 2005
		1,000 som	165 × 78 mm	Jusup Balasagyn	Takhti Sulaiman, Mount Sulaiman		2000	28 August 2000

Fourth series (2009–2016)

In 2009 the National Bank of the Kyrgyz Republic issued a 5,000 som note. Later new editions for 20, 50, and 100 som denominations followed. Among other things, these notes have enhanced security features compared to the previous series.

Fourth series (2009–2016)
Image		Value	Dimensions	Description			Date of
Obverse	Reverse	Value	Dimensions	Obverse	Reverse	Watermark	Printing	Issue	Withdrawal	Lapse
		20 som	120 × 58 mm	Togolok Moldo	Tash Rabat	As portrait	2009	1 July 2009	current
		20 som	120 × 58 mm	Togolok Moldo	Tash Rabat		2016	20 December 2018
		50 som	126 × 61 mm	Kurmanjan Datka	Minaret and mausoleum		2009	1 July 2009
		50 som	126 × 61 mm	Kurmanjan Datka	Minaret and mausoleum		2016	1 March 2017
		100 som	132 × 63 mm	Toktogul Satylganov	Toktogul Hydroelectric Power Station		2009	1 July 2009
		100 som	132 × 63 mm	Toktogul Satylganov	Toktogul Hydroelectric Power Station		2016	1 March 2017
		200 som	138 × 66 mm	Alykul Osmonov	Lake Issyk-Kul		2010	1 December 2010
		200 som	138 × 66 mm	Alykul Osmonov	Lake Issyk-Kul		2016	1 January 2017
		500 som	144 × 68 mm	Sayakbay Karalaev	Manas Mausoleum		2010	1 December 2010
		500 som	144 × 68 mm	Sayakbay Karalaev	Manas Mausoleum		2016	1 January 2017
		1,000 som	150 × 71 mm	Jusup Balasagyn	Takhti Sulaiman, Mount Sulaiman		2010	1 December 2010
		1,000 som	150 × 71 mm	Jusup Balasagyn	Takhti Sulaiman, Mount Sulaiman		2016	1 January 2017
		5,000 som	156 × 73 mm	Suimenkul Chokmorov	Ala-Too Square		2009	2 March 2009
		5,000 som	156 × 73 mm	Suimenkul Chokmorov	Ala-Too Square		2016	20 December 2018

Fifth series (2023)

Fifth series (2023)
Image		Value	Dimensions	Description			Date of
Obverse	Reverse	Value	Dimensions	Obverse	Reverse	Watermark	Printing	Issue	Withdrawal	Lapse
		20 som	120 × 58 mm	Togolok Moldo	Tash Rabat	Togolok Moldo	2023	15 February 2024	current
		50 som	126 × 61 mm	Kurmanjan Datka	Minaret and mausoleum	Kurmanjan Datka
		100 som	132 × 63 mm	Toktogul Satylganov	Toktogul Dam	Toktogul Satylganov
		200 som	138 × 66 mm	Alykul Osmonov	Lake Issyk-Kul	Alykul Osmonov		10 May 2023
		500 som	144 × 68 mm	Sayakbay Karalaev	Manas Mausoleum	Sayakbay Karalaev
		1,000 som	150 × 71 mm	Jusup Balasagyn	Takhti Sulaiman	Jusup Balasagyn
		5,000 som	156 x 73 mm	Suimenkul Chokmorov	Ala-Too	Suimenkul Chokmorov		10 May 2024

Commemorative banknotes

In October 2014 banknotes commemorating the 150th birthdate of Toktogul Satylganov and the 100th birthdate of Alykul Osmonov were issued for sale to collectors. Only 3,000 of each were printed.

A commemorative 2,000 som banknote in honor of the 25th anniversary of independence and the introduction of the som was issued in November 2017.^[9]

Commemorative banknotes^[10]
Image		Value	Dimensions	Description			Date of
Obverse	Reverse	Value	Dimensions	Obverse	Reverse	Watermark	Printing	Issue	Withdrawal	Lapse
		100 som	132 × 63 mm	Toktogul Satylganov	Toktogul Hydroelectric Power Station	Toktogul Satylganov	2009	20 October 2014	current
		200 som	138 × 66 mm	Alykul Osmonov	Lake Issyk-Kul	Toktogul Satylganov	2009	20 October 2014
		2,000 som	156 × 73 mm	Monument of Manas, a stylised yurt, symbol of "Umai Ene" in the background	Stylised tree, Khan Tengri mountain, eagle flying over lake Issyk-Kul	Toktogul Satylganov	2017	17 November 2017

External links

Biographies of the figures depicted on Kyrgyz bank notes from the Spektator magazine

Notes and References

10 February 2017, Bishkek - 24.kg news agency: KGS gets own currency symbol
https://www.unicode.org/charts/PDF/U20A0.pdf
Odling-Smee, J. ao (2001). The IMF and the ruble area, 1991-93. Available at:http://www.imf.org/external/pubs/ft/wp/2001/wp01101.pdf
Dąbrowski, M (1995). The reasons for the collapse of the Ruble zone. Available at: http://www.case-research.eu/sites/default/files/publications/3460035_058e_0.pdf
Web site: National Bank of the Kyrgyz Republic . 2023-12-19 . www.nbkr.kg.
Web site: Interview - Dmitry Lysogorov . 2023-12-19 . lysogorov.com.
Web site: National Bank of the Kyrgyz Republic . 2023-12-19 . www.nbkr.kg.
For.kg. Бумажные банкноты в КР будут заменены на монеты в течение 2-х лет (17 January 2008). Available at: http://www.for.kg/ru/news/54908/
Web site: Национальный банк Кыргызской Республики . 2023-12-19 . www.nbkr.kg.
Web site: Национальный банк Кыргызской Республики . 2023-12-19 . www.nbkr.kg.