KYRGYZSTAN

(KGS) Currency News >>

CURRENCY:

Kyrgyz Som - KGS

DENOMINATIONS:

NOTE: KGS 1,000, 500, 200, 100, 50, 20, 10, 5 and 1, and 50, 10 and 1 tyin.

COIN: N/A

US DOLLAR ACCEPTED?

Yes

CREDIT/DEBIT CARDS AND ATMS:

Most major credit cards will be accepted at larger hotels in the capital, and can in some cases be used to withdraw cash over the counter in banks. Note: CASH is the best option.

CURRENCY EXCHANGE:

Foreign currency services are available at major banks and authorised bureaux de change.

TRAVELLER'S CHEQUES:

Not recommended as they are accepted very seldom. If necessary, these are best in US dollars.

BANKING HOURS:

Usually Mon-Fri 0930-1730.

CURRENCY RESTRICTIONS:

N/A

COUNTRY OVERVIEW:

Kyrgyzstan is officially called the Kyrgyz Republic and is a country in Central Asia. The country has had much political unrest and the situation, despite many changes (including the period under Soviet rule), remains fairly unstable - assassinations of parliament members took place in 2006, all victims were allegedly involved in illegal business.

POPULATION:

Around 5 million.

ECONOMY:

The breakup of the Soviet trading system has had a negative effect on the economy of Kyrgyzstan. The country has had much backing from Western lenders such as the IMF. Main sectors include agriculture - wheat, sugar beets, potatoes, tobacco. Much of the farming is done through archaic methods such as horse and cart and by hand - this is because imports are very expensive (on products such as agrichemicals). There are many street markets and kiosks in Kyrgyzstan which are vital to the local economy.