KGS information
About Kyrgystani Som (KGS)
The Kyrgyzstani Som, introduced in 1993, is more than just the official currency of Kyrgyzstan; it represents a crucial aspect of the nation's post-Soviet economic and cultural identity. It is commonly abbreviated as KGS and represented by the symbol с. The Som's introduction was a significant step in establishing Kyrgyzstan's monetary independence following the dissolution of the Soviet Union.
Historical Background
The introduction of the Kyrgyzstani Som in May 1993 was a critical event in the nation's history, marking its transition from the Soviet ruble and signifying newfound economic sovereignty. This change was not merely monetary; it symbolized the birth of a new national identity and the start of an independent economic journey.
Design and Symbolism
The design of the Kyrgyzstani Som is a rich tapestry of the country's heritage and aspirations. Banknotes and coins feature prominent historical figures, landmarks, and symbols that reflect Kyrgyzstan’s rich history, culture, and natural landscapes. These designs are a source of national pride and a tool for educating citizens and visitors about the country's legacy.
Economic Role
As Kyrgyzstan's primary medium of exchange, the Som is central to its economy. The country, characterized by its mountainous terrain, has a mixed economic system with key sectors including agriculture, mining, and a growing service sector. The Som facilitates domestic and international transactions, playing a vital role in the nation's economic activities and stability.
Monetary Policy and Inflation
Managed by the National Bank of Kyrgyzstan, the Som has faced challenges such as inflation and fluctuating exchange rates. The central bank's monetary policies aim to stabilize the currency, control inflation, and foster conditions conducive to economic growth and stability.
International Trade and the Kyrgyzstani Som
The Som’s exchange rate plays a significant role in international trade, particularly in dealings with its major trading partners, including Russia and China. A stable and competitive exchange rate is crucial for maintaining healthy trade relationships and attracting foreign investment.
Remittances and Economic Impact
Remittances from Kyrgyz citizens working abroad, especially in Russia and Kazakhstan, are a significant source of foreign income. These funds, converted into Soms, support many households and contribute to the national economy.
LPM to KGS conversion rate trend
Conversion rate comparison of various exchanges
Exchange | Price | Maker / Taker Fee | Tradable |
---|---|---|---|
BitgetBest | с135.23 | 0.0200% / 0.0320%VIP 7 |
How to buy Love Power Movement
Buy LPM (or USDT) for KGS (Kyrgystani Som) offers
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What factors influence the conversion rate of Love Power Movement to Kyrgystani Som?
Love Power Movement to Kyrgystani Som is falling this week.Conversion tables
The exchange rate of Love Power Movement is decreasing.LPM to KGS
KGS to LPM
Today vs. 24 hours ago
Amount | 13:23 today | 24 hours ago | 24h change |
---|---|---|---|
0.5 LPM | $0.9560 | $0.7585 | +26.18% |
1 LPM | $1.91 | $1.52 | +26.18% |
5 LPM | $9.56 | $7.58 | +26.18% |
10 LPM | $19.12 | $15.17 | +26.18% |
50 LPM | $95.6 | $75.85 | +26.18% |
100 LPM | $191.2 | $151.7 | +26.18% |
500 LPM | $956 | $758.5 | +26.18% |
1000 LPM | $1,912 | $1,517 | +26.18% |
Today vs. 1 month ago
Amount | 13:23 today | 1 month ago | 1M change |
---|---|---|---|
0.5 LPM | $0.9560 | $1.39 | -31.46% |
1 LPM | $1.91 | $2.79 | -31.46% |
5 LPM | $9.56 | $13.93 | -31.46% |
10 LPM | $19.12 | $27.86 | -31.46% |
50 LPM | $95.6 | $139.3 | -31.46% |
100 LPM | $191.2 | $278.6 | -31.46% |
500 LPM | $956 | $1,393 | -31.46% |
1000 LPM | $1,912 | $2,786 | -31.46% |
Today vs. 1 year ago
Amount | 13:23 today | 1 year ago | 1Y change |
---|---|---|---|
0.5 LPM | $0.9560 | $10 | -90.48% |
1 LPM | $1.91 | $20.01 | -90.48% |
5 LPM | $9.56 | $100.04 | -90.48% |
10 LPM | $19.12 | $200.08 | -90.48% |
50 LPM | $95.6 | $1,000.4 | -90.48% |
100 LPM | $191.2 | $2,000.8 | -90.48% |
500 LPM | $956 | $10,004 | -90.48% |
1000 LPM | $1,912 | $20,008 | -90.48% |
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