Kyrgyzstan Som (KGS)
19 hours agoThe Kyrgyzstan Som is the official currency of Kyrgyzstan, a landlocked nation situated in Central Asia. It was introduced in 1993, replacing the Soviet Ruble at a conversion rate of 1 Som for 200 Rubles. The National Bank of the Kyrgyz Republic is tasked with the issuance and management of the Kyrgyzstan Som.
The Kyrgyzstan Som functions under a managed floating exchange rate system, where its value against other currencies is influenced by market dynamics, such as supply and demand. The National Bank of the Kyrgyz Republic may intervene in the foreign exchange market when necessary to ensure stability or to prevent significant fluctuations. This system enables the Kyrgyzstan Som to adapt to external shocks and shifts in global market conditions while maintaining a degree of stability.
The Kyrgyzstan Som is divided into 100 smaller units known as tyiyn. Coins are available in denominations of 1, 3, 5, and 10 Som, as well as 10, 50, and 100 tyiyn. Banknotes are issued in denominations of 1, 5, 10, 20, 50, 100, 200, 500, 1,000, and 5,000 Som.
Kyrgyzstan’s economy is mainly reliant on agriculture, mining, and services. Agriculture, especially the cultivation of grains, fruits, vegetables, and livestock, plays a vital role and provides jobs for a large segment of the population. The mining sector, which includes gold and other minerals, is also essential to the economy and contributes significantly to the country’s exports. The services industry, particularly tourism, has seen growth in recent years, drawing visitors to Kyrgyzstan’s natural landscapes and cultural heritage.
However, Kyrgyzstan faces several economic challenges, including high poverty rates, a substantial informal sector, insufficient infrastructure, and susceptibility to global market fluctuations. The government is actively pursuing policies aimed at fostering economic growth, attracting foreign investment, and addressing social issues such as income inequality and unemployment.
In conclusion, the Kyrgyzstan Som is the official currency of Kyrgyzstan, managed by the National Bank of the Kyrgyz Republic. It operates under a managed floating exchange rate system, with its value shaped by market forces and potential interventions from the Bank. The currency is subdivided into tyiyn and is available in various banknote and coin denominations. Kyrgyzstan’s economy is primarily based on agriculture, mining, and services, but the country contends with challenges related to poverty, inadequate infrastructure, and vulnerability to fluctuations in global markets.
Recommendation
Kansas City Manufacturing Survey
The Kansas City Manufacturing Survey, carried out by the Federal Reserve Bank of Kansas City, serves as an economic indicator that evaluates the performance of the manufacturing sector within the Tenth Federal Reserve District. This area includes Kansas, Colorado, Nebraska, Oklahoma, Wyoming, the western third of Missouri, and the northern half of New Mexico. The survey offers essential insights into the health and growth potential of the manufacturing sector in the Tenth District, making it an important resource for economists, policymakers, and investors.
Kathy Lien
Kathy Lien is a specialist in global currencies, an author, and the Managing Director of BK Asset Management.
Kazakstan Tenge (KZT)
The Kazakhstan Tenge (KZT) serves as the official currency of Kazakhstan, a nation located in Central Asia. It was introduced on November 15, 1993, to replace the Soviet Ruble, following Kazakhstan's independence from the Soviet Union in 1991. The National Bank of Kazakhstan is tasked with the issuance and management of the Tenge.
Keep the Powder Dry
The expression “keep the powder dry” pertains to the strategy of avoiding trades in adverse market conditions.
Keltner Channel
The Keltner Channel, commonly referred to as KC, is a technical analysis tool that consists of bands based on volatility, situated above and below a moving average. These bands are typically set at two Average True Range (ATR) values above and below a central line, which is usually a 20-period Exponential Moving Average (EMA). The Keltner Channel is used to signal potential price breakouts and to offer insights into overbought and oversold conditions. This indicator is similar to Bollinger Bands (BB), but instead of using Standard Deviation (SD) to determine the distance of the bands from the moving average, it employs the Average True Range (ATR). Keltner Channels (KC) are categorized as an envelope indicator, similar to Bollinger Bands (BB) and Moving Average Envelopes (MAE). Envelopes are technical indicators that are typically overlaid on price charts, featuring upper and lower bounds. The original concept of the Keltner Channels was introduced by Chester Keltner in his 1960 book, "How to Make Money in Commodities." His ideas were later refined and simplified by Linda Bradford Raschke, a trader and Market Wizard, who popularized the use of an exponential moving average (EMA) for the Middle Line and the Average True Range (ATR) for the Upper and Lower Envelopes.
Kenyan Shilling (KES)
The Kenyan Shilling (KES) serves as the official currency of Kenya, a nation located in East Africa. It was introduced in 1966, replacing the East African Shilling at par, following Kenya’s independence from British colonial rule in 1963. The Central Bank of Kenya is tasked with the issuance and management of the Kenyan Shilling.