Rules for Determining Official Exchange Rates of Foreign Currencies Against the Kyrgyz Som by the National Bank of the Kyrgyz Republic

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Date of Creation: 2026-06-17

APPROVED by the Resolution of the Board of the National Bank of the Kyrgyz Republic No. 10\15 dated March 28, 2013

Rules for Determining Official Exchange Rates of Foreign Currencies Against the Kyrgyz Som by the National Bank of the Kyrgyz Republic

(As amended by the Resolutions of the Board of the National Bank of the Kyrgyz Republic dated November 27, 2013 No. 45/14; October 30, 2014 No. 47/7; November 25, 2015 No. 71/6; May 25, 2016 No. 20/3; April 26, 2017 No. 17/3; December 14, 2022 No. 2022-P-09/78-14-(NPA); May 15, 2024 No. 2024-P-09/22-2-(BS); August 7, 2024 No. 2024-P-09/34-1-(BS); February 18, 2026 No. 2026-P-09/10-4-(BS); June 10, 2026 No. 2026-P-09/34-3-(BS))

1. General Provisions

2. These Rules for Determining Official Exchange Rates of Foreign Currencies Against the Kyrgyz Som by the National Bank of the Kyrgyz Republic (hereinafter - "the Rules") establish the procedure for determining by the National Bank of the Kyrgyz Republic (hereinafter - "the National Bank") official exchange rates of foreign currencies against the Kyrgyz som (hereinafter - "som") and the rules for their announcement.

3. The National Bank determines official exchange rates of foreign currencies against the som in accordance with the Constitutional Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic".

(As amended by Resolution No. 2022-P-09/78-14 dated December 14, 2022)

3. Official exchange rates of foreign currencies determined by the National Bank reflect prices of foreign currency units expressed in units of the national currency of the Kyrgyz Republic.

4. The National Bank determines and announces official exchange rates of foreign currencies against the som for their use in accounting and settlements, without an obligation for the National Bank to buy or sell foreign currencies at the established rates.

5. The National Bank determines official exchange rates of foreign currencies against the som:

• on a daily basis - rates for the US dollar, euro, Russian ruble, Chinese yuan Renminbi, and Kazakh tenge (Appendix 1 to these Rules);
• on a weekly basis - rates for other foreign currencies (Appendix 2 to these Rules).

6. Official exchange rates of foreign currencies against the som enter into force on the next calendar day after the calculation date and remain in effect until subsequent official exchange rates take effect.

7. The numerical value of official exchange rates of foreign currencies against the som is determined by the National Bank with a precision of four decimal places.

8. Information on official exchange rates of foreign currencies against the som is updated on the day of their determination on the National Bank's official website.

9. In the event of technical failures or other circumstances, and if information on official exchange rates/quotes for foreign currencies cannot be obtained from the Reuters Information Agency (IA "Reuters"), currency rates may be obtained from the Bloomberg Information Agency (IA "Bloomberg"). If data cannot be obtained from the aforementioned sources, values for official exchange rates/quotes are determined as the values of the last valid official exchange rates/quotes for the respective currencies.

10. In the event of force majeure circumstances preventing the calculation and determination of official currency rates against the som, values for official foreign currency rates against the som are determined as the values of the last valid official exchange rates for the respective currencies and remain in effect until subsequent official exchange rates take effect.

11. Definitions and Terms

12. Automated Trading System of the National Bank of the Kyrgyz Republic (hereinafter - "ATS") – a software-hardware complex of the National Bank designed to automate financial market operations in the Kyrgyz Republic.

13. Cross-rate – the rate of one currency to another, calculated through their rates against the US dollar.

14. Information Agencies "Reuters"/"Bloomberg" (IA "Reuters"/IA "Bloomberg") - international information-trading systems that provide real-time foreign currency quotes on global forex markets.

15. US Dollar calculation period - the time period from 15:00 (Bishkek time throughout) of the previous trading day to 15:00 of the current trading day, during which the weighted average US dollar rate against the som is calculated.

16. Technical failure - the inability to calculate official foreign currency rates against the som for a certain period due to technical disruptions in the normal operating mode of the ATS.

17. Trading day - an official working day in the Kyrgyz Republic on which operations are conducted in the ATS. Typically, trading days are working days from Monday to Friday.

18. Force majeure - circumstances of force (natural and technological disasters, natural calamities, military conflicts, strikes, etc.) that directly caused the inability to calculate official foreign currency rates against the som.

19. Procedure for Calculating Daily Official Exchange Rates

20. Official rates for the US dollar, euro, Russian ruble, Chinese yuan Renminbi, and Kazakh tenge against the som are determined daily on trading days from 15:00 to 15:30.

21. The official US dollar rate against the som is calculated as the weighted average rate of US dollar buy-sell transactions concluded in the forex market through the ATS during the calculation period, using the following formula:

[Formula], where K is the official US dollar rate; K1,2, ..., n are transaction rates from 1 to n; Q1,2, ..., n are transaction volumes from 1 to n.

20. If no transactions are concluded during the calculation period, the value of the official US dollar rate against the som is determined as the value of the last valid official rate.

21. The official rates for the euro and Chinese yuan Renminbi against the som are calculated via cross-rate based on the quotes for the euro and Chinese yuan Renminbi against the US dollar fixed in IA "Reuters"/IA "Bloomberg" at 15:00 on international forex markets and the official US dollar rate against the som determined that day.

22. The official rates for the Russian ruble and Kazakh tenge against the som are calculated via cross-rate based on weighted average values published by the Moscow Interbank Currency Exchange and the Kazakhstan Stock Exchange, respectively, at the moment of determining the official US dollar rate against the som by the National Bank.

(As amended by Resolution No. 20/3 dated May 25, 2017)

4. Procedure for Calculating Weekly Official Exchange Rates

5. Official exchange rates of foreign currencies against the som, excluding the US dollar, euro, Russian ruble, Chinese yuan Renminbi, and Kazakh tenge, are determined weekly on trading days, typically on Fridays from 15:00 to 15:30.

6. Official exchange rates of foreign currencies against the som, excluding currencies of CIS countries without active forex markets and Special Drawing Rights (hereinafter - "SDR"), are calculated via cross-rate based on the official US dollar rate against the som determined that day and quotes for these currencies against the US dollar on international forex markets, fixed in IA "Reuters"/IA "Bloomberg" at 15:00 on the day of rate determination.

7. Official exchange rates of CIS currencies against the som, without active forex markets, are calculated via cross-rate based on the official US dollar rate against the som determined that day and the latest values of CIS currency rates against the US dollar established by central banks and published on the respective central bank websites.

8. The official SDR rate against the som is calculated via cross-rate based on the official US dollar rate against the som determined that day and the latest SDR rate against the US dollar established by the International Monetary Fund.

9. Amendments and Additions

10. Amendments and additions to these Rules may be made by the National Bank to improve the process of determining, calculating, and announcing official foreign currency exchange rates against the som. The National Bank reserves the right to amend the list of foreign currencies for which official rates against the som are determined.

Appendix 1
to the Rules for Determining Official Exchange Rates of Foreign Currencies Against the Kyrgyz Som by the National Bank of the Kyrgyz Republic No. 10\15 dated March 28, 2013

List of Foreign Currencies for Which Official Exchange Rates Against the Kyrgyz Som are Determined by the National Bank on a Daily Basis

1. US Dollar
2. Euro
3. Russian Ruble
4. Kazakh Tenge
5. Chinese Yuan Renminbi

Appendix 2
to the Rules for Determining Official Exchange Rates of Foreign Currencies Against the Kyrgyz Som by the National Bank of the Kyrgyz Republic No. 10\15 dated March 28, 2013

List of Foreign Currencies for Which Official Exchange Rates Against the Kyrgyz Som are Determined by the National Bank on a Weekly Basis

1. Australian Dollar
2. Azerbaijani Manat
3. British Pound Sterling
4. Armenian Dram
5. Afghan Afghani
6. Belarusian Ruble
7. (Ceased to be in force per Resolution No. 2026-P-09/10-4-(BS) dated February 18, 2026)
8. Brazilian Real
9. Hungarian Forint
10. South Korean Won
11. Georgian Lari
12. Danish Krone
13. UAE Dirham
14. Indian Rupee
15. Iranian Rial
16. Canadian Dollar
17. (Excluded per Resolution No. 2024-P-09/34-1-(BS) dated August 7, 2024)
18. Kuwaiti Dinar
19. (Excluded per Resolution No. 45/14 dated November 27, 2013)