AED to KGS

AED - United Arab Emirates Dirham (د.إ)

The United Arab Emirates dirham is the currency of the United Arab Emirates. The dirham is abbreviated by the currency code AED, and its symbol is د.إ. Unofficial abbreviations include ‘Dhs’ and ‘DH’. The most popular AED exchange is with Indian rupees (INR to AED). The dirham is a fiat currency, and its conversion factor has 6 significant digits.

The Dirham (AED) is the currency of the United Arab Emirates. 1 Dirham = 100 fils. Exchange can be done at a bank, but is less costly at an exchange office. The United Arab Emirates Dirham was pegged to the IMF’s drawing rights in 1978. In 1997 the Dirham was pegged to the US Dollar at 1 USD = 3.6725 dirham.

The United Arab Emirates Dirham is the currency in United Arab Emirates (AE, ARE, UAE). The symbol for AED can be written Dh, and Dhs. The United Arab Emirates Dirham is divided into 100 fils. The exchange rate for the United Arab Emirates Dirham was last updated on Today from The International Monetary Fund. The AED conversion factor has 6 significant digits.

Economy

• The United Arab Emirates is ranked second in the Corporation Council for the Arab States of the Gulf (CCASG).
• Natural gas and petroleum exports play an important role in the economy.
• The service sector is also an important source of income.
• Construction forms a huge part of the economy; there is currently an average of $350 billion in construction projects.
• The United Arab Emirates is part of the World Trade Organization.
• Imports are machinery, manufactured goods, and transport equipment.
• In 2009, 85% of exports were natural resources.
• The United Arab Emirates has the fastest-growing economy in the world.

History

• The original currency in the United Arab Emirates was the Bahraini Dinar.
• Before 1966 the United Arab Emirates used the Gulf Rupee.
• The United Arab Emirates dirham started circulating in December 1971. The dirham replaced the Dubai Riyal as well as the Qatar Riyal at par.
• From 1973 to 1982 the United Arab Emirates issued the Dirham.
• In 1976 the United Arab Emirates minted commemorative coins.
• In the late 1980s a fixed rate was established between the Dirham and the USD.
• 200-dirham denominations were produced only in 1989 and are scarce; however, the 200-dirham was re-introduced in May 2008 in a different color from the original.
• In 1997 the Dirham was pegged to the US Dollar.

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KGS - Kyrgystani Som (KGS)

Kyrgystani Som

The Som is the official currency of Kyrgyzstan, a country located in central Asia, bordered by Kazakhstan to the north, Uzbekistan to the west, Tajikistan to the southwest, and China to the east. Landlocked and mountainous, its capital and largest city is Bishkek.

The Kyrgyzstani Som is the currency in Kyrgyzstan (KG, KGZ). The Kyrgyzstani Som is divided into 100 tyyn. The exchange rate for the Kyrgyzstani Som was last updated on May 24, 2019 from Yahoo Finance. The KGS conversion factor has 5 significant digits.

Economy

• Kyrgyzstan was the second poorest country in the former Soviet Union, and is today the second poorest country in central Asia.
• Despite the backing of major Western lenders, including the International Monetary Fund (IMF), the World Bank, and the Asian Development Bank, Kyrgyzstan has had economic difficulties since independence. Initially, these were a result of the breakup of the Soviet trading bloc and resulting loss of markets, which impeded the republic's transition to a demand economy.
• The main exports are nonferrous metals and minerals, wool and other agricultural products, electricity and certain engineering goods.
• Imports are oil and natural gas, nonferrous metals, chemicals, most machinery products, wood and paper, some food, and some building materials.
• Kyrgyzstan’s main trading partners are Germany, Russia, China, Kazakhstan, and Uzbekistan.

History

• In 1993, the government issued notes of 1, 10, and 50 tyiyn and the Bank of Kyrgyzstan issued stock certificates for 1, 5, and 20 som.
• In 1994, the Bank of Kyrgyzstan issued a second series of banknotes in denominations of 1, 5, 10, 20, 50, and 100 som.
• In 1997, a third series followed in denominations of 1, 5, 10, 20, 50, 100, 200, 500, and 1000 som.
• In January, 2008 the first coins were issued in denominations of 10 and 50 tiyin (also spelled tyiyn and Tyin), which are made of brass-plated steel, and 1, 3, and 5 som, made of nickel-plated steel. The coins are minted in Ust-Kamenogorsk Kazakhstan.
• There are several commemorative coins of silver and gold, and special metal collector coins of 1 tiyin.
• In 2009, a nickel-plated steel 10-som coin was issued.

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