Som Strengthens Against Most Major Currencies Except Dollar: Exchange Rates as of May 28

The Kyrgyzstani som has demonstrated strength against most major currencies, with the notable exception of the US dollar, which has maintained its stable exchange rate for thirteen consecutive days. This stability is reflected in the official National Bank of Kyrgyzstan (NBKR) rate of 87.45 som to the dollar.

In contrast, the euro, Russian ruble, and Chinese yuan have all seen their values decline against the som. The euro's official rate fell by 0.07 percent to 101.7568 som, while the Russian ruble saw a more moderate decrease of 0.47 percent to 1.2194 som, though it remains at multi-year highs. The Chinese yuan also experienced a slight dip of 0.04 percent, reaching 12.8869 som, just shy of its historical peak.

The most dramatic depreciation was observed in the Kazakhstani tenge, which fell by 1.03 percent to an official rate of 0.1832 som, marking a new low for May 2026. This significant drop is reportedly linked to internal factors within Kazakhstan's balance of payments.

The NBKR has actively managed the currency market through interventions. In April 2026, the bank conducted its sixth intervention, selling $168 million, bringing the year-to-date sales to $893.45 million. These interventions follow similar actions in previous years, including eight interventions in 2025 that sold $853 million, and a more active 2024 with 26 operations involving both purchases and sales of dollars totaling $675.65 million and $369.35 million respectively. The bank has not conducted operations to buy dollars in 2025 or 2026.