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Kyrgyz som among leaders in \'hit parade\' of most stable currencies.

The world crisis "has paid attention" to every country in the world. Yet, some countries with less developed economies seem to have been affected by the crisis less than economically developed economies. Some analytical reviews show that less developed CIS countries have more stable exchange rates of their national currencies.According to the Russian central bank, Azerbaijani manat is the most stable currency among in the CIS region. In general, Azerbaijani manat is ranked 28th among 117 countries with their own national currencies. Throughout February Azerbaijani manat has improved its position versus the Russian ruble by 21.9%.The countries from the list of economies with stable currencies were not often mentioned in the press as successful economies. Georgia follows after Azerbaijan. These two countries expect to have GDP growth of their economies. The Uzbek sum is also in the top of the list of economies with stable currencies. Obviously, the system of a total control of economy in crisis gives some advantages and positive results, including a stable national currency as manifested by the Turkmen manat, number one in the list. The Kazakh tenge is among mostly affected currencies. Throughout January-February it dropped versus the Russian ruble by 7% and was ranked lower than US dollar and British pound.The Kyrgyz som is still among leaders of the \'hit parade\' of the most stable national currencies. Though the Kyrgyz economy on the whole and the exchange rate in particular are not controlled totally, it is unclear yet what objective or subjective factors contribute to stability of the Kyrgyz som and its ranking next to the most stable currencies of the world.Fluctuations in exchange rates of currencies versus the Russian rubleBy Nurlan Abdyshev, Business AKIpress

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Publication:AKIpress News Agency
Date:Apr 6, 2009
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