About the AUD/KGS rate
The AUD/KGS rate is how many KGS one Australian dollar buys. It moves constantly with interest-rate expectations, commodity prices and global risk sentiment - see what moves the rate. Tradergy shows the mid-market reference rate and does not forecast where it’s heading. For the 52-week highs and lows and a daily table, see the AUD/KGS rate history.
Reading the same rate from the other side: the reverse rate, KGS → AUD, is on the receiving Kyrgyzstani som view, and sending Australian dollars to Kyrgyzstan is covered on the AUD → KGS transfer page. Every AUD pair sits on the convert hub, and to work in more than one currency at once there is the currency converter.
The metal underneath the export figures
The National Statistical Committee of the Kyrgyz Republic put gold at 34.6 per cent of total merchandise exports for January to November 2023. No other product on the list approaches that share, so a third of the foreign currency the country earns from selling goods arrives from one metal.
A concentration of that kind decides what the som's terms of trade respond to. When a third of export earnings move with one commodity, the price of that commodity is a larger influence on the country's external position than the composition of everything else it sells put together, and it is an influence over which no Kyrgyz institution has any control.
The concentration is narrower still than the metal, because most of that gold comes from one mine. Kumtor Gold Company's own published history records the deposit developed under a master agreement signed in Toronto on 4 December 1992, commercial production from 1997, and the operating company passing through Canadian ownership until 2022.
Who collects the earnings changed in that year, and the terms are in a regulatory filing. Centerra Gold's Form 6-K, filed with the United States Securities and Exchange Commission, sets out the Global Arrangement Agreement of 4 April 2022: the Kyrgyz Republic took full ownership of the mine and its operating companies, the state holding company Kyrgyzaltyn relinquished its shareholding in Centerra, and the litigation between them was terminated with no admission of liability on either side. The largest single source of the country's export earnings is now owned by the state whose currency those earnings support.
Sources: 24.kg, reporting National Statistical Committee of the Kyrgyz Republic trade data · Kumtor Gold Company, history of the deposit · Centerra Gold Inc., Form 6-K filed with the United States Securities and Exchange Commission