Lower-denomination banknotes — 20, 50, and 100 soms — tend to wear out within a year, while larger denominations such as 500, 1,000, and 5,000 soms can remain in circulation for up to five years. Economic expert Baktybek Shamkeev spoke about this on Birinchi Radio.
Worn-out cash is withdrawn from circulation through commercial banks and the National Bank and replaced with new banknotes, he said.
«The National Bank regulates the monetary system in this way: it prints as much money as necessary,» Baktybek Shamkeev explained.
The expert added that the country’s population is increasingly preferring cashless payments, using e-wallets and QR code payments, because it is more convenient. He acknowledged that some citizens still use cash.
According to Baktybek Shamkeev, international experts note the high level of development of digital payments in the Kyrgyz Republic.
