Governmental and central bank actions in the form of price liberalisation, commercial legislation, agriculture reformation, assets privatisation, and the opening up of the market to external trade, finally led to Kyrgyzstan overcoming the massive inflation and unemployment that plagued both periods up till 1996.
In 2008 the first two series of notes were withdrawn from circulation while the first issue of coins began, due to the need for ease of transaction of small change.
[6] The overall objective of the activity of the National Bank of the Kyrgyz Republic is to achieve and maintain stability of prices by means of implementing an appropriate monetary policy.
The central bank independently manages and engages in its activity irrespective of governmental authorities action to perform its assigned tasks efficiently.
The National Bank of the Kyrgyz Republic performs the following basic functions: In September 2024 it has been reported that the National Bank of Kyrgyz Republic plans to introduce new measures that will improve the security and protection of clients, such as effective anti-fraud systems, that will help detect suspicious transactions and prevent fraud.
A quantitative target of the monetary policy as set out by the bank is the maintaining of inflation rate within the range of 5-7 percent in the medium-term period.
In the event of internal macroeconomic instability due to the small and open economy of the Kyrgyz Republic, monetary policy measures will be focused on returning inflation rate to the quantitative target.
The central bank also develops policies to promote financial inclusion which targets the rural parts of the country as the economy there is still largely agricultural based.
These come in the form of published press-releases and press-conferences, which are held within two working days after each meeting, and will clarify on the reasons for the decisions made on the policy rate.
Since then the central bank has issued many other commemorative coins depicting various aspects of Kyrgyzstan life as well as international events.
In 1999, the central bank began an informational and educational campaign for the general public known as "Som- the face of Kyrgyzstan".
The goal of the campaign was to attract the attention of the public to the usage of the national currency and many posters and booklets were distributed as a result.
The Elcard (Элкарт) was introduced as a national payment system and POS terminals (POS-терминалдарды) were actively promoted and incorporated into businesses around the country to allow for its use.
Additionally in 2017, a road map for the integration of Elcard with Mir, the Russian national payment system, was signed.