Kazakhstani Tenge Currency | Kazakhstan Tenge Notes

Kazakhstani Tenge

Kazakhstani Tenge Currency:

The official currency of Kazakhstan is Tenge which is represented by the symbol ₸. It is further subdivided into one hundred equal parts called tiyin. Kazakhstan was a part of the former Union of Soviet Socialist Republics (USSR). After the disintegration of USSR in the earlier 1990s, the independent fragment republics tried to maintain common currency for some time. Since the collapse of the gigantic USSR did not accompany any formal monetary arrangements to the newly formed independent republics, the Central Bank of Russia was authorized to take over the State Bank of USSR (Gosbank) on January 1, 1992. The Central Bank transported the banknotes like earlier to its branches in the fourteen new independent countries. However, the practice could not continue for long time due to inter-state difference in fiscal and financial affairs and lack of political consensus. At the end of 1993, the withdrawal of exchange of banknotes with the countries by the Central Bank resulted in disavowal from the ruble zone.

In November 1993, Kazakhstan introduced its own currency the Tenge to replace Russian ruble at a rate of one tenge equivalent to 500 rubles. The banknotes in circulation are 200, 500, 1000, 2000, 5000, 10000 and 20000 tenge. The frequently used coins are of the denominations 1, 2, 5, 10, 20, 50 and 100 tenge.

Kazakhstani Tenge

Kazakhstani Tenge (Kazakhstan):

Code: KZT

Symbol:

Subunit        

1/100= tïın (тиын)

Banknotes:  

200, 500, 1,000, 2,000, 5,000, 10,000, 20,000 tenge

Coins:

1, 2, 5, 10, 20, 50, 100 tenge

Central bank:

National Bank of Kazakhstan

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