Kazakhstani Tenge Currency

Introduction

The currency of Kazakhstan is the Tenge. Tenge is divided into 100 subunits. This currency Kazakhstani Tenge was introduced in 1993 on November 15th in the place of the Soviet ruble @ 1 tenge = 500 rubles.

The Kazakhstani Tenge code is KZT as per ISO standards. In Kazakh and other Turkic languages, Tenge means a set of scales. Originally this word is Turkic meaning balance or being equal. This currency is identical to the peso, lira and pound. Similarly, the currency name is also related to den’gi the Russian word representing money and this was borrowed from Turkic.

History

Kazakhstan was the last countries to introduce a national currency. On November 12, 1993, a decree about introducing the national currency of Kazakhstan was issued. Following this on November 15, 1993, Kazakhstani Tenge was brought into circulation.

Hence, this day is considered to be the "Day of National Currency of Kazakhstan". Later, in 1995, a printing factory was established, but the initial Tenge consignment was printed in the U.K, while Germany minted the first coins. The graphical symbol proposed in 2008 March was for Tenge.

Configurations

The coins were in denominations 2,5,10, 20, 50 tiyn and 1, 3,5,10 as well as 20 tenge in 1993. In 1997 50 tenge was introduced and was followed in the year 2000 by 100 tenge and in the year 2005 by 2 tenge.

The current coins that are in circulation are 1,2,5 and 10 tenge in brass, 20 and 50 tenge in copper-nickel and 100 tenge in brass and copper-nickel. Investment coins are available in denominations such as 1, 2,5,10, 20, 50 and 100 tenge.

Banknotes

In 1993, the denominations were 1, 2, 5, 10, 20 and 50 tiyn and respectively 1, 3, 5, 10, 20, 50, 100 and 200 tenge. In 1994 it was followed by 500 and 1000 tenge notes. In 1996 2000 tenge notes were introduced, in 1998 5000 tenge and in 2003 10,000 tenge.

The notes in circulation are 200, 500, 1000, 2000, 5000 and 10000 tenge. The back side of the 200 tenge note has writings in Kazakh, while the text of other banknotes on the back side has writings in Russian.