Kazakhstani Tenge (KZT)

Basic Concepts of the Kazakhstan Tenge

The Kazakhstan Tenge is the official currency of the Republic of Kazakhstan, ISO 4217 code KZT.It is issued and managed by the National Bank for daily transactions and financial settlements, and is a central component of the country's economic system.

Countries of use

The Kazakhstan Tenge circulates and is used primarily within the territory of Kazakhstan. As an important economy in Central Asia, Kazakhstan is the only country that uses the currency, covering urban, rural and border trading activities.

Units and denominations

The unit of the Kazakhstan Tenge is the "Tein", with 1 Tenge equaling 100 Tein. Banknotes in circulation are available in denominations of 200, 500, 1000, 2000, 5000, 10000 and 20000 tenge, while coins are available in denominations of 1, 2, 5, 10, 20, 50, 100 and 200 tenge, making it convenient for small daily payments.

Historical background

The Kazakhstan Tenge was introduced on November 15, 1993, replacing the former Soviet ruble and marking the establishment of Kazakhstan's monetary sovereignty after independence. The name "Tenge" is derived from a medieval Turkic word meaning "balance" or "equilibrium". Since its issuance, the tenge has undergone a number of design updates and improvements in anti-counterfeiting technology to meet the challenges of economic volatility and inflation.