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Kazakhstani tenge

Topic: Finance

 From HandWiki - Reading time: 13 min
Short description: Currency of Kazakhstan
Tenge
  • Қазақстан теңгесі / Qazaqstan teñgesi (Kazakh)
  • Казахстанский тенге (Russian)
KZ5000KZT2011averse.jpg
₸5,000 note
ISO 4217
CodeKZT (numeric: 398)
Subunit0.01
Unit
PluralThe language(s) of this currency do(es) not have a morphological plural distinction.
Symbol₸‎
Denominations
Subunit
 ​1⁄100tiyn (тиын)
Banknotes
 Freq. used₸200, ₸500, ₸1,000, ₸2,000, ₸5,000, ₸10,000, ₸20,000
Coins
 Freq. used₸5, ₸10, ₸20, ₸50, ₸100, ₸200
 Rarely used₸1, ₸2
Demographics
User(s)Kazakhstan Kazakhstan
Issuance
Central bankNational Bank of Kazakhstan
 Websitenationalbank.kz
PrinterBanknote Factory of the National Bank of Kazakhstan
Valuation
Inflation4.9%[1]
 SourceBasic Macroeconomic Indicators on the homepage

The tenge (/ˈtɛŋɡeɪ/[2] or /tɛŋˈɡeɪ/;[3] Kazakh: теңге, teñge, Kazakh pronunciation: [ˌtʲeŋˈɡʲe]; Russian: тенге, tenge; sign: ₸ ; code: KZT) is the currency of Kazakhstan. It is divided into 100 tiyn (Kazakh: тиын, tıyın also transliterated as tiyin).

History

After the breakup of the Soviet Union in December 1991, most of the formerly Soviet republics attempted to maintain a common currency. Some politicians hoped to at least maintain "special relations" among former Soviet republics (the "near abroad"). Other reasons were the economic considerations for maintaining the ruble zone. The wish to preserve strong trade relations between former Soviet republics was considered the most important goal.[4]

The break-up of the Soviet Union was not accompanied by any formal changes in monetary arrangements. The Central Bank of Russia took over the State Bank of the USSR (Gosbank) on 1 January 1992. It continued to ship Soviet notes and coins to the central banks of the eleven newly independent countries, which had formerly been the main branches of Gosbank in the republics.

The political situation, however, was not favourable for maintaining a common currency.[4] Maintaining a common currency requires a strong political consensus in respect to monetary and fiscal targets, a common institution in charge of implementing these targets, and some minimum of common legislation (concerning the banking and foreign-exchange regulations).[citation needed] These conditions were far from being met amidst the turbulent economic and political situation.

During the first half of 1992, there existed a monetary union where 15 independent states all used the ruble. Since it was clear that the situation would not last, each of them was using its position as "free-riders" to issue huge amounts of money in the form of credit.[5] As a result, some countries were issuing coupons in order to "protect" their markets from buyers from other states. The Russian central bank responded in July 1992 by setting up restrictions to the flow of credit between Russia and other states. The final collapse of the ruble zone began when Russia pulled out with the exchange of banknotes by the Central Bank of Russia on Russian territory at the end of July 1993.

As a result, Kazakhstan and other countries still in the ruble zone were "pushed out".[5] On November 12, 1993, the President of Kazakhstan issued a decree "On introducing national currency of Republic of Kazakhstan". The tenge was introduced on 15 November 1993 to replace Soviet currency at a rate of ₸ 1 = Rbls 500. In 1991 a "special group" of designers was set up: Mendybay Alin, Timur Suleymenov, Asimsaly Duzelkhanov and Khayrulla Gabzhalilov. Thus November 15 is celebrated as the "Day of National Currency of Republic of Kazakhstan". In 1995 a tenge-printing factory opened in Kazakhstan. The first consignment of tenge banknotes were printed in the United Kingdom and the first coins were struck in Germany. In February 2019, Kazakh President Nursultan Nazarbayev signed a bill into law that will remove all Russian captions from future tenge banknotes and coins.[6]

Etymology

The word tenge in Kazakh and in most other Turkic languages means a set of scales (cf the old Uzbek tenga or the Tajik borrowed term tanga). The origin of the word is the Mongolic word teng (ᠲᠡᠩ) originating from Chinese děng (等 or 戥) which means "being equal, balance". The name of this currency is thus similar to the pound, lira, peso, taka, and shekel. The name of the currency is also related to the Russian word for money Russian: деньги/ den'gi, which the Old Russian language borrowed from Turkic sources.[7]

Symbol

The symbol for the Kazakhstani tenge.

Originally a simple letter "Т" was used to denote amounts in tenge, this is still recommended when the tenge symbol is not available.[8] In autumn 2006 the National Bank of Kazakhstan organised a competition for a unique symbol for the currency and received over 30,000 applications. On March 20, 2007, two days before the Nauryz holiday, the National Bank of Kazakhstan approved a graphical symbol for the tenge: ₸. On March 29, 2007, the Bank announced two designers from Almaty, Vadim Davydenko and Sanzhar Amirkhanov, as winners for the design of the symbol of the Kazakhstani tenge. They shared a prize of ₸1,000,000 and the title of "parents" of the tenge symbol.[9] The character was included in Unicode 5.2.0 (August 2009) at code point U+20B8.[10]

Coins

While older coins were struck in Germany, current coins are struck domestically, by the Kazakhstan Mint in Oskemen.

First series (1993)

In 1993, the first series of coins were introduced in denominations of 2, 5, 10, 20, and 50 tiyin featuring the national arms and were struck in bronze. The coins of ₸ 1, ₸ 3, ₸ 5, ₸ 10, and ₸ 20 were struck in cupro-nickel and depicted stylized and mythical animals. The coins of this period circulated alongside tiyin and low denomination tenge notes of equal value. Tiyin coins were withdrawn as of February 7, 2001 and lost their effect as legal currency as of December 31, 2012.[11][12]

Image Denomination Material Diameter Mass Thickness Edge Date of
issue minting withdrawal
KAZ-2ty.jpg 2 tiyin Brass 17.27 mm 2.26 g 1.3 mm Smooth 1 March 1994 1993 31 December 2012
KAZ-5ty.JPG 5 tiyin
KAZ-10ty.JPG 10 tiyin 19.56 mm 3.48 g 1.6 mm
KAZ-20ty.JPG 20 tiyin 21.87 mm 4.71 g 1.7 mm
KAZ-50ty.JPG 50 tiyin 25 mm 7.43 g 2 mm
KAZ-1t1.jpg T 1 Alloy of "nickel silver" 17.27 mm 2.26 g 1.3 mm Smooth 25 October 1995 1 October 2001
KAZ-3t.jpg T 3 19.56 mm 3.48 g 1.6 mm
KAZ-5t1.jpg T 5 21.87 mm 4.71 g 1.7 mm
KAZ-10t1.jpg T 10 25 mm 7.43 g 2 mm
KAZ-20t1.jpg T 20 31 mm 11.37 g Grooved

Second series (1998)

₸1, ₸2, ₸5, ₸10, ₸20, ₸50 and ₸100 coins of the second series.

In 1998, a new series of coins was introduced. After the withdrawal of tiyin denominated coins ₸ 1 became the smallest denomination. ₸ 100 were later introduced in 2002 replacing the equivalent notes. A ₸ 2 coin was introduced in 2005. In 2013 the alloy of lower denomination coins was altered.

Second series coins of the Kazakh tenge (1997–2018)[13]
Image Value Technical parameters Description Date of
Diameter Mass Thickness Composition Edge Obverse Reverse minting issue withdrawal lapse 120px ₸1 15 mm 1.63 g 1.3 mm Alloy of "nickel silver", yellow color
(since 2013 - carbon steel, galvanic coating yellow metal) 		Plain Value Year, Emblem of Kazakhstan 1997~2018 11 November 1998 Current 120px ₸2 16 mm 1.84 g 1.3 mm 2005,2006 23 February 2005 120px ₸5 17.27 mm 2.18 g 1.3 mm 1997~2018 11 November 1998 120px ₸10 19.56 mm 2.81 g 1.3 mm 120px ₸20 18.27 mm 2.9 g 1.6 mm Alloy of "nickel silver", white color (since 2013 - carbon steel and galvanic nickel) Grooved Value Year, Emblem of Kazakhstan 1997~2018 11 November 1998 Current 120px ₸50 23 mm 4.7 g 1.6 mm 120px ₸100 24.5 mm 6.65 g 1.95 mm Inner disk: alloy of "nickel silver", white color
Outer disk: alloy of "nibrass", yellow color. 		Grooved with the note - «СТО ТЕНГЕ - ЖYЗ ТЕҢГЕ» (one hundred tenge) 2002~2007 1 July 2002

Third series (2019)

In 2019, a new series of coins was introduced into circulation, with the same coin specifications and metallic compositions as the second series. But with the inscriptions of the coins now rendered in Latin-based Kazakh instead of Kazakh-based Cyrillic.

The coins were issued as part of the efforts of the presidential decree issued by former President Nursultan Nazarbayev of its transition of switching from a Cyrillic-based alphabet to a Latin-based alphabet and emphasizing Kazakh culture and distance the country from Russian influence. The designs of the coins were approved by Interim President Kassym-Jomart Tokayev on March 20, 2019. Previously issued coins bearing the Kazakh Cyrillic script will remain legal tender alongside the new Kazakh Latin inscribed coins. In 2019, the National Bank of Kazakhstan announced the issuance of new ₸200 coins, which were issued into circulation in 2020. This new denomination features inscriptions in Latin-based Kazakh, and like the ₸100 coin, is bi-metallic.[14]

Third series coins of the Kazakh tenge (2019–present)[15]
Image Value Technical parameters Description Date of
Diameter Mass Thickness Composition Edge Obverse Reverse minting issue withdrawal lapse 100px|1 tenge ₸1 15 mm 1.63 g 1.3 mm Carbon steel, galvanic coating yellow metal Plain Value Year, Emblem of Kazakhstan 2019~present 26 April 2019 Current 100px|2 tenge ₸2 16 mm 1.84 g 1.3 mm 100px|5 tenge ₸5 17.27 mm 2.18 g 1.3 mm 100px|10 tenge ₸10 19.56 mm 2.81 g 1.3 mm 100px|20 tenge ₸20 18.27 mm 2.9 g 1.6 mm Carbon steel and galvanic nickel Grooved Value Year, Emblem of Kazakhstan 2019~present 26 April 2019 Current 100px|50 tenge ₸50 23 mm 4.7 g 1.6 mm 100px|100 tenge ₸100 24.5 mm 6.65 g 1.95 mm Inner disk: alloy of "nickel silver", white color
Outer disk: alloy of "nibrass", yellow color. 		Grooved with the note - «JÚZ TEŃGE» (one hundred tenge) 50px|200 tenge50px|200 tenge ₸200 26 mm 7.5 g 1.9 mm Aluminium-brass center in copper-nickel ring Sixteen indentations ('Spanish flower') with alterned plain and reeded sections 2020~present 28 January 2020

Commemorative coins

Commemorative coins are issued in denominations of ₸20, ₸50, ₸100, ₸500, ₸1,000, ₸2,500, ₸5,000 and ₸10,000. Silver and gold bullion coins exist in denominations of ₸1, ₸2, ₸5, ₸10, ₸20, ₸50 and ₸100. Many of the ₸20 and ₸50 commemoratives are also struck in cupro-nickel and occasionally make it out into general circulation as a side coinage with face value.

New symbol of tenge (₸) used on info-board of a currency exchange office in Almaty

Banknotes

200 tenge (old design)

1993 series

On 15 November 1993, the National Bank of Kazakhstan issued notes in denominations of 1, 2, 5, 10, 20, and 50 tiyn, T 1, T 3, T 5, T 10, T 20, and T 50; T 100 notes followed shortly thereafter. These were followed in 1994 by T 200, T 500, and T 1,000 notes. T 2,000 notes were introduced in 1996, with T 5,000 in 1999 and T 10,000 on 28 July 2003.[16] Notes currently in circulation are:

  • ₸200 - portrait of Al-Farabi
  • ₸500 - portrait of Al-Farabi, fragment of Khodzha Akhmet Yassaui mausoleum
  • ₸1,000 - portrait of Al-Farabi
  • ₸2,000 - portrait of Al-Farabi
  • ₸5,000 - portrait of Al-Farabi
  • ₸10,000 - portrait of Al-Farabi, image of snow leopard.
1993 Series
Image Value Main Colour Description Date
Obverse Reverse Obverse Reverse Obverse Reverse issue annul
Kazakhstan-1993-Bill-0.01-Obverse.jpg Kazakhstan-1993-Bill-0.01-Reverse.jpg 1 tiyn green green value in numeral and Kazakh, unique geometric design background value in numeral and Kazakh, Kazakhstan coat of arms, unique geometric design background 1993 2001
Kazakhstan-1993-Bill-0.02-Obverse.jpg Kazakhstan-1993-Bill-0.02-Reverse.jpg 2 tiyn light blue light blue
Kazakhstan-1993-Bill-0.05-Obverse.jpg Kazakhstan-1993-Bill-0.05-Reverse.jpg 5 tiyn pink pink
Kazakhstan-1993-Bill-0.10-Obverse.jpg Kazakhstan-1993-Bill-0.10-Reverse.jpg 10 tiyn red red
Kazakhstan-1993-Bill-0.20-Obverse.jpg Kazakhstan-1993-Bill-0.20-Reverse.jpg 20 tiyn blue, grey blue
Kazakhstan-1993-Bill-0.50-Obverse.jpg Kazakhstan-1993-Bill-0.50-Reverse.jpg 50 tiyn brown, yellow brown
Kazakhstan-1993-Bill-1-Obverse.jpg Kazakhstan-1993-Bill-1-Reverse.jpg T 1 blue light blue Portrait of Al-Farabi Geometrical constructions and formulations of Al-Farabi 2012–2018
Kazakhstan-1993-Bill-3-Obverse.jpg Kazakhstan-1993-Bill-3-Reverse.jpg T 3 green bluish green Portrait of Suinbai Aronuly Alatau landscape
Kazakhstan-1993-Bill-5-Obverse.jpg Kazakhstan-1993-Bill-5-Reverse.jpg T 5 brown yellow, orange Portrait of Kurmangazy Kurmangazy mausoleum
Kazakhstan-1993-Bill-10-Obverse.jpg Kazakhstan-1993-Bill-10-Reverse.jpg T 10 green light green Portrait of Chokan Ualihanov Ok Zhetpes mountain
Kazakhstan-1993-Bill-20-Obverse.jpg Kazakhstan-1993-Bill-20-Reverse.jpg T 20 brown light brown Portrait of Abay Kunanbaev Illustration of golden eagle with the man, drawn from works of Abay Kunanbaev
Kazakhstan-1993-Bill-50-Obverse.jpg Kazakhstan-1993-Bill-50-Reverse.jpg T 50 reddish light red Portrait of Abulhair Khan Rock paintings of Mangistau
Kazakhstan-1993-Bill-100-Obverse.jpg Kazakhstan-1993-Bill-100-Reverse.jpg T 100 violet pink Portrait of Ablay Khan Hodja Ahmed Yassavi mausoleum
KazakhstanP20-200Tenge-1999-donatedoy f.jpg KazakhstanP20-200Tenge-1999-donatedoy b.jpg T 200 brown, red yellow, blue Portrait of Al-Farabi Hodja Ahmed Yassavi mausoleum 1994
KazakhstanP21-500Tenge-1999-donatedoy f.jpg KazakhstanP21-500Tenge-1999-donatedoy b.jpg T 500 dark blue, blue blue, violet Portrait of Al-Farabi Hodja Ahmed Yassavi mausoleum
KazakhstanPnew-1000Tenge-2000(2001)-donatedoy f.jpg KazakhstanPnew-1000Tenge-2000(2001)-donatedoy b.jpg T 1,000 green, red green, blue, red Portrait of Al-Farabi Hodja Ahmed Yassavi mausoleum
KazakhstanPnew-2000Tenge-2000(2001)-donatedoy f.jpg KazakhstanPnew-2000Tenge-2000(2001)-donatedoy b.jpg T 2,000 green, blue green, brown Portrait of Al-Farabi Hodja Ahmed Yassavi mausoleum 1996
KazakhstanP24-5000Tenge-2001-donatedoy f.jpg KazakhstanP24-5000Tenge-2001-donatedoy b.jpg T 5,000 brown, violet brown Portrait of Al-Farabi Hodja Ahmed Yassavi mausoleum 1998
KazakhstanPnew-10000Tenge-2003-donatedoy f.jpg KazakhstanPnew-10000Tenge-2003-donatedoy b.jpg T 10,000 blue blue, brown Portrait of Al-Farabi Snow leopard against a background of mountains 2003

2006 series

Some ₸2,000 notes spelled the word банкі (bank) incorrectly as банқі.

The National Bank of Kazakhstan issued a new series of tenge banknotes in 2006. This was not a currency reform as they replaced existing notes at face value.

The 2006 series is far more exotic than its predecessors. The obverse is vertical and the denomination is written in Kazakh. All denominations depict the Astana/Nur-Sultan Bayterek monument, the flag of Kazakhstan, the Coat of arms, the handprint with a signature of president Nursultan Nazarbayev and fragments of the national anthem. The main differences across each denomination are only the colours, denominations and underprint patterns.

On the contrast, the reverse side of the notes are more different. The denomination is written in Russian, and each denomination shows a unique building and geography of Kazakhstan in the outline of its borders.

The first printing of the ₸2,000 and ₸5,000 notes issued in 2006 had misspellings of the word for "bank" (the correct spelling "банкі" bankı was misspelled "*банқі" banqı). The misspelling was a politically sensitive issue due to the cultural and political importance of the Kazakh language.[17]

On 3 October 2016, the ₸2,000, ₸5,000 and ₸10,000 banknotes of the 2006 series lost their legal tender status and are no longer valid. From 4 October 2016 to 3 October 2017, these notes could be exchanged without commission at any second tier bank and branches of the National Bank of Kazakhstan.[18]

2006 Series
Image Value Main Colour Description Date of issue
Obverse Reverse Obverse Reverse
200 tenge (2006).jpg 200 tenge (2006) r.jpg ₸200 orange Nur-Sultan Bayterek monument, Kazakhstan flag, Kazakhstan coat of arms, handprint with a signature of Kazakh President Nursultan Nazarbayev, fragments of the national anthem, value in numerals and Kazakh words, issuing bank in Kazakh, inscription in Kazakh stating that counterfeiting banknotes is against the law Transport and Communication Ministry and a winged snow leopard on the bridge over River Ishim, outline map of Kazakhstan with Ministry of Defense and the steppes in the background, value in Russian, name of issuing in Kazakh, logo of issuing bank, inscription in Russian stating that counterfeiting banknotes is against the law 2006–2016[18]
500 tenge (2006).jpg 500 tenge (2006) r.jpg ₸500 blue Ministry of Finance and Akimat (City Hall) of Astana/Nur-Sultan, outline map of Kazakhstan with gulls over the sea in background, value in Russian, name of issuing in Kazakh, logo of issuing bank, inscription in Russian stating that counterfeiting banknotes is against the law
1000 tenge (2006).jpg KazakhstanPNew-1000Tenge-2006-donatedTA b.jpg ₸1,000 brown President Culture Center, outline map of Kazakhstan with mountains in background, value in Russian, name of issuing in Kazakh, logo of issuing bank, inscription in Russian stating that counterfeiting banknotes is against the law
2000 tenge (2006).jpg KazakhstanPNew-2000Tenge-2006-donatedTA b.jpg ₸2,000 green Abai Opera House, outline map of Kazakhstan with mountain lake in background, value in Russian, name of issuing in Kazakh, logo of issuing bank, inscription in Russian stating that counterfeiting banknotes is against the law
5000 tenge (2006).jpg KazakhstanPNew-5000Tenge-2006-donatedTA b.jpg ₸5,000 red Independence Monument and the Kazakhstan Hotel, outline map of Kazakhstan with mountains in background, value in Russian, name of issuing in Kazakh, logo of issuing bank, inscription in Russian stating that counterfeiting banknotes is against the law
10000 tenge (2006).jpg 10000 tenge (2006) r.jpg ₸10,000 purple Residence Akorda (presidential palace), outline map of Kazakhstan with canyons in the background, value in Russian, name of issuing in Kazakh, logo of issuing bank, inscription in Russian stating that counterfeiting banknotes is against the law

2011–2017 series

The National Bank of Kazakhstan issued a new series of tenge banknotes dated 2011, 2012, 2013 and 2014 in denominations of ₸1,000, ₸2,000, ₸5,000, and ₸10,000.[19][20][21][22] The designs for this series feature the "Kazakh Eli" monument on the front of the notes. On 1 December 2015, a new ₸20,000 banknote was introduced. It contains the issue date of 2013, and is a commemorative note to celebrate the 20th anniversary of the introduction of its national currency, but was not issued until 2015.[23] In 2017, the National Bank of Kazakhstan issued a ₸500 banknote as part of this series, but has caused controversy over an image of a gull on the reverse side of the note and the image of the Moscow business center in Kazakhstan's capital of Nur-Sultan.[24]

2011–2017 Series
Image Value Main Color Description Date of issue
Obverse Reverse Obverse Reverse
[2] [3] ₸500 Blue Flag, skyscrapers, "Kazakh Eli" monument in Astana/Nur-Sultan (representing the "Independence of Kazakhstan" and the "Continuation of Generations"), Emblem of Kazakhstan and Flag of Kazakhstan Outline of Kazakhstan, seagulls 2017
[4] [5] ₸1,000 Yellow, brown, orange and blue "Kazakh Eli" monument in Astana/Nur-Sultan (representing the "independence of Kazakhstan" and the "Continuation of Generations"), pigeons, Emblem of Kazakhstan and Flag of Kazakhstan Outline of Kazakhstan, mountains and landscape of the Ustyurt Plateau 2014
[6] [7] ₸2,000 Green "Kazakh Eli" monument in Astana/Nur-Sultan (representing the "independence of Kazakhstan" and the "Continuation of Generations"), Khan Shatyr tent, pigeons, Emblem of Kazakhstan and Flag of Kazakhstan Outline of Kazakhstan, Ertis/Irtysh river 2012
[8] [9] ₸5,000 Red, blue, yellow, and green "Kazakh Eli" monument in Astana/Nur-Sultan (representing the "independence of Kazakhstan" and the "Continuation of Generations"), Palace of Independence, pigeons, Emblem of Kazakhstan and Flag of Kazakhstan Outline of Kazakhstan, Monument of Independence, Hotel "Kazakhstan" (Almaty/Alma Ata), Zailijsky Alatau ridge of Tjan-Shan mountain range 2011
[10] [11] ₸10,000 Violet and blue "Kazakh Eli" monument in Astana/Nur-Sultan (representing the "independence of Kazakhstan" and the "Continuation of Generations"), Palace of Independence, pigeons, Emblem of Kazakhstan and Flag of Kazakhstan Outline of Kazakhstan, Residence Ak Orda (Palace of the President), Astana/Nur-Sultan 2012
[12] [13] ₸20,000 Blue-gray and violet "Kazakh Eli" monument in Astana/Nur-Sultan (representing the "independence of Kazakhstan" and the "Continuation of Generations"), pigeons, Emblem of Kazakhstan, Flag of Kazakhstan and the Mangilik El triumphal arch Outline of Kazakhstan, Residence Ak Orda (Palace of the President) and Government buildings in Astana/Nur-Sultan, arranged in order by the principle of separation of powers, as written in the Constitution of the Republic of Kazakhstan 2015[25]

2023-2025 series

The National Bank of Kazakhstan announced a new series of banknotes set for issue from 2023 to 2025. Named "Saka", the series will introduce notes issued in a reduced size and incorporate many new security features for all six denominations. Banknotes of the previous series will cease to be legal tender after the release of each denomination, and will be redeemable at banks and post offices for up to three years. The National Bank of Kazakhstan will redeem all previous issues without limit.[26]

New series with security features 2008

Since 2008, a number of commemorative designs have been issued, including notes celebrating the 2011 Asian Winter Games hosted in Nur-Sultan. Commemoratives can typically be found in these denominations: ₸1,000, ₸2,000, ₸5,000, and ₸10,000.

Digital tenge

The National Bank of Kazakhstan publicly released plans to develop a national digital currency.[27]

Commemorative banknotes

  • T 5,000 (2001)

  • 5,000 tenge banknote issued in 2001 with overprint to commemorate the tenth anniversary of independence from the Soviet Union (front).

  • 5,000 tenge banknote issued in 2001 with overprint to commemorate the tenth anniversary of independence from the Soviet Union (back).

  • ₸5,000 (2008)

  • 5,000 tenge banknote issued in 2008 to commemorate 15 years of the Kazakhstani tenge (front).

  • 5,000 tenge banknote issued in 2008 to commemorate 15 years of the Kazakhstani tenge (back).

  • ₸1,000 (2010)

  • 1,000 tenge banknote issued in 2010 to commemorate the Chairmanship of Kazakhstan in the OSCE (front).

  • 1,000 tenge banknote issued in 2010 to commemorate the Chairmanship of Kazakhstan in the OSCE (back).

  • ₸1,000 (2011)
  • ₸2,000 (2011)

  • 2,000 tenge banknote issued in 2011 to commemorate the seventh Asian Winter Games in Nur-Sultan (front).

  • 2,000 tenge banknote issued in 2011 to commemorate the seventh Asian Winter Games in Nur-Sultan (back).

  • ₸10,000 (2011)

  • 10,000 tenge banknote issued in 2011 to commemorate the 20th anniversary of independence from the Soviet Union (front).

  • 10,000 tenge banknote issued in 2011 to commemorate the 20th anniversary of independence from the Soviet Union (back).

  • ₸1,000 (2013)

1,000 tenge banknote issued in 2013 to commemorate the "Kul Tigin" – the monument of the Turkic runic writing.

  • ₸10,000 (2016)

The National Bank of Kazakhstan issued a 10,000 tenge commemorative banknote to commemorate the 25th anniversary of independence from the Soviet Union. The commemorative note contains an image of Kazakh President Nursultan Nazarbayev,[28] and was launched into circulation on the Day of the First President, December 1, 2016.

  • ₸20,000 (2021)

The National Bank of Kazakhstan issued a 20,000 tenge commemorative banknote to commemorate the 30th anniversary of independence from the Soviet Union. The commemorative note features images of the first president of Kazakhstan, "Elbasy" Nursultan Nazarbayev, the Akorda Presidential Palace, a view of the capital city of Nur-Sultan and the official logo for the celebrations. The commemorative note is also the first to feature inscriptions in Kazakh-based Latin instead of Kazakh-based Cyrillic. The commemorative note was issued on December 16, 2021.[29]

Exchange rates and inflation

On September 2, 2013, the National Bank of Kazakhstan moved the tenge from a managed float and pegged it to the United States dollar and the Russian ruble.[30]

On February 11, 2014, the Kazakh National Bank chose to devalue the tenge by 19% against the U.S. dollar in response to a weakening of the Russian ruble.[31]

On August 20, 2015, the Kazakhstan National Bank did away with the currency band with respect to conversion rate of tenge. Now, the tenge is a free-floating currency and its exchange rate against the major currencies are determined by demand and supply in the market. Due to this change, the tenge lost 30% of its value in a single day.[32]

Historical average exchange rates[33]
USD EUR RUB
1999 119.52 130.00 4.82
2000 142.13 134.40 5.05
2001 146.74 132.40 5.04
2002 153.28 144.68 4.89
2003 n/a 168.79 4.87
2004 136.04 169.04 4.72
2005 132.88 165.42 4.70
2006 126.09 158.27 4.64
2007 122.55 167.75 4.79
2008 120.30 177.04 4.86
2009 147.50 205.67 4.66
2010 147.35 195.67 4.85
2011 146.62 204.11 5.00
2012 (Jan) 148.38 191.27 4.73
2014-4-14 182.02 252.72 5.11
2016-9-30 335.64 377.42 5.33
Annual inflation rate,%[34]
1994 1160.262
1995 60.388
1996 28.763
1997 11.321
1998 1.880
1999 18.095
2000 10.001
2001 6.582
2002 6.686
2003 7.001
2004 7.011
2005 7.868
2006 8.400
2007 18.772
2008 9.484
2009 6.377
2010 7.969
2011 7.429
2012 6.0
2013 5.83
2014 6.72
2015 6.65
2016 14.56
2017 7.43
2018 6.03

See also

  • Economy of Kazakhstan

References

  1. ↑ Интернет Решения (IR.KZ). "Қазақстан Ұлттық Банкі". https://nationalbank.kz/?docid=170&switch=english. 
  2. ↑ "tenge in Lexico". Lexico. https://www.lexico.com/definition/tenge. Retrieved 8 August 2022. 
  3. ↑ "tenge in Collins Dictionary". Collins Dictionary. https://www.collinsdictionary.com/dictionary/english/tenge. Retrieved 8 August 2022. 
  4. ↑ 4.0 4.1 Odling-Smee, J. ao (2001). "The IMF and the ruble area, 1991-93". http://www.imf.org/external/pubs/ft/wp/2001/wp01101.pdf. 
  5. ↑ 5.0 5.1 Dąbrowski, M (1995). "The reasons for the collapse of the Ruble zone". http://www.case-research.eu/sites/default/files/publications/3460035_058e_0.pdf. 
  6. ↑ "С казахстанских тенге исчезнут надписи на русском языке" (in ru). 2019-02-22. https://www.interfax.ru/world/651676. 
  7. ↑ "деньги — Викисловарь". https://ru.wiktionary.org/wiki/%D0%B4%D0%B5%D0%BD%D1%8C%D0%B3%D0%B8. 
  8. ↑ "World Bank Editorial Style Guide 2020 - page 136". https://openknowledge.worldbank.org/bitstream/handle/10986/33367/33304.pdf?sequence=4. 
  9. ↑ "Узнавайте тенге в "лицо"! | www.izvestia.kz". http://www.izvestia.kz/node/9694. 
  10. ↑ "Unicode 5.2.0 (August 2009)". August 2009. https://www.fileformat.info/info/unicode/version/5.2/index.htm. 
  11. ↑ Указ Президента Республики Казахстан от 7 февраля 2001 года № 549 «О некоторых вопросах функционирования национальной валюты Республики Казахстан».
  12. ↑ "Указ Президента Республики Казахстан от 9 ноября 2011 года № 170". http://base.spinform.ru/show_doc.fwx?rgn=47851. 
  13. ↑ Решения (IR.KZ), Интернет. "Қазақстан Ұлттық Банкі" (in kk). https://www.nationalbank.kz/kz?cat_id=7&docid=29. 
  14. ↑ [1] Қазақстан Ұлттық Банкі. Retrieved on 2021-08-28.
  15. ↑ Решения (IR.KZ), Интернет. "Национальный Банк Казахстана" (in ru). https://nationalbank.kz/ru/catalog/coins?page=1. 
  16. ↑ Linzmayer, Owen (2012). "Kazakhstan". The Banknote Book. San Francisco, CA: www.BanknoteNews.com. http://www.banknotebook.com. 
  17. ↑ "Kazakh central bank misspells 'bank' on money". 18 October 2006. http://www.nbcnews.com/id/15316714. 
  18. ↑ 18.0 18.1 "Tenge Banknotes Of 2006 Withdrawn In Kazakhstan". http://kazworld.info/?p=57344. 
  19. ↑ Kazakhstan new date (2012) non-commemorative 10,000-tenge note confirmed BanknoteNews.com. June 23, 2012. Retrieved on 2015-02-05.
  20. ↑ Kazakhstan new 5,000-tenge note confirmed BanknoteNews.com. February 12, 2012. Retrieved on 2015-02-05.
  21. ↑ Kazakhstan new 2,000-tenge note confirmed BanknoteNews.com. April 8, 2013. Retrieved on 2015-02-05.
  22. ↑ Kazakhstan new 1,000-tenge note confirmed BanknoteNews.com. January 5, 2015. Retrieved on 2015-02-05.
  23. ↑ Kazakhstan new 20,000-tenge note (B144) confirmed BanknoteNews.com. December 3, 2015. Retrieved on 2015-12-03.
  24. ↑ What Future for the 'Wikipedia Seagull' on Kazakhstan's Brand New Banknotes? Global Voices (https://globalvoices.org ) December 8, 2017. Retrieved on 2017-12-12.
  25. ↑ Интернет Решения (IR.KZ) (24 November 2019). "20 000 tenge | Banknotes | National Bank of Kazakhstan". https://www.nationalbank.kz/en/news/banknoty/6780. 
  26. ↑ Kazakhstan - "Saka", the new family of banknotes presented yesterday. MRI Bankers' Guide to Foreign Currency (https://mriguide.com/). November 19, 2023. Retrieved on 2023-11-21.
  27. ↑ "Digital tenge: the advantages of launching E-Currency". https://www.unicaselaw.com/en/cifrovoj-tenge-preimushchestva-vnedreniya-cifrovoj-valyuty. 
  28. ↑ "Kazakhstan Presented Tenge Note With President Nazarbayev". http://kazworld.info/?p=58821. 
  29. ↑ Kazakstan – New commemorative banknote. MRI Bankers' Guide to Foreign Currency (https://mriguide.com ). Retrieved on 2021-12-01.
  30. ↑ "Kazakhstan to peg tenge to U.S. dollar, euro, rouble on Sept. 2" (in en). Reuters. 2013-08-28. https://www.reuters.com/article/kazakhstan-currency-idUSL6N0GT1Y020130828. 
  31. ↑ Kazakhstan devalues tenge by almost 20% , The Financial Times, 11 February 2014
  32. ↑ "Blog Travel to Central Asia-Kazakhstan and Astana". 2015-08-20. http://astana-almaty.blogspot.com/2015/08/devaluation-of-kazakh-tenge-kzt-is-it.html. 
  33. ↑ The National Bank of Kazakhstan. "Official Foreign Exchange Rates on average for the period". http://nationalbank.kz/?docid=364. 
  34. ↑ The National Bank of Kazakhstan. "Price Indices Data". http://nationalbank.kz/index.cfm?docid=170. 

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