Kazakstan Tenge (KZT)

The Kazakhstan Tenge (KZT) is the official currency of Kazakhstan. It was introduced in 1993, following the dissolution of the Soviet Union and the independence of Kazakhstan from the Soviet Republic. The currency is regulated by the National Bank of Kazakhstan.

The KZT is represented by the international currency code “KZT” and is commonly abbreviated as “₸”. It plays a crucial role in the economic development and growth of Kazakhstan.

The Tenge is subdivided into 100 tiyin, although the tiyin is not practically used in circulation. The currency is issued in the form of banknotes and coins. Banknotes are commonly available in denominations of 200, 500, 1,000, 2,000, 5,000, and 10,000 tenge, while coins are available in denominations of 1, 2, 5, 10, 20, 50, and 100 tenge.

The value of the Kazakhstan Tenge can fluctuate based on foreign exchange rates. Factors such as Kazakhstan’s economic performance, energy prices, balance of trade, and other economic indicators can influence the currency’s value.

The KZT is widely accepted as legal tender within Kazakhstan and is commonly used for transactions throughout the country. The stability of the Tenge is supported by Kazakhstan’s economic growth and its presence in the energy sector.

The Kazakhstan Tenge serves as a symbol of the nation’s identity and economic independence. Its value and performance are closely monitored alongside the factors that influence Kazakhstan’s economic and trade relationships.