National Currency of Kazakhstan
Tenge, the currency of Kazakhstan was introduced on the 15th of November 1993. International symbol – KZT. 1 tenge is equal to 100 tyin. Turkic medieval silver coins “dengue" or “tanga", from which, in turn, derived the name of the Russian coins “denga” and the word “dengi”. Kazakhstan was one of the last countries of CIS to introduce a national currency. On November 12, 1993, a decree of the President of Kazakhstan, "About introducing national currency of Republic of Kazakhstan", was issued. On November 15, 1993, the tenge was brought into circulation. As such, November 15 is celebrated as the "Day of national currency of Republic of Kazakhstan". The first consignment of tenge was printed abroad, in the U.K.. The first coins were minted in Germany. Starting from 2006 a new type banknotes with improved defense and altered design are being produced. Altered color palette of the notes and different size of each banknote enable to navigate unmistakably in handling money. Made in one style, notes contains the vertical image on the front side, and horizontal on the backside. On the banknote, Baiterek a symbol of modern Kazakhstan is depicted. At present, on the territory of Kazakhstan banknote: 200, 500, 2000, 5000, 10 000, as well as coins of 1, 2, 5, 10, 20, 50, 100 tiyns participate in the cash turnover. Kazakhstan was one of the last countries of CIS to introduce the national currency. Decree of the President of the Republic of Kazakhstan "About introducing national currency of the Republic of Kazakhstan" was approved on November 12, 1993. November 15, 1993 tenge was introduced into circulation. Nov. 15 is celebrated as the Day of national currency of the Republic of Kazakhstan. The first consignment of tenge was printed abroad, in the UK. The first coins were minted in Germany. Kazakhstan has the most advanced banking system in Central Asia. Banks are open from Monday to Friday, from 9 am until 5:30 pm. U.S. Dollars can be easily exchanged for tenge (especially on the black market), the euro is also accepted in almost all banks and exchange offices.
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