The tenge (/ˈtɛŋɡeɪ/ or /tɛŋˈɡeɪ/; Kazakh: теңге, teŋge, Kazakh pronunciation: [ˌtʲeŋˈɡʲe]; sign: ₸ ; code: KZT) is the currency of Kazakhstan. It is divided into 100 tiyn (Kazakh: тиын, tıyın also transliterated as tiyin).
KZT Coins
While older coins were struck in Germany, current coins are struck domestically, by the Kazakhstan Mint in Oskemen.
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. 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 Tiyin coins were withdrawn as of February 7, 2001 and lost their effect as legal currency as of December 31, 2012.
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.
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 Qasym-Zhomart Toqaev 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.
KZT Banknotes
On 15 November 1993, the National Bank of Kazakhstan issued notes in denominations of 1, 2, 5, 10, 20 and 50 tiyn, 1₸, 3₸, 5₸, 10₸, 20₸, and 50₸; 100₸ notes followed shortly thereafter. These were followed in 1994 by 200₸, 500₸, and 1,000₸ notes. 2,000 tenge notes were introduced in 1996, with 5,000₸ in 1999 and 10,000₸ on 28 July 2003. 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.
The text on the reverse side of the 200 tenge banknote is written in Kazakh, although text on the reverse sides of the other banknotes is written in Russian.
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” banki was misspelled “банқі” banqi). The misspelling was a politically sensitive issue due to the cultural and political importance of the Kazakh language.
On 3 October 2016, the 2,000₸, 5,000₸ and 10,000₸ tenge 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 can be exchanged without commission at any second tier bank and branches of the National Bank of Kazakhstan.