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Kazakhstan Tenge
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The tenge is the official currency in Kazakhstan (which may also be spelled as Kazakhstan). Each tenge is divided into 100 tiyn. The tiyn are no longer in circulation, so this division is actually theoretical only. The word tenge is derived from the Kazakh word for scales, but it also relates to the Russian word for money which is translated roughly as 'den'gi'. |
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The currency is issued by the National Bank of Kazakhstan and comes as both notes and coins. Coins are issued in the form of 5, 10, 20, 50 and 100 tenge, but 1 and 2 tenge pieces are still legal tender, but they are relatively worthless.Notes come as 200, 500, 1000, 2000, 5000 and 10,000 tenge. The currency is identified internationally by the letters KZT. |
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History of the TengeThe tenge is very much a 'new kid on the block' as currencies go. It was only introduced in 1993, when it was brought in as a replacement for the Russian ruble, |
which had been the currency in use in the Soviet Union, of which Kazakhstan was an integral part. After the collapse of the Soviet Union and as more and more countries became independent, there was a desire for each independent country to have its own currency. So each country in the Commonwealth of Independent States, (countries which had formerly been part of the USSR) started work on designing their own currency. And so it was, that in November 1993, the tenge first hit the streets of Kazakhstan as a brand new currency, symbolising all the hopes and dreams of this fledgling country.
Getting Hold of Tenge
Getting hold of tenge is not that difficult. There are a number of ATM machines throughout the country, with most major towns and cities having a reasonable number of ATM's: indeed the banking system in Kazakhstan is actually the most advanced and sophisticated in the whole of Central Asia, so this is not a financial backwater, but rather somewhere that you will be able to access cash. However, if you plan to use your credit or debit card in Kazakhstan, then you need to be aware that prior to travelling there, you should notify your bank or card provider that your card is going to be used in Kazakhstan. Since it is not a standard destination, your bank or card provider may pick up on the fact that it is being used there and if you haven't notified them that it is going to be used in Kazakhstan, they may think that it is being used fraudulently and as a result, may stop its use, which is simply too much hassle, so take the time to do things properly and notify them prior to your travelling date.
Credit card use is beginning to become more common in Kazakhstan, but it is best to still think about cash and using cash for all transactions. If you want to exchange traveller's cheques, then you shouldn't really have too much of a problem, but make sure that you take them in US dollars, simply to ease the process of the transaction. If you want to take cash in, then the preferred currency is US dollars, although euros are becoming more popular. But taking cash in can be a bit of a hassle, since banks only want to exchange new notes and if you have ones that are not so new, then you can actually have real problems changing them over, so err on the side of caution with cash and bring only new or nearly new, notes.








