Currency Rates for Kazakhstani Tenge
Bank Exchange Rates for Kazakhstan - KZT - Kazakhstani Tenge - ₸. The foreign exchange rates for Kazakhstan also known as the ISO code KZT or the Kazakhstani Tenge. currency and as a symbol ₸.
Send Money Transfer to Kazakhstan. Denominations of 20, 50, 100, 500, 1,000, 2,500, 5,000 and 10,000 tenge are issued as commemorative coins. Frequently used coins are available in denominations of 1, 2, 5, 10, 20, 50 and 100 tenge, whilst banknotes are available in denominations of 200, 500, 1,000, 2,000, 5,000 and 10,000 tenge.
One Tenge subdivides into 100 tiyin, although new coins were issued in 1998, which excluded any denominations of Tiyin, meaning that the 1 tenge coin is now the smallest denomination of coin available.
GBP to KZT
The Kazakhstani tenge is a currency that belongs to the little known country of Kazakhstan, with a history dating back to the fall of Soviet union during which most democracies took it upon themselves to maintain a common currency among them. The rise of the Kazakhstani tenge was due Kazakhstan's exit from the ruble zone. On the 12th of November, 1993, the President of Kazakhstan issued a decree to introduce the tenge as the country's unique currency, in which the Kazakhstani tenge was valued at the exchange rate of one tenge for 500 rubles with the first delivery of notes printed in the United Kingdom and coins minted in Germany. But it should however be noted that in the year 1995 a tenge currency printing plant was established in Kazakhstan giving way for people to celebrate November 15th as the Kazakhstan's day of National Currency.
About The Tenge
Most of the tenge notes currently in circulation range from 1, 2, 5, 10, 20, 50, 100 200, 500 and 1000 denominations with each note containing a symbol for the Coat of arms, Kazakhstan's national flag, certain verses of the country's national anthem and the president Nursultan Nazarbayev signature. The 2000, 5000 and 10,000 denominations were however removed from circulation due to their loss of legal tender status thus people were given the chance to exchange them at a bank without any commissions. These notes have however undergone different design changes over the years e.g. the Asian Winter games hosted in Astana in the year 2011.
The Kazakhstani tenge underwent numerous changes over the years in which currencies such as the Russian Ruble and American dollar were considered valuable substitutes for it. The Kazakhstan National bank then managed to move the currency from an overseen float and fixed it to the Ruble and U.S Dollar, also going a step further as to value the currency against other currency in exchange rates based on the demand and supply which lead to the tenge losing almost 30% of its value in less than a day.