Kazakhstan was one of the last countries of the former Soviet Union to exit the rouble zone. The national currency, the tenge, was introduced on November 15, 1993, with an initial exchange rate of 1 tenge equaling 500 Soviet roubles. The name «tenge» is derived from medieval Turkic silver coins known as «denge» or «tanga,» from which the Russian word for money, «denga,» also originates, leading to the modern term «dengi.» The tenge honors the rich history of medieval Kazakh cities like Otrar and Taraz, where coins were minted as early as the 13th century.
The first currency of independent Kazakhstan was produced by the historic British company Harrison and Sons. In 1995, the country opened its own national banknote printing facility. Today, the tenge boasts 18 security features, ranking it among the world’s most protected currencies. The current denominations include banknotes of 200, 500, 1000, 2000, 5000, 10,000, and 20,000 tenge, alongside coins in values of 1, 2, 5, 10, 20, and 50 tenge.
In addition to circulating currency, Kazakhstan also mints limited-edition commemorative coins in nickel silver. The National Bank of Kazakhstan offers investment coins in precious metals, such as gold and silver. Noteworthy examples include the 925 silver «Sport» series coin, weighing 31.1 grams and valued at 100 tenge, released on November 29, 2006, and the «Golden Bars» gold coin, made from 999.9 fine gold, weighing 5 ounces, and valued at 500 tenge, introduced on November 27, 2009.
Kazakhstan boasts the most advanced banking system in Central Asia. Banks are open from Monday to Friday, 9 a.m. to 5:30 p.m. U.S. dollars and euros can be easily exchanged for tenge at banks and currency exchange offices.
On November 15, 2023, marking the 30th anniversary of the tenge, the National Bank of Kazakhstan unveiled a new series of banknotes at the 11th Congress of Financiers. These notes feature elements of the «Saka style,» symbolizing the country’s heritage from its nomadic culture to modern Kazakhstan.