Kazakhstani tenge

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Kazakhstani tenge
Қазақ теңгесі (Kazakh)
Казахстанский тенге (Russian)
200 tenge (new design)5, 10, 20, 50 and 2,000 tenge (old design)
ISO 4217 code KZT
Central bank The National Bank of Kazakhstan
 Website www.nationalbank.kz
User(s) Kazakhstan Kazakhstan
Inflation 5.950% p.a. (as of Feb. 01, 2012)
 Source Basic Macroeconomic Indicators on the homepage
Subunit
 1/100 tïın (тиын)
Symbol , ₸
Plural The language(s) of this currency does not have a morphological plural distinction.
Coins
 Freq. used 1, 2, 5, 10, 20, 50, 100 tenge
Banknotes 200, 500, 1,000, 2,000, 5,000, 10,000 tenge

The tenge (Kazakh: теңге, teñge) is the currency of Kazakhstan. It is divided into 100 tïın (тиын, also transliterated as tiyin or tijin). It was introduced on 15 November 1993 to replace the Soviet ruble at a rate of 1 tenge = 500 rubles. The ISO-4217 code is KZT.

The word tenge in the Kazakh and most other Turkic languages means a set of scales (cf the old Uzbek tenga or the Tajik borrowed term tanga). The origin of the word is the Turkic teŋ- which means being equal, balance. The name of this currency is thus similar to the lira, pound and peso. The name of the currency is related to the Russian word for money Russian: деньги / den'gi, which was borrowed from Turkic.

History

Kazakhstan was one of the last countries of the CIS to introduce a national currency. In 1991 a "special group" of designers was created: Mendybay Alin, Timur Suleymenov, Asimsaly Duzelkhanov and Khayrulla Gabzhalilov. 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". In 1995, a tenge printing factory was opened in Kazakhstan. The first consignment of tenge was printed abroad, in the UK. The first coins were minted in Germany.

The new symbol for the Kazakhstani tenge.

On March 20, 2007 two days before the Nauryz holiday, the National Bank of Kazakhstan approved a graphical symbol for the Tenge: . The character was proposed for encoding in Unicode in 2008. In autumn 2006, the National Bank of Kazakhstan organized a competition for the image of Kazakhstan Tenge and received over 30 000 applications. On March 29, 2007, the National Bank of Kazakhstan announced tandem of two designers from Almaty, Vadim Davydenko and Sanzhar Amirkhanov, as winners for the creation of symbol of Kazakhstan Tenge. They shared a prize of 1 million tenge and a title of parents of Kazakhstan Tenge symbol..It resembles the Japanese postal mark.

On September 2nd, 2013 the Kazakhstan National Bank moved the Kazakhstan Tenge from a managed float and pegged it to the U.S. dollar and Russian ruble.[7]


Coins

1, 2, 5, 10, 20, 50 and 100 tenge coins

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 tenge 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.


In 1995, a new series of coins was introduced, which excluded the tiyin having 1 tenge being the smallest denomination. 50 tenge were later introduced in 1997, followed by 100 tenge in 2002 replacing the equivalent notes. An irregular 2 tenge coin was also introduced later in 2005. Coins currently in circulation are:

  • 1 tenge (Brass)
  • 2 tenge (Brass)
  • 5 tenge (Brass)
  • 10 tenge (Brass)
  • 20 tenge (Copper-Nickel)
  • 50 tenge (Copper-Nickel)
  • 100 tenge (Bimetallic, Brass and Copper-Nickel)

Commemorative coins are issued in denominations of 20, 50, 100, 500, 1,000, 2,500, 5,000 and 10,000 tenge. Silver and gold bullion coins exist in denominations of 1, 2, 5, 10, 20, 50 and 100 tenge. Many of the 20 and 50 tenge commemoratives are also struck in cupro-nickel and occasionally make it out into general circulation as a side coinage with face value.

While older coins were struck in Germany, current coins are struck domestically, by the Kazakhstan Mint in Ust-Kamenogorsk.

New symbol of tenge (₸) used on info-board of a currency exchange office in Almaty

Banknotes

200 tenge (old design)

1993 series

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 tenge; 100 tenge notes followed shortly thereafter. These were followed in 1994 by 200, 500, and 1,000 tenge notes. 2,000 tenge notes were introduced in 1996, with 5,000 tenge in 1999 and 10,000 tenge on 28 July 2003.[8] Notes currently in circulation are:

  • 200 tenge portrait of Al-Farabi
  • 500 tenge portrait of Al-Farabi, fragment of Khodzha Akhmet Yassaui mausoleum
  • 1,000 tenge portrait of Al-Farabi
  • 2,000 tenge portrait of Al-Farabi
  • 5,000 tenge portrait of Al-Farabi
  • 10,000 tenge portrait of Al-Farabi, image of snow leopard.

Interestingly, the text on the reverse side of 200 tenge banknote is written in Kazakh, although text on the reverse sides of the other banknotes is written in Russian.


1993 Series
Image Value Main Colour Description Date
Obverse Reverse Obverse Reverse Obverse Reverse issue annul
1 tiyn value in numeral and Kazakh, unique geometric design background value in numeral and Kazakh, Kazakhstan coat of arms, unique geometric design background 1993 2001
2 tiyn
5 tiyn
10 tiyn
20 tiyn
50 tiyn
1 tenge dark blue pink Portrait of Al-Farabi Geometrical constructions and formulations of Al-Farabi 2012-2018[9]
3 tenge green, grey green Portrait of Suinbai Aronuly Alatau landscape
5 tenge brown yellow, red Portrait of Kurmangazy Mausoleum
10 tenge dark blue pink Portrait of Chokan Ualihanov Ok Zhetpes mountain
20 tenge dark brown brown Portrait of Abay Kunanbaev Illustration of golden eagle with the man, drawn from works of Abay Kunanbaev
50 tenge light brown brown Portrait of Abulhair Khan Rock paintings of Mangistau
100 tenge violet pink Portrait of Ablay Khan Hodja Ahmed Yassavi mausoleum
200 tenge brown, red yellow, blue Portrait of Al-Farabi Hodja Ahmed Yassavi mausoleum 1994
500 tenge dark blue, blue blue, violet Portrait of Al-Farabi Hodja Ahmed Yassavi mausoleum
1,000 tenge green, red green, blue, red Portrait of Al-Farabi Hodja Ahmed Yassavi mausoleum
2,000 tenge green, blue green, brown Portrait of Al-Farabi Hodja Ahmed Yassavi mausoleum 1996
5,000 tenge brown, violet brown Portrait of Al-Farabi Hodja Ahmed Yassavi mausoleum 1998
10,000 tenge blue blue, brown Portrait of Al-Farabi Snow leopard against a background of mountains 2003

2006 series

Some 2,000 tenge notes spelled the word "банкі" (bank) incorrectly as "банқі"

The National Bank of Kazakhstan issued banknotes of new series in 2006. They have the same values as the previously existed ones.

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 Bayterek monument, the flag of Kazakhstan, the Coat of arms, the handprint with a signature of president Nazarbayev and fragments of the national anthem. The main differences across each denomination are only the colours, the values, the underprint patterns.

On the contrast, the reverses are more differentiated. The value is written in Russian. Each denomination shows a unique building and geography of Kazakhstan in the outline of Kazakhstan border.

The first printing of the 2,000 and 5,000 tenge notes issued in 2006 had misspellings of the word for "bank" (the correct spelling "банкі" was misspelled "банқі"). The misspelling was a politically sensitive issue due to the cultural and political importance of the Kazakh language.[10]


2006 Series
Image Value Main Colour Description Date of issue
Obverse Reverse Obverse Reverse
200 tenge orange, green Astana Bayterek monument, Kazakhstan flag, Kazakhstan coat of arms, handprint with a signature of Nursultan Nazarbayev, fragments of the national anthem, value in numerals and Kazakh words, issuing bank in Kazakh, inscription in Kazakh stating that counterfeiting banknotes is against the law Transport and Communication Ministry and a winged snow leopard on the bridge over River Ishim, outline map of Kazakhstan with Ministry of Defense and the steppes in the background, value in Russian, name of issuing in Kazakh, logo of issuing bank, inscription in Russian stating that counterfeiting banknotes is against the law 2006
500 tenge blue, grey Ministry of Finance and Akimat (City Hall) of Astana, outline map of Kazakhstan with gulls over the sea in background, value in Russian, name of issuing in Kazakh, logo of issuing bank, inscription in Russian stating that counterfeiting banknotes is against the law
1,000 tenge yellow, brown President Culture Center, outline map of Kazakhstan with mountains in background, value in Russian, name of issuing in Kazakh, logo of issuing bank, inscription in Russian stating that counterfeiting banknotes is against the law
2,000 tenge dark and light green Abai Opera House, outline map of Kazakhstan with mountain lake in background, value in Russian, name of issuing in Kazakh, logo of issuing bank, inscription in Russian stating that counterfeiting banknotes is against the law
5,000 tenge deep-brown, red Independence Monument and the Kazakhstan Hotel, outline map of Kazakhstan with mountains in background, value in Russian, name of issuing in Kazakh, logo of issuing bank, inscription in Russian stating that counterfeiting banknotes is against the law
10,000 tenge violet, blue Residence Akorda (presidential palace), outline map of Kazakhstan with canyons in the background, value in Russian, name of issuing in Kazakh, logo of issuing bank, inscription in Russian stating that counterfeiting banknotes is against the law

new series with security features 2008

Since 2008, a number of commemorative designs have been issued, including notes celebrating the 2011 Asian Winter Games hosted in Astana. Commemoratives can typically be found in these denominations:

1000 Tenge 2000 Tenge 5000 Tenge 10000 Tenge

Commemorative banknotes

  • 5,000 tenge (2001)

5,000 tenge issued banknote in 2001 to commemorate the 10th anniversary of independence from the Soviet Union.

  • 5,000 tenge (2008)

5,000 tenge banknote issued in 2008 to commemorate 15 years of the Kazakhstani tenge.

  • 1,000 tenge (2010)
1,000 tenge banknote issued in 2010 to commemorate the Chairmanship of Kazakhstan in the OSCE.

  • 1,000 tenge (2011)

1,000 tenge banknote issued in 2011 to commemorate Kazakhstan's chairmanship in the Organisation of the Islamic Conference.

  • 2,000 tenge (2011)

2,000 tenge banknote issued in 2011 to commemorate the 7th Asian Winter Games in Astana.

  • 10,000 tenge (2011)

10,000 tenge banknote issued in 2011 to commemorate the 20th anniversary of independence from the Soviet Union.

  • 1,000 tenge (2013)

1,000 tenge banknote issued in 2013 to commemorate the “Kultegin” – the monument of the Turkic runic writing.

Inflation level

Annual inflation rate, %[11]
1994 1160.262
1995 60.388
1996 28.763
1997 11.321
1998 1.880
1999 18.095
2000 10.001
2001 6.582
2002 6.686
2003 7.001
2004 7.011
2005 7.868
2006 8.400
2007 18.772
2008 9.484
2009 6.377
2010 7.969
2011 7.429
2012 6.0

Exchange rate

Current KZT exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD RUB CNY
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD RUB CNY
From XE.com: AUD CAD CHF EUR GBP HKD JPY USD RUB CNY
From OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD RUB CNY
From fxtop.com: AUD CAD CHF EUR GBP HKD JPY USD RUB CNY
Historical average exchange rates[12]
USD EUR RUB
1999 119.52 130.00 4.82
2000 142.13 134.40 5.05
2001 146.74 132.40 5.04
2002 153.28 144.68 4.89
2003 n/a 168.79 4.87
2004 136.04 169.04 4.72
2005 132.88 165.42 4.70
2006 126.09 158.27 4.64
2007 122.55 167.75 4.79
2008 120.30 177.04 4.86
2009 147.50 205.67 4.66
2010 147.35 195.67 4.85
2011 146.62 204.11 5.00
2012 (Jan) 148.38 191.27 4.73

See also

References

  1. ↑ http://en.tpo.ir/UserFiles/File/Mehr%20&%20Azar.pdf
  2. ↑ "Iran Inflation Rate". index Mondi. 
  3. ↑ Powrót do domu. Rozmowa z Edwardem Sochą, "Gazeta Wyborcza Katowice" nr 55, 6 marca 1999, s. 8
  4. ↑ Powrót do domu. Rozmowa z Edwardem Sochą, "Gazeta Wyborcza Katowice" nr 55, 6 marca 1999, s. 8
  5. ↑ 5.0 5.1 Profil piłkarza na stronie premierleague.com
  6. ↑ 6.0 6.1 Profil piłkarza na oficjalnej stronie Newcastle United
  7. ↑ Kazakhstan to peg tenge to U.S. dollar, euro, rouble on Sept. 2 http://www.reuters.com/article/2013/08/28/kazakhstan-currency-idUSL6N0GT1Y020130828
  8. ↑ Linzmayer, Owen (2012). "Kazakhstan". The Banknote Book. San Francisco, CA: www.BanknoteNews.com. 
  9. ↑ http://www.odk.kz/blog/3722.html
  10. ↑ Kazakh central bank misspells ‘bank’ on money
  11. ↑ The National Bank of Kazakhstan. "Price Indices Data" (in English). Retrieved 20 February 2012. 
  12. ↑ The National Bank of Kazakhstan. "Official Foreign Exchange Rates on average for the period" (in English). Retrieved 20 February 2012. 

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