Tenge is the official currency of Kazakhstan, a country located in Central Asia. The word "tenge" itself translates to "balance" or "equal" in the Kazakh language. It is represented by the currency code KZT.
The tenge was introduced as the national currency of Kazakhstan in 1993, replacing the Soviet ruble following the country's independence from the Soviet Union. It is regulated by the National Bank of Kazakhstan.
The currency is subdivided into 100 tiyin, although due to its low value, tiyin coins are no longer in circulation. Banknotes are available in denominations of 200, 500, 1,000, 2,000, 5,000, and 10,000 tenges.
The exchange rate of the tenge to other currencies fluctuates according to market conditions. It is commonly exchanged for U.S. dollars, euros, and Russian rubles.
The tenge has contributed to the development of Kazakhstan's economy and facilitated trade and financial transactions within the country. Over the years, the Kazakh government has implemented various economic policies to maintain stability and manage inflation in relation to the tenge.
Overall, the tenge holds significant importance in the financial system of Kazakhstan, serving as the primary medium of exchange for goods and services, as well as for international trade and investment activities.
