The Kazakhstani tenge

The tenge (symbol ₸, code KZT) is the national currency of Kazakhstan, introduced on 15 November 1993 to replace the Soviet ruble. It is issued by the National Bank of Kazakhstan and subdivided into 100 tiyn.

The word “tenge” comes from a Turkic root meaning “balance” or “weight”, echoing the silver coins used across the medieval steppe. After independence, Kazakhstan was the last post-Soviet state to leave the ruble zone — and the first in Central Asia to issue its own money.

Today the tenge floats against the world's major currencies. Its value is closely tied to oil revenue and to the economic fortunes of neighbouring Russia, which has made for a volatile history of exchange rates.