1991
December 16
The Constitutional law "On the State Independence of the Republic of Kazakhstan" was adopted
Pillar of Stability
Tenge is the economic basis of independence, a symbol of sovereignty, a part of the modern history and future of Kazakhstan.
In 2023, Kazakhstan's national currency, the tenge, celebrated its 30th anniversary.
The history of the national currency
Creating the National Currency of Independent Kazakhstan
The State Commission created a working group for the introduction of the national currency. The group was led by the Governor of the National Bank, Daulet Sembayev.
The design of the first tenge banknotes was entrusted to renowned artists and designers: Timur Suleimenov, Mendibay Alin, Agimsaly Duzelkhanov, Dosbol Kasymov, and Khayrulla Gabjalilov.
The work began with the study of archival documents on the history of the production and circulation of banknotes in Kazakhstan in the earliest period of its history.
What were the first banknotes like?
The first banknotes are informally referred to as "Portraits". A distinctive feature of the first tenge was the depiction of outstanding individuals who made significant contributions to the development of science, art, culture, and the education of the state.
On the reverse side of the banknotes, natural landscapes of Kazakh land were featured: Burabay, Zailiyskiy Alatau, Lake Balkhash, as well as famous mosques and mausoleums.
Coin Production in Kazakhstan
In 1992, the Kazakh Mint was established on the basis of the Ulba Metallurgical Plant in Ust-Kamenogorsk. In 1993, the first industrial batch of circulation coins was issued.
Today, the Kazakhstan Mint is a member of the Association of Mints. This association invites mints that are flagships of the industry, such as the Royal Mint of England, which has a thousand-year history.
Banknote production in Kazakhstan
Banknotes (and coins) of Kazakhstani tenge are produced domestically.
In early 1994, a contract was signed for the construction of a turnkey Banknote Factory in Kazakhstan.
Due to time constraints, the design and construction were carried out simultaneously, and the installation of technological equipment began even during the finishing works. The official opening of the Banknote Factory took place on May 19, 1995.
In the same year, more than 83 million banknotes were issued. A year later, over 104 million banknotes were issued, and the Banknote Factory’s output neared its design capacity.
Later, in 1997, in addition to the main products, the Banknote Factory launched the production of passports and identity cards of citizens of the Republic of Kazakhstan.
The design of banknotes and coins is developed by specialists of the National Bank.
Why is the tenge one of the most secure currencies in the world?
For the production of high-tech and high-quality products, the Banknote Factory uses various printing methods that exist in the world, as well as all kinds of combined printing methods.
Protected paper for banknotes and other secure printed products, inks, holographic foil with security features, and substrates based on polymer and plastic are among the protective elements used in the tenge.
For example, a 20 000 tenge banknote of the 2022 sample has 25 protective elements
The National Bank of Kazakhstan continuously works on improving and utilizing the latest developments in security features when issuing new anniversary and commemorative banknotes
Digital Tenge
The digital tenge is the third form of money. It will not replace, but rather complement existing forms of money: cash and non-cash. The digital tenge combines the features of traditional money, whether cash or on bank accounts, and at the same time represents a promising innovation that will effectively solve many problems in public finance and international payment turnover.
Similar to cash tenge, the Digital tenge will be issued by the National Bank.
In 2021, the technological feasibility of the digital tenge concept was confirmed, and in 2023, the first bank card in the digital currency of the central bank was issued in Kazakhstan.
The introduction of the central bank digital currency in Kazakhstan will be gradual.
