Kazakhstani tenge
The tenge (Kazakh: теңге, teñge) is the currency of Kazakhstan. It is divided into 100 tïın (тиын, also transliterated as tiyin or tijin). The ISO-4217 code is KZT.
History
After the collapse of the Soviet Union, attempts were made by most republics to maintain a common currency. Some politicians were hoping to at least maintain "special relations" among former Soviet republics, or the "near abroad". Other reasons were the economic considerations for maintaining the ruble zone. The wish to preserve strong trade relations between former Soviet republics was considered the most important goal.
The break-up of the Soviet Union was not accompanied by any formal changes in monetary arrangements. The Central Bank of Russia was authorized to take over the State Bank of the USSR (Gosbank) on 1 January 1992. It continued to ship USSR ruble notes and coins to the central banks of the fourteen newly independent countries, which had formerly been the main branches of Gosbank in the republics.
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