KZT

DEFINITION of 'KZT'

The currency abbreviation or currency symbol for the Kazakhstan tenge (KZT) is for the currency of Kazakhstan. The tenge is made of 100 tiyn and is often presented with the symbol (__). The name of the currency denotes a set of equal scales.

BREAKING DOWN 'KZT'

The tenge was first seen in 1993, replacing the Russian ruble. The first tenge coins were actually minted in Germany, and a mint for paper currency began operation within the country in 1995. This mint printed a new, much more decorative series of banknotes in 2006.

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