National Bank’s Decision To Remove From Circulation Banknotes Of 2006 Caused Resonance Among The Population

Free Floating Rate For Tenge Was Justified - Nazarbayev

KazWorld.info – National Bank’s Decision To Remove From Circulation Banknotes Of 2006 Caused Resonance Among The Population. Small shops, gas stations and supermarkets refuse to accept the banknotes of 2000 and 5000 tenge nominal issued in 2011 and 2008 respectively.

“The trade centers, the shops do not accept the banknotes issued in 2011 and 2008. The clients complain, they are indignant. We explain them that these currencies are valid, but they don’t understand. Clients come and return the money which we give them,” said employee of one of commercial banks of Almaty.

She referred to the example of pensioners who get the pension in the limited service branches.
“We are mainly working with the population. They get the pension, they come to shops, they want to buy something, but their banknotes are not accepted. The scandal moves to our departments because of that,” said the employee of the limited service branch.

Remind, that 2000, 5000 and 10,000 tenge banknotes issued in 2006 will be withdrawn from circulation starting from October. Only banknotes with the new design which are already in circulation will remain. The old notes can be exchanged free of charge and without commissions at any branch of the National Bank. Moreover, the main regulator of the country will accept such notes until October 2020. Old banknotes will be valid at second-tier banks throughout the year.

National Bank's Decision Of Withdrawn Of Some Banknotes Of 2006 Sample Caused Resonance Among The PopulationKazakhstani tenge is the currency of Kazakhstan. It is divided into 100 tïın (тиын, also transliterated as tiyin or tijin). The ISO-4217 code is KZT.

The National Bank of Kazakhstan issued banknotes of new series in 2006. They have the same values as the previously existed ones.

The 2006 series is far more exotic than its predecessors. The obverse is vertical and the denomination is written in Kazakh. All denominations depict the Astana Bayterek monument, the flag of Kazakhstan, the Coat of arms, the handprint with a signature of president Nursultan Nazarbayev and fragments of the national anthem. The main differences across each denomination are only the colours, the values, the underprint patterns.

On the contrast, the reverses are more differentiated. The value is written in Russian. Each denomination shows a unique building and geography of Kazakhstan in the outline of Kazakhstan border.

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