Tenge Now Has a Constitutional Status as the National Currency of Kazakhstan

Tenge Now Has a Constitutional Status as the National Currency of Kazakhstan

Today, the new Constitution, adopted by a national referendum, took effect in Kazakhstan. The updated Basic Law officially fixes the tenge as the sole national currency, and the right to issue the tenge belongs only to the Republic of Kazakhstan.

Legal status of the tenge as a national currency, as well as a means of payment and savings, secures Kazakhstan's monetary sovereignty. This guarantees that only the state can issue the tenge and highlights the key role of the tenge in ensuring the economic independence of the country.

The National Bank of the Republic of Kazakhstan emphasizes strategic and institutional significance of this step.

Constitutional status of the currency fortifies the legal basis for long-term monetary policy. Fixation of the state's right to issue the national currency is designed to ensure financial stability and is intended to fortify confidence of citizens, businesses and international partners in the national monetary system. Together, these new legal frameworks lay a solid foundation for the country's sustainable economic development and enhanced macroeconomic stability.

Guided by the new constitutional norms, the National Bank will continue its consistent policy designed to curb inflation, ensure price stability, and enhance resilience of Kazakhstan's financial system.

For more details mass media can contact: 8 (7172) 77–52–10 e-mail: press@nationalbank.kz www.nationalbank.kz

Tenge Now Has a Constitutional Status as the National Currency of Kazakhstan

568.5 Кб

Date of publication: