The Kazakhstani tenge is the official currency of Kazakhstan, introduced in 1993 after the country gained independence from the Soviet Union. It is abbreviated as KZT and is subdivided into 100 tiyn. The tenge is issued by the National Bank of Kazakhstan and is used for all financial transactions within the country. The currency symbol for the tenge is ₸. The exchange rate of the tenge can fluctuate based on various economic factors, including oil prices, as Kazakhstan is a major oil producer. The tenge plays a crucial role in the country's economy and international trade.