Baku, Azerbaijan, Dec. 1
By Elena Kosolapova - Trend:
Kazakhstan's National Bank has said it starts issuing a bill at nominal value of 20,000 tenges from December 1.
The bill is the largest denomination of the tenge - Kazakhstan's national currency.
Until now, bills at a nominal value of up to 10,000 tenges have been used in Kazakhstan.
National Bank also extended the timeframe for gradual withdrawal of 2,000, 5,000 and 10,000 bills, issued in 2006, up to October 3, 2016.
Until that date, these bills will be used for payments and banking operations without any restrictions.
From October 4, 2016 to October 3, 2017 these bills should be exchanged in any second-tier bank in Kazakhstan.
After this period, all the remaining 2,000, 5,000 and 10,000 tenge bills, issued in 2006, will be accepted for exchange at all the branches of the National Bank of Kazakhstan.
On October 4, 2020, these bills will become invalid.
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