Kazakhstan Phases Out 5000 Tenge Banknotes: Free Exchange from Sept 24
Kazakhstan is phasing out its 5000 tenge banknotes of the 2011 issue. From September 24, these notes will no longer be accepted for payments. However, the National Bank and various banks have set up systems for their exchange.
The National Bank will exchange these old banknotes indefinitely at its branches, free of charge. Additionally, the People's Cooperative Bank of Kazakhstan supports this initiative, offering unlimited and free exchange in its branches.
The National Bank, along with the Association of Financial Organizations of Kazakhstan, has established cash desks in bank branches for commission-free exchange. However, second-tier banks and JSC 'Kazpost' can set their own commission fees for this service. There are no restrictions on the volume of exchange.
Starting September 24, 5000 tenge banknotes of the 2011 issue will no longer be valid for payments. The National Bank and several banks have set up systems for their exchange, either free of charge or with optional commission fees. This move aims to modernize Kazakhstan's currency and improve its circulation.
