Shops to Stop Using 5000 Tenga Banknotes by Late September
The National Bank of Kazakhstan has announced a six-month period for the exchange of old 5000 tenge banknotes, starting from the introduction of the new banknotes with the "Saksy Style" design in December 2023. During this period, the old banknotes will remain legal tender and mandatory for acceptance.
The exchange process is simple and convenient. Residents of Kazakhstan can exchange their old 5000 tenge banknotes for new ones at any regional branch of the National Bank, regardless of whether the notes have been unused for a year, two, or three years. This exchange can be done at any time after the new banknotes enter mass circulation in March 2024.
Timur Suleimenov, the chairman of the National Bank, reassured the public, stating that there is no need for residents to worry about the exchange of old banknotes. He further added that the National Bank's branches will exchange old banknotes for new ones indefinitely.
After September 24, 2025, all banks and Kazpost will continue to exchange old 5000 tenge banknotes for new ones within three years. This means that even after the period of parallel circulation ends, the old banknotes can still be exchanged for new ones.
It is important to note that the old 5000 tenge banknotes are not being withdrawn from circulation. Instead, they go out of circulation as banks deposit them with the National Bank. Banknotes of the 2011 issue will remain a legal tender and mandatory for acceptance until September 24, 2025.
The new 5000 tenge banknotes were released in December 2023, marking a significant change in the country's currency design. The old banknotes can still be exchanged for new ones after they are issued, providing residents with ample time to adjust to the new banknotes.
In conclusion, the National Bank of Kazakhstan has ensured a smooth transition for the exchange of old 5000 tenge banknotes. Residents are encouraged to exchange their old banknotes at their convenience, whether at the National Bank's regional branches or after September 24, 2025, at any bank or Kazpost office.
