The currency of Kazakhstan is the Kazakhstani Tenge, abbreviated as KZT. Introduced in 1993, the Tenge replaced the Soviet Ruble following Kazakhstan's independence. The Tenge is subdivided into 100 tiyn. The National Bank of Kazakhstan is responsible for the issuance and regulation of the currency, aiming to maintain the stability of the nation’s economy. While the Tenge is primarily used for domestic transactions, its exchange rate against foreign currencies can fluctuate based on market conditions, including oil prices, as Kazakhstan's economy is heavily influenced by its energy sector.