There are two forms of the monetary depreciation:

Internal is a depreciation in respect to the goods on domestic market, i.e. the increase of prices;

External is a depreciation of money in respect to the foreign currency, i.e. an exchange fall (drop) of the national currency.

Credit money is a collective term appeared on the basis of the private individuals’ or government’s real obligations substitution. It occurred due to the money function as a mean of payment where money acts as an obligation which should be redeemed by a real money according to a due date. Credit money includes bills, banknotes, cheque, electronic money.

Banknote is a perpetual debenture guaranteed by the Central Bank of the State. Initially the banknotes had a gold guarantee of exchange onto the gold. They are issued with a strictly defined denomination and in principle are concerned as a national money on all the State territory.

Till 1990 in the Soviet Union circulated as the treasury notes so the USSR banknotes. The first included the monetary units with small denominations of 1, 3 and 5 rubles issued by the Treasury and marked as the «treasury notes». The notes with nominations more than 10 rubles were issued by the USSR State Bank, i.e. were the banknotes.

Nowadays the monetary units in Kazakhstan are issued only by the National Bank of the Republic of Kazakhstan (under the RK law dated from March 30, 1995 № 2155 «About the National Bank of the Republic of Kazakhstan»).

According to this law the banknotes and coins issue, their circulation organization and withdrawal from the circulation on the territory of Kazakhstan are performed only by the National Bank of RK exceptionally. The banknotes and coins emission to the circulation is performed by the National Bank by means of their sale to private and legal individuals.

There are also the following statutes and regulations in respect to the banknotes issue, circulation and withdrawal: the management decree of the National Bank of the Republic of Kazakhstan from December 12, 2005 № 163 «About the adoption of regulations of sale and purchase of national currency banknotes and coins by the National Bank of RK»; the management decree of NB RK from December 26, 2003 № 477 «About the adoption of regulations of the national currency of RK banknotes and coins fitness for use determination)).

Bill of credit. The bills and cheques are the earliest forms of non-cash money invented by bankers. The archeologists discovered the evidences of the fact that the prototypes of such monetary documents were used by merchants and bankers of the Ancient Babylon, i.e. 20 centuries B.C.

However the true story of bill is linked with the capitalistic relations development. Thus the country of a transfer bill’s origin is considered Italy where in the XII-XIII^>th centuries in the most prevailing conditions of the economical, political and geographical factors the capitalism and trade ties with other countries developed. It is a necessity of trade turnover and market trade development that brought into the world the bill of credit.

The bill of credit is a debitor’s written absolute commitment to pay a definite sum when and where due. An absoluteness of the bill differences it fundamentally from an ordinary receipt where usually the reasons and terms of the future payment are denoted. But the bill doesn’t denote the factors according to which a person who draws out a bill (a bill drawer) is obliged to pay the denoted sum to the bill holder.