Reading
This sign corresponds to vowel sounds  і and ы of modern Kazakh language. For example, in word ( ) кісі (guest) is read as і, in word ( ) ұлы (great) is read as ы.
Differentiation
The sign as і or ы can be distinguished paying attention to double consonants following by it. When the sign is next to the hard consonant it is read as muffled ы. In voice position it is read as i.
Place
It is often written in the end of the word. Very rarely in the beginning and in the middle of the word, but it occurs. 
Transcription
Latin letters i and ï are used in transcription. For example, , [kisi] кісі (guest); [oγlï] ұлы (great).