Friday, July 1, 2016

Belerus redenominated it's currency, dropping four zeros








The Belarusian ruble was redenominated with the existing notes (2000 series) exchanged for new ones (2009 series) at a rate of 10,000:1. A total of seven denominations (5, 10, 20, 50, 100, 200, and 500 rublei) were introduced on 1 July 2016.

The theme of the new notes is “Belarus is my country,” with each denomination dedicated to one of the regions of Belarus and the city of Minsk: 5 rubles dedicated to Brest region, 10 rubles to Vitebsk region, 20 rubles to Gomel region, 50 rubles to Grodno region, 100 rubles to Minsk region, 200 rubles to Mogilev region, and 500 rubles to the city of Minsk.

The National Bank of the Republic of Belarus ordered the "new" notes from De La Rue in 2008, but due to the global economic crisis of the time, the redenomination was postponed and the freshly printed notes were stored in the bank's vaults. As such, the notes to be issued in 2016 bear the series date of 2009 and the facsimile signature of Petr P. Prokopovich, the then chairman of the board of the bank. Also, the new 50-ruble note carries an inscription which is inconsistent with currently applicable Belarusian spelling rules. These inconsistencies will be addressed as new notes are ordered from the printer.

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