Belarus to issue redenominated banknotes from 1 July 2016

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In November 6, 2015
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Source:  National Bank of Belarus

PRESS RELEASE – 05/11/2015  On redenomination of the Belarusian ruble since July 1, 2016

Beginning on July 1, 2016, the legal tender of the Republic of Belarus – the Belarusian ruble – will be redenominated. A corresponding decision was taken by Edict of the President of the Republic of Belarus No.450 dated November 4, 2015.

The redenomination will be carried out by means of substitution of the banknotes in circulation of the 2000 series by the banknotes and coins of the 2009 series in proportion of 10,000 Belarusian rubles of the 2000 series per 1 Belarusian ruble of the 2009 series. That is, having regard to the chosen increase in the scale of the Belarusian ruble value (1:10,000), the current banknote of the lowest denomination – 100 Belarusian rubles – will be replaced by the lowest denomination of the new currency line – 1 copeck.

A total of seven denominations of banknotes – 5, 10, 20, 50, 100, 200, and 500 rubles – and eight denominations of coins – 1, 2, 5, 10, 20, and 50 copecks, and 1 and 2 rubles – will be put into circulation beginning on July 1, 2016.

The general concept of the new banknotes design meets the motto “Belarus is my country”. Each banknote is dedicated to one of the regions of Belarus and the city of Minsk.

The currently circulating banknotes of the 2000 series will be the sole legal tender for making cash settlements in the Republic of Belarus till July 1, 2016.

From July 1, 2016 to December 31, 2016, the banknotes of the 2000 series and the banknotes and coins of the 2009 series will be in parallel circulation and subject to obligatory acceptance without restriction in all kinds of payments performed by all economic entities.

During the next five years – from January 1, 2017 through December 31, 2021 – the currency units of the 2000 series will be exchanged for the currency units of the 2009 series in any sum without restriction and charging commission.

BYR2016

Image: National Bank of Belarus