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Belarusian ruble
беларускі рубель (Belarusian)
белорусский рубль (Russian)
National Bank of Belarus, 1992 50 kapeykas reverse 500 rubles (2000)
National Bank of Belarus, 1992 50 kapeykas reverse 500 rubles (2000)
ISO 4217 Code BYR
User(s)  Belarus
Inflation 8.4%
Source The World Factbook, 2007 est.
Pegged with Basket of Currencies:
Euro = Br 3832.38
Russian Ruble = Br 88.11
U.S. dollar = Br 2858
Average Basket = Br 975.49 [1]
Subunit
1/100 kapeyka
Symbol BYR symbol.svg
Plural The language(s) of this currency belong(s) to the Slavic languages. There is more than one way to construct plural forms. See article.
Coins None
Banknotes
Freq. used 10, 20, 50, 100, 500, 1000, 5000, 10 000, 20 000, 50 000, 100 000 rubles
Central bank National Bank of the Republic of Belarus
Website www.nbrb.by

The ruble (Belarusian: рубель, Gen. plural: рублёў) is the currency of Belarus. The symbol for the ruble is Br and the ISO 4217 code is BYR. It is divided into 100 kapeykas (капейка, Gen. plural: kapeyek).

Contents

History

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First ruble, 1992–2000

The initial necessity for Belarusian currency was purely technical. The fast pace of inflation in the late Eighties and early Nineties required Belarusian banks to have ever increasing cash for daily operations. The breakup of supply chain in the former Soviet enterprises demanded that goods be bought and sold on the market, often requiring cash settlement. The Belarusian unit of the USSR State Bank did not have capacity nor the license to print Soviet banknotes, hence the government decided to introduce their own national currency to ease up the situation with cash. From the collapse of the Soviet Union until May 1992, the Soviet ruble circulated in Belarus alongside with the Belarusian ruble. New Russian banknotes also circulated in Belarus but they were replaced by notes issued by the National Bank of the Republic of Belarus in May 1992.[2] The first post-Soviet Belarusian ruble was assigned the ISO code BYB and replaced the Soviet currency at the rate of 1 Belarusian ruble = 10 Soviet rubles. It took about two years before the ruble became the official currency of the country.[2]

Second ruble, 2000-

In 2000, a second ruble was introduced (ISO code BYR), replacing the first at a rate of 1 new ruble = 1000 old rublei. This was redenomination with 3 zeros chopped off. Only banknotes have been issued, with the only coins issued being commemoratives for collectors.[2]

Monetary integration with Russia

From the beginning of his presidency, Alexander Lukashenko began to suggest the idea of integration with Russian Federation and to undertake steps in this direction. From the beginning, there was also an idea of introducing a united currency for the Union of Russia and Belarus. Art. 13 of the 1999 "Treaty of Creation of the Union State of Russia and Belarus" foresaw a unified currency. Discussions about the Union currency has continued past the 2005 implementation goal set by both nations.[3] Starting in 2008, the Central Bank of the Republic of Belarus announced that the ruble will be tied to the United States dollar instead of the Russian ruble.[4 ] "Stanislav Bogdankevich, a former bank chairman, called the decision political, saying it was tied to Belarus' open displeasure at Russia's decision to hike oil and gas export prices to Belarus earlier this year. Belarus' economy is largely Soviet-style, centrally controlled and has been heavily reliant on cheap energy supplies from Russia".[4 ]

Rumours of the third ruble

It seemed that by the end of 2009 we'd see a monetary reform (1:1000) in Belarus.[5] However, this has been officially denied by a representative of the NBRB[6].

Banknotes

First ruble

In 1992, banknotes were introduced in denominations of 50 kapeykas, 1, 3, 5, 10, 25, 50, 100, 200, 500, 1000 and 5000 rublei. These were followed by 20,000 rublei in 1994, 50,000 rublei in 1995, 100,000 rublei in 1996, 500,000 rublei in 1998 and 1 and 5 million rublei in 1999.

Second ruble

In 2000, notes were introduced in denominations of 1, 5, 10, 20, 50, 100, 500, 1000 and 5000 rublei. In 2001, higher denominations of 10,000, 20,000 and 50,000 rublei were introduced, followed by 100,000 rublei in 2005. There are no coins or banknotes issued in kapeykas.

2000 Series[2]
Image Value Dimensions Main Color Description Date of
Obverse Reverse Obverse Reverse printing issue annul
Belarus-2000-Bill-1-Obverse.jpg Belarus-2000-Bill-1-Reverse.jpg 1 ruble 110 x 60 mm Green The building of the National Academy of Sciences of Belarus Denomination in figures 2000 January 1, 2000 January 1, 2004
Belarus-2000-Bill-5-Obverse.jpg Belarus-2000-Bill-5-Reverse.jpg 5 rubles Rose-red View of the Trayetskaye Pradmyestsye in Minsk July 1, 2005
Belarus-2000-Bill-10-Obverse.jpg Belarus-2000-Bill-10-Reverse.jpg 10 rubles Light blue The building of the National Library of Belarus
Belarus-2000-Bill-20-Obverse.jpg Belarus-2000-Bill-20-Reverse.jpg 20 rubles 150 x 69 mm Olive-yellow The building of the National Bank of Belarus The interior of the building of the National Bank of Belarus
Belarus-2000-Bill-50-Obverse.jpg Belarus-2000-Bill-50-Reverse.jpg 50 rubles Orange-red The Kholm Gate - fragment of the Memorial Brest Hero-Fortress The main entrance to the Memorial Brest Hero-Fortress
100-rubles-Belarus-2000-f.jpg 100-rubles-Belarus-2000-b.jpg 100 rubles Light green The National Academic Great Opera and Ballet House of Belarus in Minsk Scene from ballet "Favourite" by E.A. Hlebau
Belarus-2000-Bill-500-Obverse.jpg Belarus-2000-Bill-500-Reverse.jpg 500 rubles 150 x 74 mm Light brown The Republican Trade Unions' Palace of Culture in Minsk Architectural decorations on the Republican Palace of Culture of Belarus
1000-rubles-Belarus-2000-f.jpg 1000-rubles-Belarus-2000-b.jpg 1000 rubles Light blue The National Museum of Arts of Belarus in Minsk Fragment of the picture "Portrait of the wife with flowers and fruits" by I. Khrutski
5000-rubles-Belarus-f.jpg 5000-rubles-Belarus-b.jpg 5000 rubles Light violet The Palace of Sports in Minsk Image of the "Raubichy" sporting complex
10000-rubles-Belarus-2000-f.jpg 10000-rubles-Belarus-2000-b.jpg 10 000 rubles Pink Panorama of Viciebsk city Summer amphitheatre in Viciebsk April 16, 2001
20000-rubles-Belarus-2000-f.jpg 20000-rubles-Belarus-2000-b.jpg 20 000 rubles Grey Rumiancev's and Paskevich's palace in Homyel A view of the palace from A. Idzkouski's picture in Homyel 2002
50000-rubles-Belarus-2000-f.jpg 50000-rubles-Belarus-2000-b.jpg 50 000 rubles Sky blue A castle in the settlement of Mir, Karelichy district, Hrodna Voblast Decorative collage of architectural elements of Mir Castle December 20, 2002
100000 rubles Belarus 2000 obverse.jpg 100000 rubles Belarus 2000 back.jpg 100 000 rubles Orange The Radziwills' Castle in the town of Niasvizh View of the Radziwills' Castle in Niasvizh from a painting by the Belarusian artist Napoleon Orda July 15, 2005
These images are to scale at 0.7 pixels per millimeter. For table standards, see the banknote specification table.

Historical exchange rates

Belarusian rublei per currency unit[7]
2004 2005 2006 2007
Euro 2683.75 2681.49 2691.88 2937.06
Russian ruble 75.00 76.14 78.90 83.91
United States dollar 2160.24 2153.81 2144.56 2146.07
Source: 2008, 2007, 2006, 2005, and 2004
Current BYR exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD RUB
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD RUB
From XE.com: AUD CAD CHF EUR GBP HKD JPY USD RUB
From OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD RUB

See also

References

External links


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