Belarusian ruble


Belarusian ruble

Infobox Currency
currency_name_in_local = беларускі рубель be icon
image_1 = Belarus-1992-Bill-0.5-Obverse.jpg
image_title_1 = National Bank of Belarus, 1992 50 kapeek reverse
image_2 = Belarus-2000-Bill-500-Obverse.jpg
image_title_2 = 500 rublei (2000)
iso_code = BYR
using_countries = BLR
inflation_rate = 8.4%
inflation_source_date = " [https://www.cia.gov/library/publications/the-world-factbook/fields/2092.html The World Factbook] ", 2007 est.
pegged_with = U.S. dollar = Br 2111
subunit_ratio_1 = 1/100
subunit_name_1 = kapeyka
symbol =
plural_slavic = Y
used_coins = None
frequently_used_banknotes = 10, 20, 50, 100, 500, 1000, 5000, 10 000, 20 000, 50 000, 100 000 rublei
rarely_used_banknotes =
issuing_authority = National Bank of the Republic of Belarus
issuing_authority_website = www.nbrb.by

The ruble ( _be. рубель, plural forms: рублі and 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 "kapeek" (капеек, singular: kapeyka).

History

First ruble, 1992–2000

From the collapse of the Soviet Union until May 1992, the Soviet ruble circulated Belarus. 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.cite web | author=National Bank of the Republic of Belarus | url=http://www.nbrb.by/Natiobank/Banknotes/ENG/index.html | title=NBRB banknotes | accessdate=2006-12-30] 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 rublei. It took about two years before the ruble became the official currency of the country.

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.

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. [cite news | title= Will rouble become Belarus currency? | url= http://newsfromrussia.com/main/2003/12/02/51602.html | publisher= Pravda.ru | date=2003-12-02 | accessdate=2007-10-01 ] 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. [cite news | title= Belarus to link currency to dollar | url= http://www.boston.com/news/world/europe/articles/2007/08/15/belarus_to_link_currency_to_dollar/ | publisher= Associated Press | date=2007-08-15 | accessdate=2007-10-01 ] "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". [cite news | title= Belarus to link currency to dollar | url= http://www.boston.com/news/world/europe/articles/2007/08/15/belarus_to_link_currency_to_dollar/ | publisher= Associated Press | date=2007-08-15 | accessdate=2007-10-01 ]

Banknotes

First ruble

In 1992, banknotes were introduced in denominations of 50 kapeek, 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.

econd 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 kapeek.

Historical exchange rates

ee also

* Economy of Belarus

References

External links

Standard numismatics external links
world_coin_gallery_1_url = Belarus
world_coin_gallery_1_name = Belarus
banknote_world_1_url = belarus
banknote_world_1_name = Belarus
dollarization_1_url =
dollarization_1_name =
gfd_1_url = Belarus
gfd_1_name = Belarus
gfd_data_1_url =
gfd_data_1_name =
show_gfd_excel = Y

* [http://www.nbrb.by/engl/statistics/Rates/RatesDaily.asp National bank of the Republic of Belarus - Official Exchange Rates (English)]


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