That's it. In Belarus officially, with tomorrow, there will be a denomination Belarusian ruble. We will turn from millionaires into owners of hundreds and thousands of rubles. And there will also be coins. We have collected in this text the main points that you need to know about the denomination. Of course, this is not the last text, we will continue to inform our readers - while we get used to it and take a closer look at the new money. Now we have collected answers to the most important issues which are important for everyone to know.
What's going on?
This is the third time in the history of the country's independence that denomination has taken place in Belarus. For the first time (in 1994), one zero was removed from our bunnies and squirrels - and only in the mind. After all, on the bills themselves, we also mentally added one zero before. The second time the denomination occurred was in 2000, when three zeros were removed from the rubles. That is, 100 thousand became 100 rubles. Now the Belarusian ruble is denominated 10 thousand times. That is, the previous 10 thousand now turn into 1 ruble. In addition, not only new banknotes appear (in denominations of 5, 10, 20, 50, 100, 200 and 500 rubles), but also coins (1, 2, 5, 10, 20, 50 kopecks, 1 and 2 rubles).
We must remember: denomination is an exclusively technical operation to trim off extra zeros and introduce new banknotes. It does not affect inflation, exchange rates, prices, salaries, etc.
How long will all this last?
From July 1 until the end of 2016, the official units of payment will be both new and old money. That is, you can pay with them in shops, cafes, markets, gas stations, taxis, and so on. You can also use them to buy currency at the bank. And you will be required to accept them.
From January 1, 2017 to December 31, 2019, it will be possible to exchange old money for new ones in all banks in the country and at the National Bank. From January 1, 2020 to December 31, 2021, old money can only be exchanged at the National Bank. And from January 2, 2022, old money will no longer be exchangeable anywhere.
When will the cards be available?
The official position is this: from 8 a.m. on July 1, card payments should proceed without problems. However, some banks advised on the eve of the redenomination: stock up on a small amount of cash so that it will last for the whole weekend. Specialists of the National Bank, the Bank Processing Center, and banks will do everything possible to avoid failures in payments with plastic cards and set up the system as quickly as possible. It is clear that nuances cannot be avoided. If there are malfunctions in the terminals, specialists will go to the site on July 1 and set them up. If your card payment does not go through, call the bank that issued it.
By the way, in the morning approximately every third ATM in the country will already be loaded with new money. And they can be removed using a card.
When will all ATMs have new money?
Approximately every third ATM will have new money on July 1. Belarusbank, for example, promises to load the machines with new banknotes on July 1 during the day. In general, by the end of July, all ATMs will be issuing new banknotes. The National Bank says: most likely, the replacement of old money with new ones at ATMs will happen even faster than in a month. A complete list of ATMs that issue new rubles can be found on your bank’s website.
How to avoid trouble?
What you need to remember about denomination: it is a technical process. After all, you can pay with old money anywhere before the end of the year. Gradually, new banknotes will appear in your wallets. Take your time. Gradually, when you go shopping, you will be given change in new bills and coins.
Where, if necessary, can I change money?
If you have people around you who are panicking about denomination, help them deal with their fears. For example, older people and children will not feel very confident with new money. Talk to them, explain all the nuances, practice transferring old money into new ones together. And most importantly, explain that under no circumstances should you exchange old money for new money from your own hands. There are no people in the country who would go door to door or even stand at banks and offer to change money. They can only be exchanged (!) at a bank.
What will happen to bank deposits, loans, salaries and pensions?
The answer is simple: absolutely nothing. From July 1, zeros will simply be cut off from your deposits, including those on cards. Conditionally: now you have 5 million 347 thousand rubles on your card. From July 1, checking your account at an ATM, information kiosk or using mobile application, you will see the following amount: 534 rubles and 70 kopecks. If you now owe the bank 2 million rubles on a loan, then after July 1 you will owe it 200 denominated rubles. If you now have 10 million under your pillow, then from July 1 it will be 1000 denominated rubles. Moreover, money will not lose its value at all - after all, all prices and exchange rates will also lose four zeros on day X. For example, a dollar will cost more than 2 rubles (depending on the exchange rate set by the National Bank), and a package of milk, which now costs 13 thousand, will cost 1 ruble and 30 kopecks.
Nothing will happen to bonus cards due to denomination either. We have been living with prices that are multiples of 100 rubles for a long time. And from these amounts various points and discounts on bonus cards are awarded. Everything will happen in the same mode. Only now the amount will be a multiple not of 100 rubles, but of 1 kopeck. By the way, if a store, gas station, beauty salon, etc. refuse to accept your bonus card and refer to a denomination, that's illegal. This is a personal decision of the trade or service provider to temporarily not accept a bonus card.
What prices will everyone write at now?
Already from April 1, double price tags began to appear in stores - in old and new money. From July 1, all price tags must be double. If you see the price tag only in old money, this is a violation.
However, the price tag may only be in new money. But to do this, the same store must take care to warn customers that all prices are written in new money. So that people don't get confused.
Banks should do the same. If the exchange office has an electronic display that cannot be reconfigured so that it shows two amounts at once (in the old denomination and in the new one), then only the new option can be shown. Moreover, as for exchange rates, four decimal places will be indicated. For example, the official dollar exchange rate on July 1 is 2.0053 Belarusian rubles.
AND AT THIS TIME
HOW TO NOT GET INTO TROUBLE...
...with payments
From July 1, you will have to pay for utilities, telephone, Internet, TV, credit, etc., taking into account denomination. For example, you used to deposit 20 thousand rubles onto your phone, but from the first day you will need to deposit 2 rubles. Previously, you paid 367 thousand rubles for an apartment, but from the 1st it will be 36 rubles and 70 kopecks.
Advice: Don't rush, especially at first. And read every line carefully.
...in stores
Until the end of 2016, it will be possible to pay with both new and old banknotes. You go to the store and buy groceries for, for example, 27 rubles and 60 kopecks (276 thousand rubles in old money). You give the cashier 300 thousand in old banknotes, and in return you receive a coin of 2 rubles and two more coins of 20 kopecks each. And the cashier can also give you change like this: 20 thousand rubles with an old bill and two coins of 20 kopecks. It's easy to get confused.
Advice: Try to pay with the same bills: either old or new.
...in the markets
...in a taxi
The capital's taxi drivers, before others, were outraged by the very fact of denomination. And now many people don’t have a few thousand rubles in change. Like, this is a small thing. And there will also be coins. Where should we put them? In fact, taxi drivers must adapt - coins become the official unit of payment in Belarus from July 1. And it's not such a penny. The same 2 rubles in coins is 20 thousand in old banknotes. Essentially, you will agree.
Advice: Stand your ground. If you are told that 74 kopecks are not available for change, ask for change in a cafe, store, or gas station. In some services you can call a car with a terminal.
...in cafes, bars, restaurants
The same as in stores: we carefully read the price tags, look for errors and point them out to waiters and administrators. Yes, a trip to a familiar cafe may now take a long time - at least, we will study the menu for a long time. There may also be problems with delivery. How much should you tip now?
Advice: Carefully study the price tags and carefully count your change. Practice how to calculate tips at home.
BY THE WAY
Save your denomination calculator! He instantly converts new money into old money, into dollars, euros and Russian rubles.
November 4, Minsk /Tatyana Polezhay - BELTA/. In Belarus from July 1, 2016 denomination will be carried out. As BELTA was informed by the press service of the President of the country, on November 4, Alexander Lukashenko signed decree No. 450 “On the denomination of the official currency of the Republic of Belarus.”
The document decides to carry out from July 1, 2016 denomination of the official monetary unit of the Republic of Belarus and make a replacement until December 31, 2016 circulating banknotes of the 2000 sample in the form of banknotes to banknotes of the 2009 sample in the form of banknotes and coins in the ratio of Br10 thousand in the 2000 sample to Br1 in banknotes of the 2009 sample.
From July 1, 2016, new money will appear in Belarus. What the new money will look like, whether people will lose their deposits, whether interest rates on loans will remain the same, whether the real sector of the economy will suffer - representatives of the National Bank answered these and other questions at a press conference dedicated to the denomination of the Belarusian ruble.
The leadership of the National Bank emphasized that the denomination of the national currency is a purely technical process, which involves the replacement of banknotes of the 2000 model with banknotes of the 2009 model.
In total, from July 1, 2016, seven denominations of banknotes will be issued into circulation - 5, 10, 20, 50, 100, 200 and 500 rubles, and eight denominations of coins - 1, 2, 5, 10, 20 and 50 kopecks, as well as 1 and 2 rubles.
Commemorative banknotes issued for circulation by the National Bank, from July 1, 2016, are subject to acceptance for all types of payments without restrictions in the ratio specified above, commemorative and bullion (investment) coins issued for circulation by the National Bank are subject to acceptance at face value for all types of payments without restrictions.
The decree establishes that 1 Belarusian ruble of the 2009 model is equal to 100 Belarusian kopecks of the 2009 model.
From July 1 to December 31, 2016 banknotes of the 2000 sample and banknotes of the 2009 sample are located in parallel circulation and are required to be accepted for all types of payments without restrictions in the above ratio.
In this case, it will be possible to exchange old banknotes for new ones:
from January 1, 2017 to December 31, 2019 inclusive– in the National Bank, banks and non-bank financial institutions of the Republic of Belarus;
from January 1, 2020 to December 31, 2021 inclusive– at the National Bank of the Republic of Belarus.
From January 1, 2020 to December 31, 2021 inclusive, old money can be exchanged for new money only at the National Bank. From January 1, 2022, banknotes of the 2000 model will be considered invalid.
From July 1 to December 31, 2016, manufacturers, sellers, suppliers, performers and their representatives, when providing consumers with information about the goods (works, services) offered, are required to indicate prices (tariffs) in banknotes of the 2000 model and banknotes of the 2009 model.
The National Bank was instructed to ensure the issuance of banknotes of the 2009 model and the withdrawal of banknotes of the 2000 model from circulation, taking into account the provisions of the decree.
Alexander Lukashenko spoke about the denomination of the Belarusian ruble and what the new money would be like on April 2, 2014, while communicating in Baranovichi with representatives of the workforce of OJSC “558 Aviation Repair Plant”.
Banknotes and coins of the National Bank of the Republic of Belarus, issued for circulation from July 1, 2016.
The general design concept of the new banknotes corresponds to the motto “My Country – Belarus”. Each banknote is dedicated to one of the regions of Belarus and the city of Minsk. The correspondence of the area to the denomination of banknotes is determined in alphabetical order. The image of a banknote in denomination of 5 rubles is dedicated to the Brest region, 10 rubles - to the Vitebsk region, 20 rubles - to the Gomel region, 50 rubles - to the Grodno region, 100 rubles - to the Minsk region, 200 rubles - to the Mogilev region, 500 rubles - to Minsk. The design of the new 2009 banknotes maintains continuity with the 2000 series of banknotes in terms of the use of images of architectural and urban planning monuments.
Eighteen years ago a denomination was carried out in Belarus. And a very strange one: non-existent zeros were removed from banknotes. However, this was far from the first denomination on the territory of Belarus. About how money depreciated from the mid-19th century to the Khrushchev reform. Today our story is about recent history.
In the nineties, Lenin's case began to smell like kerosene. The first republics (first autonomous Nakhichevan, then the Baltic ones) began to declare sovereignty. The Belarusian SSR declared its sovereignty on July 27, 1990. At the beginning of 1991, under the Prime Minister of the USSR Valentin Pavlov, another currency reform. Allegedly, to combat counterfeits, they began to exchange 50 and 100-ruble banknotes of the 1961 model for smaller money of the same issue or fifty-ruble and hundred-ruble bills of the new edition of 1991. Only three days were allotted for the exchange, and each citizen could exchange no more than a thousand rubles. This reform was announced 3 hours before it began, late in the evening of January 22. During these three hours, the most astute ones managed to change money at metro ticket offices and train stations, and send money transfers at station post offices, which were open until midnight. They also rushed by taxi to the airport and bought tickets to somewhere far away, as long as they were more expensive, and then, after the exchange was completed, they returned the tickets and returned the money with new bills. In addition to this first “shock therapy,” at the beginning of April, new prices were suddenly set, which turned out to be three times higher than before. And, of course, there were some new banknotes. First, they issued notes in 50 and 100 rubles, then in 200 rubles (on the very day when prices jumped), in the summer they issued updated banknotes in 1, 3, 5 and 10 rubles, in the winter - in 500 rubles, and in March 1992 They also printed a thousand dollar bill. Notes of 50 rubles and more still bore the stern profile of Lenin, who, as Internet jokers would now sarcastically, looked at Pavlov as if he were you-know-what. In July 1992, slightly modified banknotes of 50, 200, 500 and 1000 rubles were issued. The meaning of this remained unclear (by that time the former Soviet republics had already introduced their own currencies), but inflation as a result of Pavlov’s experiments in 1992 alone amounted to 2600%. Although, according to the party schedule, the country should have lived under cashless communism for 12 years.
The first independent money of modern Belarus appeared on May 25, 1992 - these were bills of 50 kopecks, 1, 3, 5, 10, 25, 50 and 100 rubles, on which various animals were depicted, from squirrels to bison.
Officially, 1 Belarusian ruble was equal to 10 Soviet rubles. But while the banknotes were being prepared for putting into circulation, inflation rose, so the authorities decided to inflate the purchasing power of the “bunnies” tenfold according to the principle “we write one, zero in our minds”: a 1 ruble banknote actually meant 10 rubles, and a banknote of 100 rubles was actually considered a thousand. And for small denominations of 1, 3 and 5 rubles, Soviet banknotes were used. That is, five Soviet rubles could be exchanged for 50 new Belarusian kopecks, but these same 50 kopecks were counted as 5 new rubles - in the same way, the same old Soviet 5 ruble bill could be used as five new rubles. As in the jokes about the Georgian school - “remember, kids, it’s impossible to panic this way.” To make life less of a hassle, coupons were invented back in January 1992. They were issued on notebook-sized sheets, these sheets contained coupons in the amount of 20, 50, 75, 100, 200 and 300 rubles. Coupons were used to prevent foreigners from the former Soviet republics from buying up all goods in stores in Belarus for former Soviet rubles. So the sellers cut out squares from the coupon sheets for the amount of the purchase made - literally cutting off the coupons. In stores they put up signs “Citizens of the Republic of Belarus are served without waiting in line!” The number of ruble coupons that was issued to a citizen was less than the number of rubles of salary - a person could spend the remainder of his salary on the purchase of goods at commercial, higher prices.
And finally, on August 20, 1994, the first denomination in the history of independent Belarus took place. Non-existent zeros were removed from banknotes, and now one ruble became one ruble, and one hundred rubles became a hundred. By the way, back in December 1992, banknotes of higher denomination were needed, and therefore they issued notes of 200 and 500 rubles. But since there were no animals larger than the bison in Belarus, they printed views of Minsk - Station Square and Victory Square.
In November 1993, another 1000 ruble banknote was printed (Academy of Sciences), and in April 1994 - 5000 rubles (Trinity Suburb). So eighteen years ago they denominated and began to live more or less stable. In the school diary of the author, at that time a sixth-grader, there is an entry (the spelling is preserved): “on the first of March, circus 4th row - 7000, 1st row - 8000. March 11 - White Theater Yanka Kupala stalls 10th row - 5000. Academic theater - 17 March "Swan Lake" balcony, row 2 - 3000". As of March 29, 1995, 1 dollar was worth 11,600 rubles. The largest banknote then had a denomination of 20,000 rubles (issued at the end of December 1994). That is, the “most expensive money” cost less than two “green” ones. However, the Russian ruble then cost 112 times cheaper than now - only 2 rubles 33 kopecks. Without asking anyone, prices continued to rise. In September 1995, a banknote of 50,000 rubles was issued (Brest Hero Fortress), in October 1996 - 100,000 rubles (National Academic Bolshoi Opera and Ballet Theater in Minsk). Let's continue the extracts from the diary (now for the 10th grade, 1998): "White Theater named after Y. Kupala "Avdei Passion" 10.26, Monday starting at 19.00 6th row 35,000", "10.23 "Wolves and Sheep" named after M. Gorky from 25 to 35 tons."; "December 18, Friday, 19.00. circus, 50,000 rubles. last row." In December 1998, the money came out in the amount of 500,000 rubles (Minsk Palace of Culture of Trade Unions), in April 1999 - 1,000,000 rubles (National Art Museum) and, finally, on September 5, 1999 - 5,000,000 rubles (Sports Palace in Minsk and the Raubichi sports complex). One dollar that day cost 281 thousand rubles, and five million is about 18 dollars. Therefore, in four and a half years the ruble depreciated 24 times.
On January 1, 2000, the second independent denomination took place in Belarus. Three zeros were removed from banknotes, and new bills were exchanged for old ones at the rate of 1 to 1000. One dollar began to cost 320 rubles. The color design of the old banknotes was changed, and at the same time a 10-ruble note was issued, on which the building occupied at that time by the National Library of Belarus was depicted. Zeros again began to fit on calculator screens, but the ruble continued to fall little by little. In April 2001, a 10,000 ruble banknote was issued (image of Vitebsk), and at the end of January 2002, a 20,000 banknote (Gomel). A few days later, from February 1, 2002, travel in Minsk went up from 80 to 120 rubles, and the dollar then cost 1,641 rubles. As you can see, the recent denomination did not help the “bunny” much; in two years it depreciated five times. In December of the same year, a 50,000 ruble banknote was issued (Mir Castle). The dollar already costs 1917 rubles. By the way, with the release of the fifty-thousandth banknote, the National Bank fell into a puddle. A mistake was made in the microtext: instead of “Mirski zamak” they wrote “Mirski zamak”, although on the National Bank’s website it is written that the correct text is still “Mirski zamak”, and even pictures confirming this are given. It turns out that the National Bank has flooded the country with counterfeits.
Another two and a half years later, in mid-July 2005, 100,000 rubles appeared (Nesvizh Palace). By that time, the ruble was quite stable, and the dollar exchange rate had been at 2,150 rubles for a year and a half. Thus, the largest Belarusian banknote is equivalent to $46.5.
This continued until the beginning of 2009. On January 2, residents of a strong and prosperous Belarus, returning to reality from New Year's tours and long feasts, suddenly saw that the exchange rate had jumped sharply: if the day before the dollar was worth 2,200 rubles, now it is 2,650 rubles. Thus, the one-time collapse of the ruble amounted to 20.45%. By the end of February, the ruble dipped a little more, and the dollar began to cost 2,850 rubles, that is, the total devaluation over two months amounted to 30%. Nobody warned the people, but a few hours before the New Year, rumors circulated in Minsk that “the ruble would fall,” and some knowledgeable, cunning townspeople rushed to buy currency at exchange offices. However, there were few of them, and this New Year’s surprise from the Hero of Belarus Pyotr Prokopovich, Chairman of the Board of the National Bank of the Republic of Belarus, significantly hit the pockets of Belarusians. Soon after this, at the very beginning of March, Pyotr Prokopovich announced that there would be no more sharp devaluation in the country. And there was no need for more. Surprisingly, the devaluation did not affect the cost of travel in public transport. In the future, this omission was more than made up for.
People returned to their work rhythm again, and the cherished “popizzots” were getting closer and closer again, when suddenly, just two years later, rumors that were not without foundation appeared. “The clouds are gloomy at the border” and “Why is the heart so upset?” The Belarusians felt that another devaluation was about to happen, and they rushed to the exchange offices to buy currency, and those who did not get currency - jewelry and household appliances. In terms of sales growth, "Atlant", "Horizon" and "Vityaz" in the spring of 2011, it seems, they even outpaced Apple. The authorities kept repeating almost every day: calm down, there is no reason to panic, the currency will appear in exchange offices in two or three days, and generally hand over your dollars back. There were those who believed the promises. How can one not believe it when Pyotr Prokopovich himself said: “We can say with confidence that in this five-year period the exchange rate of the national currency will be stable and predictable throughout this entire period” (January 28, 2011) and “There will be no one-time devaluation in Belarus will be. Our experience says that a sharp devaluation is a bad decision for Belarusians" (March 17). However, the most experienced residents of the country recalled an old Soviet joke (“Where do residents of the USSR get the news?” - “From TASS denials.”) and began to prepare for the worst, continuing to stand for hours and days in queues at the windows of exchange offices. And, of course, the worst was not long in coming. At the end of May, on the 23rd, the dollar was worth 3155 rubles, and the very next day - 4930 (the ruble fell by 56%). They began to say that soon, “within two or three months” (this was said by officials at all levels), the country would “reach the equilibrium ruble exchange rate” (the same sources). And they left. Only in October. And before that, for five months it was impossible to buy currency even at the already “newly approved official rate,” despite the fact that this rate was growing day by day. Finally, according to the results of trading on the currency and stock exchange on October 21, 2011, the dollar began to cost 8,680 rubles. This means that in just 10 months the ruble has collapsed almost threefold. And in less than three years - four times.
“We survived abundance, we will survive the crisis,” the Belarusians sighed and went back to work. By the way, the president of the country began to say that this global crisis could reach Belarus. What happened before that if not a crisis? No, not a crisis, but just “we have certain problems with the currency. A crisis is when everything collapses, and the economy first of all.”
Since the end of 2011, there has been official talk that they will issue a new banknote of 200,000 rubles, but it is too early to issue banknotes of 500 thousand and a million. The release of the new piece of paper took place on March 12, 2012 - the Mogilev Regional Art Museum was depicted on it. By that time, the dollar had fallen a little in price (8,160 rubles), and it turned out that our largest bill was as much as 24.5 dollars. Half the price of one hundred thousand rubles at the time of its release. It is curious that this banknote suddenly did not contain the inscription “Counterfeiting is prosecuted by law,” which was obligatory for all previous banknotes. It’s as if the National Bank itself does not believe that this is really a banknote.
Well, if you sum up all the denominational events of the last 90 years, you get some interesting arithmetic.
1 ruble of 1922 was exchanged for 10,000 rubles of previous issues.
1 ruble of 1923 was exchanged for 100 rubles of 1922.
1 ruble of 1924 was exchanged for 50,000 rubles of 1923.
1 ruble of 1947 was exchanged for 10 rubles of 1924.
1 ruble of 1961 was exchanged for 10 rubles of 1947.
1 Belarusian ruble of 1992 was exchanged for 10 rubles of 1961.
1 Belarusian ruble of 1992, to which a zero was mentally assigned, was “changed” in 1994 for 1 Belarusian ruble of 1992.
1 Belarusian ruble in 2000 was exchanged for 1000 rubles in 1992.
Now let's go back a little. During the discussion of an independent Belarusian currency in the early nineties, a lot was proposed different options. They even printed test copies of ruble coupons with poets and views of cities. There was also a proposal to call the money thalers. I remember that during the last presidential campaign, one of the candidates also promised to introduce thalers (and another said that the ruble to dollar exchange rate after his election would become 3:1, and then 1:1). I wonder what the exchange rate of the modern Belarusian thaler would be if historical continuity were observed?
On the territory of the Grand Duchy of Lithuania there was a ducat in circulation, which was minted in different eras for almost 700 years, and all this time it complied with the standard: one ducat contained 3.45 grams of pure gold. There were many standards for the thaler, but after the reform of August Poniatowski in 1766 in the Polish-Lithuanian Commonwealth, 1 thaler contained 19.475 grams of pure silver. The thaler was divided into 8 zlotys, the value of which, despite the name, was expressed in silver. Thus, 1 zloty contained 2.434 g of silver. The zloty, in turn, was divided into 4 silver groschen, therefore, one such groschen contained 0.608 grams of silver. Finally, the silver penny consisted of ten pennies. Penyaz also did not have a single standard for a long time and only after the reform it gained a stable dependence on the penny and thus contained 0.0608 grams of silver. By the way, penyaz (modern Polish “peniondzy” - money - that’s where it came from) was also called a denarius. Now let’s take the official prices of the National Bank of the Republic of Belarus for precious metals (1 gram of gold - 444,709 rubles, 1 gram of silver - 7,846 rubles) and for foreign currency (1 dollar - 8,340 rubles, 1 euro - 10,380 rubles) and calculate how much modern ducats should cost, thalers and its derivatives:
1 ducat = 3.45 g of gold = 1,534,246 rubles = 184$ = 148€
1 thaler = 19.475 g of silver = 152,800 rubles = 18.3 $ = 14.7 €
1 zloty = 2.434 g of silver = 19,097 rubles = 2.3$ = 1.83€
1 penny = 0.608 g of silver = 4770 rubles = $0.57 = €0.46
1 denarius = 0.0608 g of silver = 477 rubles.
So today’s mantric 500 dollar salary would be only three ducats...
From July 1, 2016, the Republic of Belarus will denominate the official currency - the Belarusian ruble. The corresponding decision was made by Decree of the President of the Republic of Belarus dated November 4, 2015 No. 450.
As the press service of the National Bank reported, the denomination will be carried out by replacing the banknotes of the 2000 model in circulation with banknotes and coins of the 2009 model in the ratio of 10,000 Belarusian rubles in banknotes of the 2000 model to 1 Belarusian ruble in banknotes of the 2009 model. That is, taking into account the chosen scale of enlargement of the Belarusian ruble (1:10,000), the lowest denomination of the banknote currently in force - 100 rubles - will be replaced by the lowest denomination of the new monetary series - 1 kopeck.
In total, from July 1, 2016, seven denominations of banknotes will be issued into circulation - 5, 10, 20, 50, 100, 200 and 500 rubles, and eight denominations of coins - 1, 2, 5, 10, 20 and 50 kopecks, as well as 1 and 2 rubles.
The general design concept of the new banknotes corresponds to the motto “My Country - Belarus”. Each banknote is dedicated to one of the regions of Belarus and the city of Minsk. The correspondence of the area to the denomination of banknotes is determined in alphabetical order. The image of a banknote in denomination of 5 rubles is dedicated to the Brest region, 10 rubles - to the Vitebsk region, 20 rubles - to the Gomel region, 50 rubles - to the Grodno region, 100 rubles - to the Minsk region, 200 rubles - to the Mogilev region, 500 rubles - to Minsk. The design of the new 2009 banknotes maintains continuity with the 2000 series of banknotes in terms of the use of images of architectural and urban planning monuments.
On the obverse (front side) of the change (circulation) coins put into circulation is depicted State emblem Republic of Belarus, on the reverse (back side) - digital designations of coin denominations.
Until July 1, 2016, the only legal tender for cash payments in the Republic of Belarus will be banknotes of the 2000 model currently in circulation.
From July 1 to December 31, 2016 inclusive, banknotes of the 2000 model, as well as banknotes and coins of the 2009 model, will be in parallel circulation and must be accepted for all types of payments by all business entities without restrictions.
Over the next five years - from January 1, 2017 to December 31, 2021 inclusive - banknotes of the 2000 model will be exchanged for banknotes of the 2009 model in any amount without restrictions and without charging a commission.
In this case, it will be possible to exchange old banknotes for new ones:
- from January 1, 2017 to December 31, 2019 inclusive - in the National Bank, banks and non-bank financial institutions of the Republic of Belarus;
- from July 1, 2020 to December 31, 2021 inclusive - at the National Bank of the Republic of Belarus.
From January 1, 2022, banknotes of the 2000 model will be considered invalid.
The decision to denominate the Belarusian ruble was made in order to improve monetary circulation, simplify accounting and settlements, maintain an optimal banknote structure of the money supply, and significantly reduce government expenses for servicing cash circulation in the Republic of Belarus.
The denomination process is of a technical nature and will not affect the purchasing power of the Belarusian ruble, the exchange rate of the national currency against foreign currencies, as well as the actual level of inflation.
Thus, prices for goods and services from July 1, 2016 will be recalculated taking into account the selected denomination scale - 1:10,000. In other words, if before the denomination a product cost, for example, 100,000 rubles, then after the denomination its price will be 10 rubles. At the same time, to make it easier for buyers to adapt to such changes, during the parallel circulation of old and new banknotes, that is, from July 1 to December 31, 2016, all business entities will be required to indicate two prices - old and new.
According to a similar principle, when carrying out a denomination, salaries, pensions, scholarships, balances will be recalculated cash in bank accounts, balance sheets of enterprises and institutions, etc.
It should be noted that preparations for the denomination in the Republic of Belarus took quite a long period. Thus, the new banknotes, which will be put into circulation on July 1, 2016, were manufactured by order of the National Bank of the Republic of Belarus back in 2008. However, then, due to the global economic crisis and, as a consequence, the deterioration of the economic situation in our country, the denomination was postponed, and the manufactured banknotes were transferred to the Central Vault of the National Bank.
- Taking into account the time of production, new Belarusian rubles have certain features. In particular, on the 2009 banknotes issued for circulation there is a facsimile of the signature of P.P., who at that time held the position of Chairman of the Board of the National Bank of the Republic of Belarus. Prokopovich. In addition, the new 50-ruble banknote contains the inscription “pyatsdzesyat”, which does not comply with the current rules of Belarusian spelling. In accordance with the Law of the Republic of Belarus dated July 23, 2008 No. 420-Z “On the rules of Belarusian spelling and punctuation”, this word must be written with the letter “ya” in the second syllable - “pyatsdzyasyat”.
When the National Bank makes subsequent orders for the production of new banknotes, these discrepancies will be eliminated.
Denomination is a change in the face value of money. Usually expressed in the “cutting off” of a certain number of zeros from old banknotes and the release of new money of a lower denomination into circulation. Often the need for denomination arises after hyperinflation in order to simplify calculations.
The denomination of the Belarusian ruble has already occurred twice in its relatively short history. Back in 1992, new money appeared in Belarus - the well-known “bunnies”, “squirrels”, “bisons”... True, while new banknotes were being printed, inflation was doing its dirty work. As a result, prices rose significantly, and they decided to increase the denomination of the new banknotes, mentally adding 1 zero to the number on the banknote. For example, the famous bunny, which had the number “1” on it, was in practice accepted not as 1 ruble, but as 10.
Two years later, the first denomination of the Belarusian ruble took place - denomination 1994. One zero was removed from the banknotes (which, in fact, was never there), and prices for goods and services were recalculated accordingly.
Just 5 years later, Belarusians became millionaires - by 1999, a banknote with a face value of 5 million rubles was already in circulation. A decision was made on a second denomination, and the country entered the year 2000 with new money, deprived of three more zeros.
And recently the crisis year of 2011 struck. The ruble depreciated three times (and to today- almost four), inflation in one year exceeded 108%. The National Bank issued a banknote with a face value of 200,000 rubles, and senior officials began to carefully pronounce the word “denomination” out loud.
And in October 2013, President of Belarus Alexander Lukashenko openly stated that the new money had already been printed and was in the warehouse. And the head of the National Bank, Nadezhda Ermakova, has repeatedly spoken about carrying out a redenomination after the economic situation in the country has stabilized. But when exactly the third Belarusian denomination will happen is still unclear.
According to President Lukashenko, in order to carry out a redenomination, “there should not be such an interest rate, there should be no anxiety in the market, so that the population does not worry.”
Nadezhda Ermakova agrees with him: “We need to restore the entire economy, put the entire monetary system in order, so that we have interest rates were normal, then we can talk about denomination. Any denomination still leads to increased inflation.”
Denomination, although it does not affect the fundamental principles of the economy, can indeed lead to higher prices. The psychological effect of denomination is often expressed in increased consumption by the population, which, in turn, leads to inflation.
On November 4, 2015, by Decree of the President of the Republic of Belarus, a decision was made to carry out the denomination of the national currency. The denomination in Belarus was carried out on July 1, 2016, with the current 10 thousand Belarusian rubles being equal to 1 Belarusian ruble of the new standard. Accordingly, prices for goods after the denomination lost 4 zeros to current prices.
After the denomination, the Belarusian ruble decreased immediately by 10,000 times, and banknotes of the 2000 model in circulation are gradually being replaced by banknotes and coins of the 2009 model. Thus, 100 rubles, the lowest denomination of the banknote, will be replaced by the lowest denomination of the new banknote - 1 kopeck.
In total, seven denominations of banknotes appeared in circulation - 5, 10, 20, 50, 100, 200 and 500 rubles, and eight denominations of coins - 1, 2, 5, 10, 20 and 50 kopecks, as well as 1 and 2 rubles.
After the denomination on July 1 in Belarus, until the end of 2016, banknotes of the 2000 and 2009 samples were in parallel circulation and were mandatory for acceptance when making all types of payments without restrictions. Since the beginning of 2017, Belarus has completely switched to new banknotes.
In Belarus, the procedure for exchanging old-style banknotes has been determined. Old money can be exchanged for new ones at the National Bank and non-bank financial institutions of the Republic of Belarus from January 1, 2017 to December 31, 2019 inclusive. From July 1, 2020 to December 31, 2021 inclusive, banknotes will be exchanged only in. From January 1, 2022, banknotes of the 2000 model will be considered invalid.
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