News & Events in Belarus

MINSK, 1 July (BelTA) – The Belarusian official currency was redenominated on 1 July, BelTA informs.

On 4 November 2015 Belarus President Alexander Lukashenko signed decree No. 450 “Concerning the redenomination of the official currency of the Republic of Belarus”. The document specifies that the official currency of the Republic of Belarus will be redenominated on 1 July 2016. As a result, all banknotes of the so-called 2000 series will be exchanged for banknotes and coins of the 2009 series at a rate of 10,000:1.

Starting from 1 July 2016, commemorative banknotes issued by the National Bank shall be accepted in all kinds of payments without restriction in the abovementioned ratio, commemorative and bullion (investment) coins issued by the National Bank shall be accepted in all kinds of payments without restriction depending on their notional value.

The decree envisages that Br1 of the 2009 series will be equal to 100 Belarusian coins of the 2009 series.

From 1 July 2016 to 31 December 2016 monetary units of the 2000 series and monetary units of the 2009 series shall be used simultaneously and shall be accepted in kinds of payments without restriction in the abovementioned ratio.

Banknotes of the 2000 series can be exchanged for the banknotes of the 2009 series without restrictions and additional fees in the period from 1 January 2017 to 31 December 2019 at the National Bank, banks and non-bank credit and financial institutions of the Republic of Belarus. In the period from 1 January 2020 to 31 December 2021 they can be exchanged at the National Bank.

From 1 July 2016 to 31 December 2016, manufacturers, traders, suppliers, executives and their representatives shall provide information about the prices and tariffs on their goods (works, services) calculated both in the new and old Belarusian rubles.

The National Bank has been instructed to ensure the issue of monetary units of the 2009 series and withdraw monetary units of the 2000 series in line with the provisions of the decree.