In Belarus, from July 1, 2016, denomination will be carried out. On November 4, Alexander Lukashenko signed decree No. 450 “On the denomination of the official monetary unit of the Republic of Belarus.” This was reported by the press service of the President of Belarus.
The decree prescribes to carry out the denomination of the official monetary unit of the Republic of Belarus from July 1, 2016 and to replace, by December 31, 2016, circulating banknotes of the 2000 sample in the form of banknotes with banknotes of the 2009 sample in the form of banknotes and coins in the ratio of 10 thousand rubles in the samples 2000 to 1 ruble in banknotes of the 2009 sample, writes TUT.BY.
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 no limits.
The decree establishes that 1 Belarusian ruble of the 2009 model is equal to 100 Belarusian kopecks of the 2009 model.
Simple explanation
From July 1, 2016, 10,000 Belarusian rubles will be equal to 1 new ruble.
From July 1 to December 31, 2016, banknotes of the 2000 sample and banknotes of the 2009 sample are in parallel circulation and are required to be accepted for all types of payments without restrictions in the above ratio.
The exchange of banknotes of the 2000 sample for banknotes of the 2009 sample is carried out without restrictions and without charging a fee from January 1, 2017 to December 31, 2019 - in the National Bank, banks and non-banking financial institutions of the Republic of Belarus, from January 1, 2020 to December 31, 2021 - at the National Bank.
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.
According to the website of the National Bank, from July 1, 2016, a total of 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 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 banknotes of the 2009 series maintains continuity with the banknote series of the 2000 series 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, the State Emblem of the Republic of Belarus is depicted, on the reverse (back side) - digital designations of the coin denominations.
You can see what the new Belarusian money will look like.
The President of Belarus warned about denomination
Let us remember that talk about denomination has been raised more than once. In 2014, Alexander Lukashenko, at a meeting with media representatives, said that the design of new banknotes and kopecks had already been approved, and they would “somehow resemble the euro.”
He also said then that the denomination would be announced in Belarus six months in advance. “We will think with specialists when this period comes. We need to be very careful here,” the head of state said.
We are ready to carry out a denomination at any time. But still, even for this technical step there must be certain conditions. There should not be such an interest rate, there should be no anxiety in the market so that the population does not worry. And so that there are no crisis phenomena in the economy.”
“Therefore, we will choose the time and announce this at least six months in advance,” the president noted. “In parallel, both old rubles and new rubles will circulate for at least a year.”
The President noted that new money has already been approved, and, along with banknotes, coins may also be in circulation in Belarus. According to the head of state, the new money looks similar to the euro.
“We don’t hide it, we have been ready for this process for a long time,” said Alexander Lukashenko. “But we need to find the time so that under no circumstances will people reproach us for the fact that we carried out a denomination, and someone profited from it.” I will have a strict requirement: if we round prices, then only downwards. People won't lose anything here."
The President once again assured that the denomination would be announced in advance. “I guarantee! I won’t deceive,” said the head of state.
Based on materials TUT.BY And site National Bank of the Republic of Belarus
From July 1, 2016, all citizens of Belarus will have to get used to new money - redenomination is expected in the country. Simply put, a few zeros will be taken away from the existing denomination of funds, thereby simplifying payments within the country. What form will the new Belarusian money take?
New Belarusian money
Banknotes of seven and coins of eight denominations will be used in circulation within Belarus. The following types of banknotes will be released into circulation:
Five rubles
A banknote with an image of the Kamenets Tower on the front side and a collage of elements of the life of the first Slavic settlements on the back.
Ten rubles
A banknote with an image of the Church of the Transfiguration on the front side and a collage dedicated to printing on the back.
Twenty rubles
A banknote with an image of the Rumyantsev and Paskevich Palace on the front side and a collage of elements of the country's spiritual heritage on the back.
Fifty rubles
A banknote with an image of Mir Castle on the front side and a collage of art-related elements on the back.
One hundred rubles
A banknote with an image of the Radziwill Castle on the front side and a collage on the theme of theater and national holidays on the back.
Two hundred rubles
Banknote with the image of the Mogilev Regional Art Museum named after. P.V. Maslennikov on the front side and a collage illustrating the work of artisans and city planners on the back.
Five hundred rubles
Banknote with the image of the National Library of the Republic of Belarus on the front side and a collage of elements related to literature on the back.
In addition to paper money, coins of the following denominations will come into circulation:
1, 2, 5 kopecks
The obverse of each coin bears the state emblem of the Republic of Belarus, as well as the inscriptions “Belarus” and “2009”; the reverse bears its denomination framed by a national ornament, which is a symbol of wealth and prosperity.
10, 20, 50 kopecks
The obverse of the coin is identical to the obverse of coins in denominations of 1, 2 and 5 kopecks; the reverse depicts its denomination and a symbol representing vitality and fertility.
1, 2 rubles
The obverse of the coin depicts the state emblem of the Republic, as well as the inscriptions “Belarus” and “2009”. On the 1-ruble coin the inscription is placed in two lines; on the two-ruble coin it is located in a circle and is divided by the “Bagach” ornament. The reverse indicates the denomination of the coin and contains an ornament that reflects a person’s desire to find happiness and freedom.
The design concept of the updated Belarusian money is based on the glorification of the native country of Belarus and its identity. The banknotes contain images of cultural and artistic monuments located in different regions of the republic. The assignment of images to banknotes of a certain denomination was carried out in alphabetical order in accordance with the names of the regions of the country - Brest, Vitebsk, Gomel, Grodno, Minsk, Mogilev and Minsk itself.
The similarity of the updated banknotes with banknotes previously in circulation is noted. This technique was used purposefully to facilitate the adaptation of Belarusian citizens to new money.
Why, for what, when and what is possible - all about new money. What awaits us in 2016? (video+infographics)
So, from July 1, 2016 new money will appear in Belarus. As BelTA writes, 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 2009 model .
Let's remember what Alexander Lukashenko said about this back in 2014, speaking in Baranovichi with representatives of the labor collective:
1.Why is denomination carried out?
Deputy Chairman of the Board of the National Bank of Belarus Dmitry Lapko reported that the banknote series in Belarus will then decrease by 7 times:
It is expected that by July 1, 2016, there will be about 600 million banknotes of the 2000 model in circulation. To replace them, only 80 million copies of banknotes of the new nominal series and 400 million coins will be required. This means that the new banknote series will be 7 times smaller.
This means that the costs of transportation, counting, storage, and delivery of money to the consumer will be significantly reduced.
« Is the introduction of a coin good or bad? The service life of a coin is from 10 to 15 years, the service life of a small denomination banknote is from 6 to 12 months, and this is at best.”, he noted.
Dmitry Lapko also explained that economic agents most positively evaluate monetary units with the fewest zeros, which is why denomination is carried out 1:10000 . True, when it was planned in 2009 m, they were going to remove three zeros, not four, but devaluations, especially in 2011 m year, we made our own adjustments.
2. What banknotes will be in use?
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 no limits.
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 in parallel circulation and are required to be accepted for all types of payments without restrictions in the above ratio.
3. When will it be possible to change money?
- from January 1, 2017 to December 31, 2019 inclusive
- from January 1, 2020 to December 31, 2021 inclusive
4. Where can I change money?
- at the National Bank,
- banks and non-banking financial institutions of Belarus.
5. Is it possible to exchange old banknotes in advance?
Until July 1, 2016, no one should exchange old banknotes for new ones. Deputy Chairman of the Board of the National Bank of Belarus Dmitry Lapko told reporters about this today:
I would like to emphasize that until July 1, no one anywhere can or should exchange banknotes. The new banknotes will appear in circulation as legal tender only from July 1, 2016. And if someone offers to exchange old banknotes for new banknotes, this is a scammer.
He also said that government bodies will work in a coordinated manner, the Council of Ministers and the National Bank will develop an action plan to carry out the denomination:
The display of posters that will illustrate the new money, as well as certain informational lectures will be held to ensure that people understand. Law enforcement agencies will provide control.
5. What will happen in 2016?
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.
6. About the design of new money
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 banknotes of the 2009 series maintains continuity with the banknote series of the 2000 series in terms of the use of images of architectural and urban planning monuments.
7. Who minted Belarusian coins?
Dmitry Lapko said:
The National Bank, when producing a batch of banknotes and coins that will be released into circulation in July, was guided by a simple principle - a competition was announced, for which fairly stringent requirements were presented. Leading European and global manufacturers took part in it. We cannot disclose the name, but I can assure you that this is a European manufacturer with advanced, modern technologies and technical equipment
8. Why was the denomination announced now?
The Deputy Chairman of the Board of the National Bank noted that this was done so that economic agents could prepare for this issue.
« Budgets for next year are now being set, and so that everyone understands what they need to do, we announced the denomination in advance“,” he explained.
9. Is it costly for our state to carry out a denomination?
As for the total costs of carrying out the denomination, it is impossible to calculate them, emphasized the Deputy Chairman of the Board of the National Bank.
« Part of the costs were incurred in 2008-2009, so there will be no costs for making money now; the question is to restart the software and provide coin acceptors for devices that do not have them. According to our assessment, these will not be very high costs compared to the savings that will be obtained by replacing the current banknote series“,” stated Dmitry Lapko.
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 will the new money look like, will people lose their deposits, will loan rates remain the same, will the real sector of the economy 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 no limits.
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 banknotes of the 2009 series maintains continuity with the banknote series of the 2000 series in terms of the use of images of architectural and urban planning monuments.
When planning a trip to Belarus, it will be useful to familiarize yourself with the features of the country’s payment system. But this article contains valuable information on this topic not only for guests of the Republic, but also for its residents.
A little history
The Belarusian ruble is a relatively young national currency in Belarus. The monetary unit began its history of formation in the first half of the 90s, when the Soviet Union collapsed, Belarus became isolated, and the country began to need its own money. Since 1992, coupons have been in circulation, but non-cash payment transactions were already carried out in Belarusian rubles. In 1993, there were payment cards, and starting from the end of July of that year, Soviet rubles began to be withdrawn from monetary circulation.
Since 1994, the Belarusian ruble has rightfully acquired the status of the country’s only currency.
Belarusian banknotes of the 1992 model
Belarusian banknotes of the 1994-1999 model
Belarusian banknotes of the 2000 model
Denominations
The formation of the country's modern money was long and, to some extent, thorny. Already in 1994, the Bank of Belarus carried out the first redenomination of the ruble by 10 times. In 2000, the currency underwent a second transformation into nominal value, but already 1000 times.
On July 1, 2016, the country's economy again required redenomination. The ratio was 1:10,000. Another innovation was that from the same time the minting of state coins began.
The ratio of banknotes after denomination in 2016 (money of the Republic of Belarus of the new sample and outdated)
Commemorative coins
Previously, the Belarusian ruble did not have any units of exchange, however, since 1996, the National Bank of the Republic of Belarus has been issuing commemorative coins, which are legal tender and represent a certain value for collectors. Such coins are minted from gold, silver or copper-nickel alloy on various themes.
Modern money of Belarus
Previously, the lack of coins distinguished Belarus from other countries. But this was done in order to save the state budget.
Currently, modern Belarusian rubles (abbreviated “Br”) are represented by:
- banknotes in denominations of 5, 10, 20, 50, 100, 200 and 500 rubles;
- coins in denominations of 1, 2, 5, 10, 20 and 50 kopecks, as well as 1 and 2 rubles.
In this case, 1 ruble is equal to 100 kopecks.
Both coins and paper bills are regulated by the National Bank of the Republic of Belarus.
I am looking for a currency exchange
For both guests and residents of the country, currency exchange is a sensitive and pressing issue. Therefore, we further suggest that you familiarize yourself with the features of the conversion of Belarusian rubles.
Upon arrival
Since the Belarusian currency is not freely convertible, it will not be possible to purchase it before entering the country.
Banks in Belarus easily convert foreign money into national money. You can exchange existing banknotes of other countries for Belarusian rubles at currency exchange offices. Such points are located in bank branches, shopping centers, markets, hotels. You can also convert cash at airports and train stations, but the exchange rate there is very unfavorable, so it’s better not to change money unless absolutely necessary.
It is convenient to quickly analyze exchange rates using special online services that collect up-to-date information from the websites of local banks.
NJust a note: usually the most favorable currency exchange rates are offered by medium and small banks.
Upon departure
When leaving Belarus, you should take care in advance to transfer money into the currency of the country of arrival. In this case, it is better to be guided by the golden rule: do not put all your eggs in one basket. Namely: take a small part in cash, changing it at the exchanger at the most favorable rate, and transfer the rest to the card. When heading to the countries of the European Union, you should issue a card in euros, to all other countries - in US dollars. In this case, when paying, the conversion will be direct: the local currency will be converted into EUR or USD. But paying with a ruble card abroad is extremely unprofitable due to double conversion: first from the local currency into euros or US dollars, and then into Belarusian rubles.
On the border
When making any payment transactions on the territory of Belarus, it is important not to forget to keep the stamped checks, indicating the transaction. Perhaps they will be checked at customs.
In addition, since 2013, a value added tax (VAT) refund system has been in place for foreign citizens for purchases made on the territory of Belarus when leaving it. This system is called Tax Free, and about 50 countries are connected to it. It should be taken into account that:
- it does not apply to residents of Belarus, Russia, Kazakhstan, Armenia and Kyrgyzstan;
- the price of goods must be subject to VAT of 20%;
- the purchase amount must exceed 80 Belarusian rubles, and it must be made within 1 day in 1 store;
- refund amount – 12.5% of the purchase amount without commissions;
- when purchasing, you must have a passport and notify the seller of your intention to issue a “VAT refund check” (hereinafter referred to as the “Check”);
- the receipt must be marked with a note about the removal of the goods, with the original cashier's receipt attached and a copy of the seller's receipt;
- provide the goods to customs officers strictly within 3 months from the date of purchase;
- at customs, have unused goods in intact packaging, a passport, a buyer's receipt (with attached receipts);
- within 6 months after export, you must send the original Receipt to RUE Beltamozhservice, indicating the recipient’s bank card details on the envelope (sending is free);
- refund of the VAT amount in the recipient’s currency is made within 30 days from the date of receipt of the letter by employees of RUE “Beltamozhservice”;
- The refund amount can also be paid in cash at a special Tax Freecash Refund point (at the Minsk National Airport).
Bank cards
Among all payment methods in Belarus, the most popular is non-cash payment via bank payment cards.
Of the debit plastic cards in the republic, Visa and MasterCard are most often used; there are also Belcard and Maestro. And among credit cards (more precisely, installment cards: the annual percentage is 0.000001%) the most popular among the population are Halva (MTBank), Purchase Card (Belgazprombank), Smart Card (Moscow-Minsk Bank), Magnit "(Belarusbank), "Turtle" (VTB Bank).
Traveler's checks
Until 2013, when traveling to Belarus, you could use AmericanExpress traveler's checks, which were the only payment system of this type. Today such a payment system does not function in the country.
Electronic payment systems
Convenient and modern electronic payment systems operate in Belarus. Popular Belarusian EPS:
- electronic wallets – EasyPay, WebMoney;
- payment via smartphone – iPay, ;
- payment systems by bank cards – WebPay, bePaid, Assist Belarus;
Tokens and payment cards
Since coins appeared in circulation not so long ago, tokens and payment cards have remained relevant in the country. Where they can be used and purchased:
- For travel on the subway. Plastic cards and metro tokens are sold at each station.
- Operating payphones are installed on city streets, which are activated via smart cards. You can buy them at newsstands or at supermarket checkouts.
- Vending machines, of which there are few in the republic, accept special tokens for payment, which are also available in newspaper stalls. By the way, the vast majority of vending machines are equipped with coin and bill acceptors, and national currency is accepted for payment.
A couple of decades ago, to the question “What kind of money is there in Belarus?” there was no clear answer. But now there is an active development of not only the Belarusian currency, but also electronic payment systems.