The Belarusian ruble, rouble or rubel (; ; symbol: , ISO code: BYN) is the official currency of Belarus. It is subdivided into 100 kopecks (, ).
The exchange rate of the Belarusian ruble is determined based on a basket of currencies consisting of the Russian ruble (with a weight of 60%), the US dollar (with a weight of 30%) and the renminbi (with a weight of 10%). The euro was part of said currency basket but was excluded in December 2022 due to a decrease in the volume of trade between Belarus and the European Union.CURRENCY BELARUS MARKET: MAIN TRENDS AND CHALLENGES
History First ruble (BYB), 1992–2000 As a result of the breakup of the supply chain in the former Soviet enterprises, goods started to be bought and sold in the market, often requiring cash settlement. The Belarusian unit of the USSR State Bank had neither the capacity nor the licence to print Soviet banknotes, so the government decided to introduce its own national currency to ease the cash situation. The German word Thaler (), divided into 100 Groschen () was suggested as the name for a Belarusian currency, but the Communist majority in the Supreme Soviet of Belarus rejected the proposal and stuck to the word ruble that had been used in Belarus from the times of the Soviet Union and the Russian Empire. The word ruble has also been used as a name for a currency in circulation in the medieval Grand Duchy of Lithuania, of which Belarus was a major part (see Lithuanian long currency).
From the collapse of the Soviet Union until May 1992, the Soviet ruble circulated in Belarus alongside the Belarusian ruble. New Russian ruble banknotes also circulated in Belarus, but were replaced by notes issued by the National Bank of the Republic of Belarus in May 1992. 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/Russian rubles. It took about two years before the ruble became the official currency of the country in 1994 replacing Russian rubles.
Second ruble (BYR), 2000–2016 In 2000, a new ruble was introduced (ISO 4217 code BYR), replacing the first at a rate of 1 BYR = 1,000 BYB. This was redenomination with three zeros removed. Only banknotes were issued; coins were minted solely as commemorative collectibles.
Monetary integration with Russia From the beginning of his presidency in 1994, Alexander Lukashenko began to suggest the idea of integration with the Russian Federation, and undertook steps in this direction. The idea of introducing a united currency for the Union of Russia and Belarus was floated; Article 13 of the 1999 "Treaty of Creation of the Union State of Russia and Belarus" foresaw a unified currency. Belarus' economy was largely a Soviet-style centrally controlled one heavily reliant on cheap energy supplies from Russia. Discussions on the common currency continued well past the 2005 implementation goal set by both nations. Starting in 2008, the Central Bank of Belarus announced that the ruble would be tied to the United States dollar instead of the Russian ruble. Former bank chairman Stanislav Bogdankevich called it a political decision, tied to Belarus' open displeasure with Russia's hike of oil and gas export prices to Belarus earlier that year.
Third ruble (BYN), 2016–present In July 2016, a new ruble was introduced (ISO 4217 code BYN), at a rate of 1 BYN = 10,000 BYR. Old and new rubles circulated in parallel from 1 July to 31 December 2016. Belarus also issued coins for general circulation for the first time. Seven banknote denominations (5-, 10-, 20-, 50-, 100-, 200-, and 500 rubles) and eight coin denominations (1-, 2-, 5-, 10-, 20-, and 50 copecks, and 1- and 2 rubles) are in circulation as of 1 July 2016.Belarus new redenominated notes (B137 - B143) reported for 01.07.2016 introduction BanknoteNews.com November 5, 2015. Retrieved on 2015-11-05.On redenomination of the Belarusian ruble since July 1, 2016 National Bank of the Republic of Belarus (nbrb.by). Retrieved on 2015-11-05. The banknotes have security threads and show 2009 as an issue date (the date of an unsuccessful attempt at currency reform).
Coins First series, 2016 On December 27, 2016, for the first time in the Belarusian ruble's history, coins were introduced, due to the redenomination. Previously, Belarus was one of the few countries in the world never to have issued coins; this was largely due to rampant inflation, a problem since independence.
Slovakia offered to mint the coins, and provided prototypes. Coins of up to 5 copecks are struck in copper-plated steel; 10, 20, and 50 copeck coins are struck in brass-plated steel; 1 ruble coins are nickel-plated steel and 2 ruble coins a bi-metallic composition with a brass-plated steel ring and a nickel-plated steel center plug. О проведении с 1 июля 2016 г. деноминации белорусского рубля All coins show the national emblem of Belarus, the inscription 'БЕЛАРУСЬ' (Belarus) and the year of minting on their obverse. The reverse shows the value of the coin and different symbolic ornaments.
2016 Belarusian ruble coins Image Value Technical parameters Description Date of Obverse Reverse Diameter(mm) Thickness(mm) Mass(g) Composition Edge Obverse Reverse first minting issue 1 cop151.251.55 Copper-plated steel Plain National emblem of Belarus, name of the country, year of minting Value, the ornament symbolizing wealth and prosperity20091 July 2016 2 cop17.52.10 5 cop19.82.7 10 cop17.71.802.8 Brass-plated steel Reeded Value, the ornament symbolizing fecundity and vital force 20 cop20.351.853.7 50 cop22.251.553.95 Rbl 121.252.35.6Nickel-plated steel Value, the ornament symbolizing the pursuit of happiness and freedom Rbls 223.52.05.81Brass-plated steel ring with a nickel-plated steel center plugLettered National emblem of Belarus, name of the country, year of minting, divided by Bahach ornament
Commemorative issues
Belarus is a large producer of commemorative coinage for the numismatic market, most particularly gold and silver bullion coins and non-circulating legal tender. Their designs range from fairly commonplace to unique and innovative ONE; themes range from "native culture and events" to fairy tales and pop culture topics unrelated to Belarus. A majority of these coins have a face value of 1 ruble; a few are 3-, 5 rubles and higher. Considered novelties, these coins are unlikely to be seen in general circulation.
Banknotes
First ruble (BYB) In 1992, banknotes were introduced in denominations of 50 copecks, and 1, 3, 5, 10, 25, 50, 100, 200, 500, 1,000, and 5,000 rubles. These were followed by banknotes of 20,000 rubles in 1994, 50,000 rubles in 1995, 100,000 rubles in 1996, 500,000 rubles in 1998 and 1,000,000 and 5,000,000 rubles in 1999.
1992 — 1999 series Image Value Dimensions Main Color Description Date of ObverseReverseObverseReverseissuewithdrawallapse 50 cop 105 × 53 mm Orange-pink Image of sciurus Pahonia ("The Chase") 25 May 1992 1 January 200131 December 2000 Rbl 1 Grey blue Image of the running European hare or "zaichik" which earned the currency its nickname Rbls 3 Green Image of beavers Rbls 5 Blue and pink Image of wolves Rbls 10 Dark green Image of the Eurasian lynx with kitten Rbls 25 Orange Image of moose Rbls 50 Violet Image of brown bear Rbls 100 Green-brown Image of wisent Rbls 200 Yellow-green Image of the train station square 8 December 1992 Rbls 500 Violet-red Victory Square, Minsk Rbls 1,000 Green National Academy of Sciences of Belarus in Minsk 3 November 199331 December 2003 110 × 60 mm Large image of the number 1,000 16 September 1998 Rbls 5,000 105 × 60 mm Red Trinity Hill in Minsk Pahonia 7 April 1994 110 × 60 mm Large image of the number 5,000 16 September 1998 Rbls 20,000 150 × 69 mm Olive-yellow National Bank of the Republic of Belarus Pahonia 28 December 1994 Rbls 50,000 Light brown Kholm Gate Brest Fortress Memorial 15 September 1995 Rbls 100,000 Grey-brown Opera and Ballet Theatre (Minsk) Scene from the ballet "Favourite" («Избранница») by E.A. Hlebau 17 October 1996 Rbls 500,000 Orange-red The Republican Trade Unions' Palace of Culture in Minsk Architectural decorations on the Republican Palace of Culture of Belarus 1 December 1998 Rbls 1,000,000 Sky-blue The National Museum of Arts of Belarus in Minsk Fragment of the picture "Portrait of wife with flowers and fruits" by I. Khrutski 30 April 1999 Rbls 5,000,000 Light violet Minsk Sports Palace Image of the "Raubichy" sports complex 6 September 1999
Second ruble (BYR) In 2000, notes were introduced in denominations of 1, 5, 10, 20, 50, 100, 500, 1,000, and 5,000 rubles (BYR), with 1 BYR = 1,000 BYB (first ruble). In 2001, higher denominations of 10,000, 20,000, and 50,000 rubles were introduced, followed by 100,000 rubles in 2005 and 200,000 rubles in 2012. There were no coins or banknotes issued in copecks.
"On 1 September 2010, new rules of Belarusian orthography came into force. According to the old rules, the correct spelling of the word "fifty" in Belarusian was (piaćdziesiat) but under the new rules, it should be spelled (piaćdziasiat) the difference being that the seventh character was the Cyrillic letter YE but is now the Cyrillic letter YA. As a result of these new rules, the existing 50 and 50,000 ruble notes dated 2000 now technically contain errors where the denominations are spelled out on the notes. On 29 December 2010, the National Bank of Belarus introduced new 50- and 50,000-ruble banknotes to bring the inscriptions on the notes into compliance with the new rules of Belarusian spelling and punctuation. The images, colors, and sizes of the notes remain consistent with the preceding issues of the same denominations dated 2000. The modified 50 ruble notes also no longer has a security thread, and the modified 50,000 ruble notes have replaced the solid security thread for a 2mm-wide windowed security thread."
2000 Series Image Value Dimensions Main Color Description Date of Obverse Reverse Obverse Reverse issue withdrawallapse Rbl 1 110 × 60 mm Green The building of the National Academy of Sciences of BelarusDenomination in figures 1 January 2000 1 January 200331 December 2003 Rbls 5 Rose-red View of the Trayetskaye Pradmyestsye in Minsk 1 September 200430 June 2005 Rbls 10 Light blue The building of the National Library of Belarus 1 March 201331 March 2014 Rbls 20150 × 69 mm Olive-yellow The building of the National Bank of Belarus The interior of the building of the National Bank of Belarus Rbls 50 Orange-red The Kholm Gate - fragment of the Memorial Brest Hero-Fortress The main entrance to the Memorial Brest Hero-Fortress1 July 20151 July 2016 Rbls 100 Green The National Academic Great Opera and Ballet House of Belarus in Minsk Scene from ballet "Favourite" by E.A. Hlebau 1 January 20171 January 2022 Rbls 500150 × 74 mm Light brown The Republican Trade Unions' Palace of Culture in Minsk Architectural decorations on the Republican Palace of Culture of Belarus Rbls 1,000 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 Rbls 5,000 Light violet Minsk Sports Palace Image of the "Raubichy" sporting complex Rbls 10,000 Pink Panorama of Vitebsk city Summer amphitheatre in Vitebsk 16 April 2001 Rbls 20,000 Grey Gomel Palace A view of the palace from A. Idzkouski's picture in Homyel 21 January 2002 Rbls 50,000 Sky blue A castle in the settlement of Mir, Karelichy district, Grodno Region Decorative collage of architectural elements of Mir Castle 20 December 2002 Rbls 100,000 Orange The Nesvizh Castle View of the Radziwills' Castle in Niasvizh from a painting by the Belarusian artist Napoleon Orda 15 July 2005 Rbls 200,000 Light green The Mogilev Maslennikov Art Museum Decorative collage of architectural elements of the museum building 12 March 2012
Third ruble (BYN)