Белорусский рубль: история и современность

Currency of Belarus

The ruble, rouble or rubel (, рубль; abbreviation: руб or р. in Cyrillic, Rbl in Latin (plural: Rbls); ISO code: BYN) is the currency of Belarus. It is subdivided into 100 kopecks (, копейка).

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 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 rubles. It took about two years before the ruble became the official currency of the country. 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. The banknotes have security threads and show 2009 as an issue date (the date of an unsuccessful attempt at currency reform).

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). 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

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.

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 Rbls 1,000 110 × 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 Rbls 5,000 110 × 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

On 2 January 2009, the National Bank of the Republic of Belarus lowered the exchange rate of the ruble by 50%. On 24 May 2011, the National Bank of the Republic of Belarus lowered the exchange rate of the ruble by 56%. Alexei Moiseev, chief economist at Russia's VTB Capital, said at the time that "a '91 style meltdown is almost inevitable", referring to the crisis which accompanied the dissolution of the Soviet Union. On 20 October 2011, the exchange rate of the ruble dropped 42% (from Rbl 5,712 to Rbl 8,680 per US$) when it was fully floated following demands to do so by Russia and the IMF. In January 2015, the National Bank of the Republic of Belarus devalued its currency by 23% against the US dollar despite efforts to keep Russia's currency crisis from spreading across the border. As of 1 February, one U. S. dollar was worth Rbls 15,400; by Tuesday, it fell to Rbls 15,450 to the dollar, as per data from the Belarusian Central Bank's website. As of mid March 2022, the Belarusian ruble had reached an all time low of Rbls 3.33 per US$1, during fallout from the 2022 Russian invasion of Ukraine. On 1 April 2022, it traded at Rbls 3.26 per US$, and had lost 21.5% of its value year to date. From 15 July 2022 to 1 October 2023 the currency was fixed at the rate of 2.5 in order to pay debts; since then its value remains fixed at 3.27