Transferring new money to Belarus. The National Bank will continue to print new money, why and what will change? Five naive questions about this. What is a denomination
Banknotes and coins of the National Bank of the Republic of Belarus, issued for circulation from July 1, 2016, are presented today on the National Bank’s website.
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 model maintains continuity with the banknote series of the 2000 model in terms of the use of images of architectural and urban planning monuments, according to the website of the National Bank of Belarus. 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.
This is what the current 50 thousand rubles will look like.
This bill is equal to the current 100 thousand rubles.
Instead of the current banknote with a face value of 200 thousand rubles.
If we had a banknote with a face value of 500 thousand rubles, this is what they would look like after redenomination.
Equivalent to 1 million rubles.
Think of this bill as 2 million rubles.
This bill is equal to the current 5 million rubles.
Here there are 100, as well as 200 and 500 current rubles.
Equivalent to the current 1 thousand, 2 thousand and 5 thousand.
And this is 10 thousand and 20 thousand current rubles.
The denomination will take place on July 1, 2016 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, given the chosen scale of enlargement of the Belarusian ruble (1:10 000), the lowest denomination of the banknote currently in force – will be replaced by the lowest denomination of the new currency series – 1 kopeck.
To 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 January 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 on the denomination of the Belarusian ruble has been made in order to improve money circulation, simplify accounting and settlements, maintain an optimal banknote structure of the money supply, and significantly reduce government spending on 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.
So, 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 any product cost, for example, 100,000 rubles, then, after denomination, its price will be 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.
By a similar principle when carrying out denominationsalaries, pensions, scholarships, cash balances in bank accounts, balance sheets of enterprises and institutions, etc. will be recalculated.
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 through the letter “ya” in the second syllable - “pyatsdzyasyat”.
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There is less than a week left before new banknotes appear in circulation in Belarus and coins begin to ring. The denomination will pass (“4 zeros will be discarded”). One hundred rubles will turn into one kopeck, and the largest new bill of 500 rubles will be equivalent to the old 5 million.
the site decided to once again remind you about the ratio of new and old banknotes, until what time the banknotes of the 2000 model will be valid, and also to study the visual signs of authenticity of the new banknotes, so as not to fall for a counterfeit.
Main stages
It's important to remember that You can exchange old banknotes for new ones until January 1, 2022!
Stages of denomination:
Until the end of 2016, new and old money are in parallel circulation and are required to be accepted by all business entities when making all types of payments without restrictions. All business entities are required to indicate two prices - in old and new money.
January 1, 2017 – December 31, 2021. Old banknotes can be exchanged for new ones in any amount without restrictions and without charging a commission: new banknotes and coins will appear gradually in ATMs, bank cash desks, trade and service organizations, as the equipment is reprogrammed.
From January 1, 2017 to December 31, 2019 - at the National Bank, banks and non-bank financial institutions of Belarus.
From January 1, 2020 to December 31, 2021 - at the National Bank of the Republic of Belarus.
Visual signs of the authenticity of 2009 banknotes
Using the example of a 20 ruble banknote
The banknotes are made on special paper with randomly arranged security fibers in blue and red, as well as yellow, which fluoresce in ultraviolet rays.
1. Watermark. To the left of the main image on the unprinted field there is a local halftone watermark that repeats a fragment of the main image of the front side of the banknote.
2. Security thread. Metallized window (diving) type, emerging on the surface of the front side of the banknote in the form of rectangles forming a dotted line. When viewing a banknote against the light, the security thread appears as a solid dark stripe with negative (light) text in upright and inverted images.
3. Marker for people with low vision. The geometric shapes printed in the lower left corner of the front side of the banknote have an increased thickness of the ink layer, making them easy to touch.
4. Overlapping image. Fragments of the image of the denomination at the top left on the front and at the top right on the back sides of the banknotes are combined in the light, forming a solid image of the denomination of the banknotes.
5. Hidden image. When examining the banknote against the light, an image of the banknote's denomination is visible in the pattern of the ornament printed on the left side of the front side of the banknote. (With the exception of banknotes in denominations of 5, 10 and 20 rubles).
6. Color-variable ink (OVI). When the banknote is tilted, the denomination digits printed in the upper right corner of the reverse side of the banknote change color. (Only for banknotes in denominations of 200 and 500 rubles).
On the obverse (front side) of the coins the State Emblem of the Republic of Belarus is depicted, on the reverse (back side) there are digital designations of the coin denominations.
Let us tell you what currency is currently used in Belarus and why it is called “bunnies”. Let’s take a separate look at exchangers and the current exchange rate.
Belarus uses its own rubles. They are similar to Russian ones only in name, and even then, locals more often call them “bunnies.” Where did such a diminutive name come from, and what is remarkable about this currency? Let's start from afar.
Since 1 2016, the ISO code of the Belarusian ruble is BYN (before that it was BYR). To determine the exact exchange rate to the Russian ruble, euro or dollar, use a special calculator.
A brief background for the most meticulous
The Belarusian currency is relatively young. Until 1991, the country used exclusively Soviet rubles, but with the collapse of the USSR, the question arose about the need to create its own banknotes. The fact is that, compared to the rest of the countries of the Soviet Union, Belarus had the lowest prices for food products, and in order to prevent their mass export by foreigners, the government introduced special coupons for goods.
At first, coupons were used along with Soviet rubles, and at the end of 1992 the country switched to payment tickets, the rate of which was equal to 10 Soviet rubles. At that time, the new national currency itself was lying on electronic accounts and waiting in the wings.
Some public figures first proposed calling the means of payment “thaler” - in honor of an old German coin. Sketches of banknotes and coins (“pennies”) were even developed. However, in the end, only the poet Nil Gilevich supported this name, while the majority spoke in favor of a more familiar name - “Belarusian ruble” or “ruble”.
From mid-1993, Soviet money gradually began to be withdrawn from circulation, and in 1994, the local ruble acquired the status of the only legal means of making payments on the territory of an independent state.
Where did those “bunnies” come from?
In order to move away from the political theme as much as possible, it was decided to use neutral images for the banknote design. Thus, various animals appeared on banknotes: bison, bear, squirrel, lynx, elk, wolves, beavers and the notorious hare, thanks to which people began to call the new money “bunnies” (hare = 1 ruble).
Animals decorated banknotes with denominations up to 100 rubles. But on larger banknotes there are images of architectural monuments.
There are no longer animals on the new banknotes (modified in 2011); instead, the images on the banknotes are dedicated to different regions of the country. Nevertheless, Belarusians still habitually call local money “bunnies”.
Denominations and modern course
The currency of Belarus has gone through difficult times. If in 1992-1994. One local ruble could be purchased for 10 Soviet rubles, but in subsequent years its exchange rate began to fall steadily under the influence of inflation.
In 1994, the Bank of Belarus carried out the first redenomination of its currency by 10 times. After 6 years, another denomination was required - this time by a factor of 1000! And on July 1, 2016, a 10,000-fold denomination took place, and for the first time coins in denominations from 1 kopeck to 2 rubles appeared in use. Previously, only commemorative coins were issued in the country.
Where is the best place to exchange Russian rubles for local ones?
Since the Belarusian ruble is a non-convertible currency, it cannot be purchased outside the republic. But within the country, any currency can be freely exchanged for national currency. This can be done at exchange offices located at airports, bus stations, hotels and large shopping centers.
A passport may be required for the exchange procedure. Receipts and checks received during the exchange should be kept: they will be required when traveling outside the country.
For the second time in the history of the country's independence, denomination was announced, and, consequently, new money was introduced into circulation. In Belarus, which is already accustomed to living in a world of millionaires, such changes have created a real sensation. Even six months after the announcement of the denomination, when the old money should finally be withdrawn from circulation, many continue to count as they have been accustomed to for many years. So, what are they new?
What has changed?
Let's start with the fact that samples of new money in Belarus were developed long before their introduction into circulation - the bills themselves were already printed in 2009 and locked in secure storage facilities. As part of the denomination, four zeros were cut off, that is, if in old banknotes the minimum denomination was one hundred rubles, now it is one kopeck.
For Belarusians who had not previously used coins, such innovations came as a not very pleasant surprise: not only did they have to change wallets (after all, old wallets did not have special compartments), but also automatic machines, ATMs and other machines that previously accepted even the most small bills, not reconfigured for pennies. It is also worth noting that even the acquisition of new wallets did not help people adapt to the new money, but more on that later.
Design
Yes, the new money in Belarus, unlike the old ones, is more reminiscent of European than Soviet. Moreover, denominated rubles (which is what the new currency was called in the country at a time when it still coexisted with the old money) were even criticized for their excessive similarity to the euro.
A separate advantage was that Belarus retained the concept of depicting historical buildings on new banknotes, although now, with the reduction in the number of denominations of paper money, some landmarks had to be abandoned. Each region of the republic is immortalized on the banknotes, and not only well-known places were chosen as symbols, but also those whose image evokes positive associations among Belarusians.
Unaccepted projects
Of course, there were also those who wanted to see the new money in Belarus completely different. Photos of possible banknote options appeared on the Internet even a year before the redenomination. Many suggested placing famous Belarusians in the portraits; however, they differed on who exactly deserved to represent the country on its banknotes: some turned to the fighters for Belarusian statehood, others to the rulers of different eras, and still others to figures of science and art.
Another interesting concept that never came to fruition was using images of antique household items and jewelry to remind people of their roots. The third option proposed reorienting the bills, that is, making them not the usual horizontal, but vertical, in the manner of Israeli or Swiss monetary units. The most radical of all proposed is the renaming of the currency to the thaler, in the manner of the currency of the Grand Duchy of Lithuania, with the image on the banknotes of people who gave their lives for the sovereignty of the state.
Protection system
Before it was released into circulation, no one could say what the new money would be like in Belarus. It was known that new security technologies were used in their production, which would make counterfeiting almost impossible. The banknotes contained special signs in the form of geometric shapes, by which visually impaired people could recognize the denominations. In addition, a special method was used to strengthen the corners, thanks to which the bills will be more resistant to abrasion, which could not be said about old-style money. Another difference is the change in the design: in the light, not abstract patterns are visible, but the building depicted on the banknote. The traditional thing that has been preserved in the way the new money of Belarus looks is the following: stitching with a special tape with the embossed abbreviation NBRB (National Bank of the Republic of Belarus). This is also aimed at improving the security of banknotes against counterfeiting.
Coins
But the most anticipated and anticipated coins in Belarus are coins. Eight denominations were issued - 1, 2, 5, 10, 20, 50 kopecks, 1 and 2 rubles. Coins can be divided into three groups: red (the smallest, the ornament applied to them is a sign of wealth and prosperity), yellow (10-50 kopecks with an ornament symbolizing vitality) and silver (to be more precise, the ruble coin is completely silver, and the two-ruble one is silver with a wide gold edging; the applied ornaments indicate freedom and freedom).
At the same time, despite the originality and unusualness, even today, six months after the introduction of the new coins, it is difficult to say what these samples of the new money of Belarus will look like in five to ten years. The fact is that coins of small denominations are made so poorly that it is difficult for a young person to see what is written on them, let alone someone who has poor eyesight. In addition, denominations wear off very quickly, and small coins themselves are subject to corrosion. As for the two-ruble coins, which the republic is so proud of, it turned out that when not very much force is applied, the coin easily breaks into two components - all this clearly does not contribute to the popularization of new money among the population.
Consequences
Yes, the time has already passed when people wondered what the new money would be like in Belarus. Photos of price tags that did not have the usual zeros, incomprehensible at first conversions between old and new money that baffled even those who are good at mathematics - all this has already subsided.
From January 1, 2017, six months after the official introduction of banknotes of the 2009 model into circulation (which is why the adjective “new” sounds so paradoxical next to them), the use of old money ceases and its withdrawal begins. The population is given another five years to completely get rid of outdated monetary units and finally get used to what the new money of Belarus looks like.
Attempts to understand
What changed when new money appeared in Belarus? Photos of banknotes immediately after the denomination flooded the Internet, causing the country to be hit with a barrage of jokes about long-forgotten banknotes with images of animals, popularly nicknamed “bunnies” (they were in use in the mid-nineties).
Has the financial well-being of the population changed? No, on the contrary, from a country of millionaires, Belarus has turned into a country where a person can receive his entire salary in a few bills.
When there were conversations about what new money would be in Belarus, a photo of a bill whose denomination was equivalent to 50 dollars was surprising, let alone the bills equal to 100 and 250 dollars (however, it should be noted that the latter are not available to the general public). For people who are accustomed to the fact that “two rubles” (which is what 2,000 old rubles used to be called) is a tenth of a dollar, now the stable “dollar - two rubles” sounds a little reassuring. In addition, due to confusion with prices (especially during the period when it was possible to pay and receive change using both new and old money), the state was able to increase them without the population noticing. It’s easier to say that the new money in Belarus, despite the fact that it was pleasing to the eye, brought more difficulties and problems. Or perhaps this is all a temporary phenomenon that will disappear when the state finally gets rid of old money in its consciousness.
P.S.
Today we already know the answer to the question of what new money will be in Belarus. It remains only to understand whether they will bring the country the very benefit that those who released them advocated for.