Banknotes of Belarus: history, stability

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Belarusian banknotes have experienced a very interesting story since the adoption of sovereignty. This article will tell you about the path Belarusian money has traveled from the beginning of the independent existence of the country to the present day, consider interesting facts about this currency, the stability of the monetary unit, indicators that affect its stability, and ways that should help in this.

History

Even before the collapse of the USSR, the BSSR began to develop a plan to create its own national currency. But this did not lead to anything good, since there was a terrible economic crisis in the republic. Despite this, after some time, the currency was created and approved by all the states of the world. Banknotes of Belarus at first wanted to be called "thalers", because that was the name of the coins in Germany in the Middle Ages. But the residents did not agree with this name, because the name "bunnies" was widely used in the republic.

Own money Belarus began to issue literally immediately afteracquisition of sovereignty. The following year, after the collapse of the USSR, coupons appeared in Belarus, and a few months later, in May, the government introduced settlement tickets. All these funds were used throughout the country along with the ruble. Also, banknotes of Belarus could be combined, for example, you could pay for half of the purchase in rubles, and the other half using coupons.

But there was practically no cash in circulation, they were all kept in electronic accounts. It was forbidden even to make payments using the Russian ruble for this.

Inflation

In 1993, cash was discontinued. Now the money of Belarus has become the official monetary unit of the country, which was called the ruble. But with these positive changes came negative ones. And it affected ordinary citizens of the state. Inflation began, the ruble fell compared to other units of the country. This is clearly seen in the example: at the beginning of 1994, the ruble was about 3800 bunnies, and at the end of the same year this number was equal to 10000.

This situation continued until the end of the nineties of the twentieth century. So next year, the dollar cost about 12,000 Belarusian rubles. This figure has changed little over the years. But by the end of next year, this figure increased by 3,000 Belarusian rubles. The money of Belarus began to be counterfeited, people were sorely lacking means of subsistence, cases of attacks and robbery, fraud increased.

In just 2 years, the exchange rate of the dollar against the Belarusian ruble has become unbearably high. One dollar was equal to 320,000 Belarusian rubles. Therefore, the government decided to denominate and issue new banknotes. At this time, people experienced a real crisis and understood the horror of what was happening. The country began to actively use dollars, national coins and banknotes in Belarus have practically lost their value.

Modernity

In 2000, the government again carried out a denomination, which made it possible to reduce the denomination of banknotes by 1000 times. The design of the banknotes has not changed much, the images that were printed on them have remained unchanged. Only the color of monetary units became different. There was also a new ten-ruble bill, which was in circulation in the country until 2013.

At the beginning of the 2000s, the Government also decided to issue settlement tickets in 10, 20 and 50 thousand rubles. Since 2004, coins in denominations of 1 and 5 rubles have been gradually withdrawn from circulation.

But not so long ago, in 2016, coins and banknotes in Belarus again underwent a denomination of 10,000 times. Thus, the country returned to past standards.

Interesting facts

• Belarusian monetary units began to be called bunnies, because in 1992 a bill was issued with the image of a hare, taken from a Soviet book about animals and birds. Later, commemorative stamps began to be issued with the hare.
• New banknotes and coins of Belarus often endured bilingualism. For example, in 1992 was releasedA 500-ruble note, on which all marks were made in Belarusian, and the slogan on the front side was written in Russian. Such banknotes are very valuable nowadays.
• In 1992, a banknote of 500 rubles was issued, it depicted a baribal bear. It is interesting that this species has never been found on the territory of the Republic of Belarus.

Unit stability indicators

• External debt.
• Government loans.
• Political relations with CIS countries.

Ways to solve the problem

The country's currency is constantly denominated, which indicates the instability of the currency. In order for this problem not to be so significant, it is necessary to carry out privatization and improve relations with countries - neighbors of the first order.

Despite the fact that the country's monetary units were constantly undergoing changes, the current banknotes of Belarus bear a great resemblance to banknotes of the nineties of the last century.