Official denomination of Belarusian monetary unit

01.06.2016 #community #Belarus

In accordance with the Decree of the President of the Republic of Belarus  № 450 dated November 4, 2015 "On conducting the official denomination of the Republic of Belarus monetary unit" from  July 01, 2016 the official denomination of the currency of the Republic - Belarusian ruble will be held.

The decision about the Belarusian ruble denomination was adopted in order to:

  • further improve the circulation of money
  • simplify accounting and settlements in the country
  • maintain an optimal structure of denominations
  • significant reduction in government spending on maintenance of cash circulation

Macroeconomic policy in 2015 established a level of balance in the economy due to the improvement in trade balance and rigid orientation of monetary policy on inflation reduction.

The scope of consolidation of the national currency (10000:1) is selected based on an analysis of statistical data, as well as in accordance with the already existing cash marks.

The process of denomination is of technical nature and does not affect the purchasing power of Belarusian ruble, its exchange rate, etc.

More information can be found here.

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