What is the currency in Belarus? What is its exchange rate?

What is the currency in Belarus? Just like us, Russians, Belarusians have their own ruble, it's also a "bunny." This is a very interesting currency. It was created in conditions of a difficult transition period for Belarus after the collapse of the USSR, but it was held as a full-fledged, recognized by all countries of the world money symbol.

Belarusian ruble: interesting facts

What is the name of the currency in Belarus? Unambiguously, the ruble. But in the early 90's, when the newly independent Republic of Belarus worked on the creation of banknotes, there was an idea to call the national banknote a "thaler". This is how some types of coins were called in the Middle Ages in Germany, and this word became common in Europe. "Thaler" became a prototype of the "dollar", as well as a number of other currencies at different times.

However, this initiative was not adopted by the Presidium of the Supreme Council of Belarus - the majority of votes opposed. Another fact: Belarusians sometimes call their currency "bunnies". This is because on bills denominated in 1 ruble, issued in 1992, the hare was depicted. The people very quickly adapted to call the new currency the name of this fluffy animal.

Belarusian ruble: history

After the collapse of the Soviet Union, all former republics began printing their banknotes. About what currency in Belarus should appear as an alternative to the Soviet ruble, the local government began to think about in 1992. First, so-called coupons were introduced. In May 1992, the National Bank of the country introduced "settlement tickets", which were used simultaneously with the ruble (still a Soviet model). When buying something in the store it was necessary to pay with both types of settlement funds. In July 1992, Belarusian national rubles appeared, however, in a non-cash form: they were in the Central Bank of Russia on a special correspondent account. Against the background of the former Soviet republics' exit from the ruble zone in 1992, Belarus banned the payment of banknotes of Russian origin and the times of the USSR and fixed the "tickets" as the only legitimate means of payment for goods and services.

In 1993, rubles were withdrawn from circulation. In 1994, the National Bank of the country announced the decree "On Payment Means of the Republic of Belarus". According to this document, the country has a new currency - the Belarusian ruble. Settlement tickets were exchanged for him in the proportion of 1 to 10. In the same year, the ruble was denominated so that the value of these two payment instruments equalized. The national bank account of Belarus began to be traded on stock exchanges. Foreigners from this moment, in turn, now had to keep in mind which currency to take to Belarus.

Inflation in the 90's

Before deciding on which currency in Belarus will be able to perform the function of a full payment means, the bankers of the country worked in difficult economic conditions. When it was finally approved, the real state of the post-Soviet collapse was felt by the young state in full. In the 1990s, the new currency of the Republic of Belarus, due to inflationary processes, was constantly growing in value and at the same time became cheaper in relation to the world's major moneymarks. For example, in early 1994, the dollar was worth 3,800 "hares," and in December - more than 10,000. In 1995, the ruble continued to get cheaper, but more slowly - in March, an American bank account cost about 12,000 Belarusian units. Moreover, until the spring of 1996, the exchange rate fluctuations were insignificant. True, as some financial analysts note , this was due to a large loan from the IMF - about $ 300 million. However, in mid-1996 the Belarusian ruble began to lose in value again. By December, the rate was set at the level of 1 to 15 000. And this, as noted by experts, is just a nominal figure. The real market ratio required about 26,000 units of Belarus banknotes for the US dollar.

By December 1998, the rate had reached the level of 1 to 320,000. In 2000, the Belarusian ruble underwent a denomination - banknotes with a nominal value ranging from 1 to 5000 national banknotes were introduced. Belarusians, especially entrepreneurs, sometimes used in their calculations precisely American monetary units. Residents of the country, as some experts say, did not know themselves what kind of money in Belarus is considered national - dollars or still "hares".

2000s: relative stability?

In the year of the denomination, the Belarusian ruble continued to drop sharply - by December the exchange rate to the dollar was 1 to 1180. But in the next few years there was a relative smoothness in adjusting the cost of the "bunny". From 2001 to 2008, the rate of the Belarusian ruble rose to 2100-2200 units per dollar.

The first time in a long time, a surge in the devaluation occurred in early 2009, when the Belarusian national currency fell to 2650 for 1 unit of the US currency. By the middle of the year, the figure had increased to 4930. In practice, two courses appeared - official and "underground". By October, for 1 US dollar, it was required to pay 8,680 Belarusian rubles. Since then and until now, however, the exchange rate of Belarus has not changed very much. Now for 1 dollar you need to give about 10 thousand Belarusian rubles.

What determines the exchange rate of the Belarusian ruble

Many factors influence the exchange rate of the Belarusian national currency. Now, as many economists admit, the country's economy is undergoing difficult times. Belarus needs to pay external debts, diversify exports. If the solution of these issues is unsuccessful, the national currency of the country, as analysts believe, will be cheaper. An important role, experts say, is played by Russia. At the end of last year, at the highest level, it was possible to agree that Russia would give Belarus a 10-year loan of 450 million dollars. Also, the state-owned banks of Russia can provide additional loans to the neighboring country. At the very end of 2013 Belarus received a loan from VTB in the amount of 440 million dollars, however, analysts say, this is not enough given the payment of state debt of 3.6 billion units of the US currency in 2014. What is Belarus's way out? The first, experts say, is the sale of state-owned enterprises, privatization. The second is to negotiate with other countries (first of all, with Russia) about further work with the public debt. On how the government of Belarus will conduct business in each of these areas, and the course of the national currency mark will largely depend. Which currency in Belarus is stable, promising or subject to a crisis? The question is rather complicated, and not all experts can answer it unambiguously.

Rubles and Altyns

The currency of Belarus, as well as its Russian counterpart, are one of the leading means of settlement in the Customs Union - the interstate economic association of Russia, Belarus and Kazakhstan. Recently in the media there was information that soon, along with the banknotes of the three countries, a new currency unit, altyn, would appear. According to this information, the currency can be put into circulation by 2025 (and in some media there are forecasts where 2019 appears).

There are experts who say that an interstate, though unofficial, agreement on the turnover of this banknote already exists. The initiative of the governments of the three countries is connected, according to analysts, with the complication of the international political situation, and also because the integration of economies may require the introduction of universal means of settlement.