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01 December 2016, 18:54

Nearly all old banknotes out of circulation in Belarus

MINSK, 1 December (BelTA) – The National Bank of the Republic of Belarus (NBRB) has managed to withdraw about 95% of the old-denomination banknotes from circulation, BelTA learned from the Information and Public Relations Office of the country's central bank.

The NBRB representatives explained that as of 1 December the central bank has withdrawn about 95% of the sum and 54% of the quantity of the year 2000 type banknotes, which were outside the cash offices of the central bank on 1 July 2016.

Virtually all the large-denomination banknotes — Br50,000, Br100,000, and Br200,000 — have been withdrawn (99.4%). Only 30% of the total small-denomination banknotes (Br100, Br500, and Br1,000) have been withdrawn.

31 December 2016 is the last day the old banknotes can be used as a valid currency.

The decision to redenominate the Belarusian ruble as from 1 July 2016 is laid down by Belarus president decree No. 450 of 4 November 2015. As part of the redenomination process the existing banknotes, which are dated by 2000, are replaced with bank notes and coins dated by 2009 at a ratio of 10,000 to 1.

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