Belarusian Currency: Exploring Coin Usage In Belarus

Belarus uses coins, but this is a relatively recent development. The country's currency is the Belarusian ruble, which is subdivided into 100 kopecks. In July 2016, Belarus issued coins for general circulation for the first time. Eight denominations of coins were introduced: 1, 2, 5, 10, 20, and 50 kopecks, as well as 1 and 2 ruble coins. This was the result of a currency redenomination that removed four zeros from the Belarusian ruble. Prior to this, Belarus had not issued coins due to rampant inflation. Commemorative coins have been produced by the National Bank of Belarus since 1996, which are of interest to coin collectors and are legal tender.

Belarus's currency, the ruble, is subdivided into 100 kopecks

Belarus's currency is the ruble, which is subdivided into 100 kopecks. The country's first post-Soviet currency, the Belarusian ruble was introduced in May 1992, replacing the Soviet ruble at a rate of 1 Belarusian ruble to 10 Soviet rubles. The modern Belarusian ruble has been through three iterations, with the current version being the third ruble (BYN), introduced in July 2016. This replaced the second ruble (BYR) at a rate of 1 BYN to 10,000 BYR.

The Belarusian ruble is not a fully convertible currency, so it cannot be obtained outside of Belarus. Banknotes are available in denominations of 5, 10, 20, 50, 100, 200, and 500 rubles, while coins come in denominations of 1, 2, 5, 10, 20, and 50 kopecks, as well as 1 and 2 rubles. The banknotes feature architectural heritage from various historical periods, reflecting the motto, "Belarus is my country." The coins, on the other hand, draw inspiration from Belarusian folk art, particularly the popular weaving genre.

The introduction of the third ruble in 2016 marked a significant change in the country's monetary system, as it was the first time in modern Belarusian history that coins were issued for general circulation. Prior to this, the country had experienced chronic double-digit inflation, making coins impractical. The return of coins was largely symbolic, evoking nostalgia for the Soviet era when Belarusians last enjoyed economic stability.

Commemorative coins are minted for collectors and are legal tender

Belarus has issued coins for collectors that are also legal tender. The country's first coins, the kopeck, were introduced in 1996 as commemorative collectibles. These coins were minted by the National Bank of Belarus and are of interest to coin collectors. The designs of these coins depict various themes, historical events, and famous people. They are made of gold, silver, and copper-nickel alloy.

The National Bank of the Republic of Belarus puts commemorative coins into circulation. The first coins of the Republic of Belarus were issued on December 27, 1996. The production of these coins is a result of the country's sovereignty and its issuing institution. The coins feature a variety of themes, including native culture and events, fairy tales, and pop culture topics unrelated to Belarus. Most of the coin designs were developed by Belarusian designers and feature traditional Belarusian geometric ornaments.

The commemorative coins come in a range of denominations, with most having a face value of 1 ruble, while a few are 3, 5, or more rubles. These coins are considered novelties and are unlikely to be seen in general circulation. They are minted in Slovakia and Lithuania and come in denominations from one kopeck up to 2 rubles.

The designs of the coins are inspired by Belarusian folk art, specifically the popular genre of weaving. The coins feature the national emblem of Belarus, the inscription 'БЕЛАРУСЬ' (Belarus), and the year of minting on their obverse. The reverse side of the coins shows the value and different symbolic ornaments.

The 2016 redenomination of the ruble was the third since 1995

The Belarusian ruble is the official currency of Belarus. It is subdivided into 100 kopecks. The 2016 redenomination of the ruble was the third since 1995.

First Ruble (BYB), 1992-2000

The first post-Soviet Belarusian ruble was introduced following the collapse of the Soviet Union. From then until May 1992, the Soviet ruble circulated in Belarus alongside the Belarusian ruble. The first Belarusian ruble replaced the Soviet currency at a rate of 1 Belarusian ruble = 10 Soviet rubles.

Second Ruble (BYR), 2000-2016

In 2000, a new ruble was introduced, replacing the first at a rate of 1 BYR = 1,000 BYB. This redenomination removed three zeros from the currency. Only banknotes were issued; coins were minted solely as commemorative collectibles.

Third Ruble (BYN), 2016-present

In July 2016, a new ruble was introduced, replacing the second at a rate of 1 BYN = 10,000 BYR. This redenomination removed four zeros from the currency. For the first time in the history of sovereign Belarus, coins were issued for general circulation. Beginning on July 1, 2016, seven banknote denominations (5-, 10-, 20-, 50-, 100-, 200-, and 500-ruble notes) and eight coin denominations (1-, 2-, 5-, 10-, 20-, and 50-kopeck coins, as well as 1- and 2-ruble coins) were put into circulation. The banknotes feature security threads and show 2009 as the issue date. The obverse of the coins bears the image of the State Coat of Arms of the Republic of Belarus, while the reverse features the numerical symbols of the coins' denominations.

The 2016 redenomination was carried out to improve money circulation, streamline accounting and settlements, maintain the optimal structure of money denominations, and reduce public expenditures on servicing cash circulation in the Republic of Belarus. It was also intended to address the issue of rampant inflation, which had been a problem since the country's independence.

The 2016 redenomination caused cash registers to be replaced

In 2016, Belarus redenominated its currency, the Belarusian ruble, by removing four zeros from the currency. This meant that the lowest denomination of the new currency line – 1 copeck – replaced the current banknote of the lowest denomination – 100 Belarusian rubles.

The redenomination also saw the introduction of coins for the first time in the modern history of Belarus. The new currency comprised seven denominations of banknotes – 5, 10, 20, 50, 100, 200, and 500 rubles – and eight denominations of coins – 1, 2, 5, 10, 20, and 50 copecks, and 1 and 2 rubles.

The introduction of coins had a significant impact on cash registers in Belarus. Prior to the redenomination, cash registers in the country were designed to tally up only banknotes and did not include decimal points for kopeks. As a result, there were at least 23,000 cash registers that could not work with decimals and had to be completely replaced. The cost of replacing these obsolete machines was estimated to be over $2 million.

Anatol Shumchanka, a Minsk entrepreneur and head of Perspektiva, a nationwide association of private vendors, stated that most of the quarter-million cash registers in Belarus could be reprogrammed by technicians to accommodate decimals. However, this reconfiguring process would incur additional expenses for licensing, documentation, and other administrative tasks. The cost of reprogramming was estimated at around $30 per machine.

The 2016 redenomination was accompanied by a new series of banknotes

Belarus' currency is the ruble, which is subdivided into 100 kopecks. The country introduced its own currency in 1992 following the breakup of the Soviet Union.

In 2016, Belarus redenominated its currency, introducing a new ruble (ISO 4217 code BYN) at a rate of 1 BYN = 10,000 BYR (second ruble). This was accompanied by a new series of banknotes and, for the first time, coins for general circulation.

The 2016 redenomination was implemented through the substitution of the banknotes in circulation of the 2000 series with the banknotes and coins of the 2009 series. This was done at a ratio of 10,000 Belarusian rubles of the 2000 series to 1 Belarusian ruble of the 2009 series. The new series of banknotes featured advanced and reliable protective elements, offering a high level of counterfeit protection.

The 2009 series of banknotes included seven denominations: 5-, 10-, 20-, 50-, 100-, 200-, and 500-ruble notes. Each banknote was dedicated to one of the regions of Belarus and the city of Minsk, with the coincidence of regions and denominations determined in alphabetical order. The general concept of the new banknote designs reflected the motto, "Belarus is my country". The obverse of the banknotes, from small to large denominations, depicted the architectural heritage of Belarus from its origins to the present day. The reverse of the banknotes disclosed the paintings depicted on the obverse and highlighted the historical, cultural, and spiritual heritage of Belarus using symbols from the respective era.

The 2009 series of coins included eight denominations: 1-, 2-, 5-, 10-, 20-, and 50-kopeck coins, as well as 1- and 2-ruble coins. The obverse of the coins featured the state coat of arms of the Republic of Belarus, while the reverse displayed the numerical symbols of the coins' denominations. The coin designs were inspired by one of the most popular genres of Belarusian folk art—weaving.

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