Tuesday, July 29, 2014


Belarus

Belarus Issues New 200,000-Ruble Banknote

A woman holds a new 200,000 Belarusian ruble note (approximately $24.48) during a presentation to the media in Minsk on March 12.
A woman holds a new 200,000 Belarusian ruble note (approximately $24.48) during a presentation to the media in Minsk on March 12.
By RFE/RL's Belarus Service
MINSK -- The National Bank of Belarus has issued a new banknote worth 200,000 Belarusian rubles ($24.50), doubling the face value of its highest bill in the wake of a buffeting of the currency last year.

Belarus National Bank Deputy Chairman Uladzimer Syanko told journalists that the introduction of the new banknote had nothing to do with speculation over a possible redenomination of the national currency. He did not exclude that new banknotes of higher face values might be introduced in future.

The Belarus National Bank's biggest previous banknote, worth 100,000 rubles, was introduced in July 2005.

In 2011, the Belarusian ruble came under heavy pressure amid a major economic downturn and a government move toward greater liberalization of the currency regime.
This forum has been closed.
Comment Sorting
Comments
     
by: Eugenio from: Vienna
March 13, 2012 09:27
As a matter of fact, the weaknes of the Belorussian currency is profitable for the economy of the country, as long as weak currencies (a) make it unprofitable to import goods into the country (as long as the imports are too expensive for the population to buy), (b) thus making it profitable to invest into producing these goods inside the country (local goods are moree affordable for the local population, and exporting them becomes more profitable - as long as they are cheapers than similar goods produced in harder-currency zones). As a result, weaker currencies tend to produce higher GDP growth rates and higher levels of employment (as long as more goods are produced domestically, you need more domestic labor force in order to produce them).
Exactly this happened in Russia after the devaluation of its ruble in August 2008 and in Argentina after the devaluation of its peso in December 2001. So, similarly, one can expect healthy economic growth in Belarus and higher levels of employment in the years to come. On the down side, travelling abroad will, of course, become more expensive for Belorussians.

Most Popular