Since the adoption of sovereignty, the banknotes of Belarus have experienced a very interesting story. This article will talk about the way Belarus money went from the beginning of the country's independent existence to the present day, it discusses interesting facts about this currency, the stability of the currency, indicators that affect its stability, and ways that should help in this.
History
Even before the collapse of the USSR, the BSSR began to develop a plan to create their own national currency. But it didn’t lead to anything good, since there was a terrible economic crisis in the republic. Despite this, after some time, the currency was created and approved by all states of the world. At first they wanted to call the banknotes of Belarus “talers”, because the coins were called in Germany in the Middle Ages. But the inhabitants did not agree with this name, for in the republic the name "bunnies" was widely used.
Belarus began to issue its own money literally immediately after gaining sovereignty. The following year, after the collapse of the USSR, coupons appeared in Belarus, and a few months later, in May, the government introduced settlement tickets. All these funds were used throughout the country along with the ruble. Also, Belarus banknotes could be combined, for example, you could pay half of the purchase in rubles, and the other half using coupons.
But there was practically no cash in circulation, all of them were stored on electronic accounts. It was forbidden to even make calculations using the Russian ruble for this.
Inflation
In 1993, cash was discontinued. Now the money of Belarus has become the official monetary unit of the country, which was called the ruble. But with these positive changes, the negative came. And this was reflected in ordinary citizens of the state. Inflation began, the ruble fell compared to other units of the country. This is clearly illustrated by an example: at the beginning of 1994 the ruble amounted to about 3800 rabbits, and at the end of the same year this number was equal to 10000.
This situation continued until the end of the nineties of the twentieth century. So next year, the dollar was worth about 12,000 Belarusian rubles. About a year, this figure changed slightly. But by the end of next year, this figure increased by 3,000 Belarusian rubles. The money of Belarus began to be faked, people sorely lacked the means of subsistence, cases of attacks and robbery, fraud increased.
In just 2 years, the dollar against the Belarusian ruble has become unbearably high. One dollar was equated to 320,000 Belarusian rubles. Therefore, the government decided to denominate and issue new banknotes. At this time, people experienced a real crisis and realized the horror of what was happening. The country began to actively use dollars, national coins and banknotes in Belarus almost lost their value.
Modernity
In 2000, the government again held a denomination, which allowed to reduce the face value of banknotes by 1000 times. The design of banknotes has not changed much, the images that were printed on them remained unchanged. Only the color of monetary units became different. Also, a new ten-ruble note appeared, which was in the circulation of the country until 2013.
At the beginning of the 2000s, the Government also decided to issue settlement tickets of 10, 20 and 50 thousand rubles. Since 2004, coins with a nominal value of 1 and 5 rubles began to gradually go out of circulation.
But not so long ago, in 2016, coins and banknotes in Belarus again suffered a denomination of 10,000 times. Thus, the country returned to past standards.
Interesting Facts
- Belarusian monetary units began to be called bunnies, because in 1992 a bill was issued depicting a hare taken from the Soviet book about animals and birds. Later, commemorative stamps began to be produced with the hare.
- New banknotes and coins of Belarus often suffered bilingualism. For example, in 1992 a 500-ruble note was issued, on which all marks were made in Belarusian, and the slogan on the front side was written in Russian. Such banknotes are very valuable at present.
- In 1992, a banknote of 500 rubles was issued; it depicted a baribal bear. Interestingly, this species has never been found on the territory of the Republic of Belarus.
Unit stability indicators
- The size of external debt.
- Government loans.
- Political relations with the CIS countries.
Ways to solve the problem
The country's monetary unit is constantly being denominated, which indicates the instability of the currency. In order for this problem not to be so significant, it is necessary to carry out privatization and improve relations with countries - neighbors of the first order.
Despite the fact that the country's monetary units are constantly undergoing changes, the current banknotes of Belarus bear a great resemblance to the banknotes of the nineties of the last century.