Belarus banknotes to face rebranding

Belarus banknotes to face rebranding

Amid the political and economic stand-off, the wind of changes affected Belarus. While its neighbor countries are dividing territories, replacing governments, withstanding sanctions, and reconsidering their economic policies, Belarus is afoot to change its national currency. President Aleksander Lukashenko displayed his large-scale mind promising to introduce new banknotes, beautiful like euros. Unfortunately, a similar design will be the only common feature to the European currency, unlike a steady exchange rate and high value on the forex market. The head of state announced that new bills resembling euros will be launched into circulation after the redenomination is over. “I know you demand a new beautiful currency because millions of Belarusian rubles are heavy to carry in wallets. The time will be ripe for it. We need to push forward with the economy. We need to achieve certain stability,” Lukashenko addressed employees of the aircraft repair plant in Baranovichi. At the meeting with the staff of one of the largest factory, it emerged that newly designed banknotes had been printed and delivered to special storage facilities. So, they are about to appear in circulation. Redenomination deadlines are frequently touched on in the local media. Belarus’ President highlighted the gravity of this financial procedure, but he added that “the country is still awaiting the appropriate moment which is not yet ripe for it.” However, Lukashenko noted that the introduction of the new bills has been technically prepared. Besides, he assured nationals that it would not take place all of a sudden. The government will notify people of the exact date at least half a year before the launch. Meanwhile, most of economists believe that it will hardly happen in 2014. Nadezhda Yermakova, the National Bank Governor, shares this view and thinks that a hyperinflation period is not the best time to set about the fiscal reform. Throughout the contemporary history, Belarus will face the third redenomination. The Belarusian currency was redenominated on August 20, 1994, with one new unit equaling 10 old ones, and the second time it lost three zeros on January 1, 2000.

Posted on: 2014-04-08 19:36:00 UTC
Back to the list
Quick News
Tuesday, 21 October 2014
00:49
ANALYSTS: RBNZ OFFICIAL INTEREST RATES WOULD STILL NEED TO RISE
00:46
AMP CAPITAL: NEW ZEALAND DOLLAR IS EXPECTED TO FALL FURTHER
00:44
Yen Rises To 4-day High Of 172.04 Against Pound
00:43
AMP CAPITAL: RBNZ INTEREST RATES WILL GO UP NEXT YEAR
00:43
AMP CAPITAL: NEW ZEALAND DOLLAR IS EXPECTED TO FALL FURTHER
00:42
NZ Dollar Advances To 6-day High Of 1.0983 Vs Australian Dollar
00:40
TOKYO'S NIKKEI SHARE AVERAGE EXTENDS FALL, DOWN 2.07 PCT
00:40
NZ Dollar Climbs To Near 1-month High Of 1.5951 Vs Euro
00:39
NZ Dollar Rises To Near 2-week High Of 85.47 Vs Yen
00:34
India Sep Leading Index Up 0.9% Vs. -1.2% In August
00:33
U.S. Dollar Drops To Near 2-week Low Of 1.6181 Against Pound
00:32
U.S. Dollar Slips To 4-day Low Of 1.2817 Against Euro
00:32
U.S. Dollar Slides To 4-day Low Of 104.46 Against Yen
00:07
U.S. Dollar Falls To 4-day Low Of 0.9413 Vs Swiss Franc
00:04
Yen Rises To 4-day High Of 94.41 Vs Canadian Dollar
M5 M15 M30 H1 H4 D1 W1
EURUSD 1.2821 -0.0001
GBPUSD 1.6181 -0.0001
USDJPY 106.37 +0.01
USDCHF 0.9410 0.0000
USDCAD 1.1266 +0.0001
Symbol Bid Ask
EURUSD 1.2821 1.2824
GBPUSD 1.6181 1.6184
USDJPY 106.37 106.40
USDCHF 0.9410 0.9413
USDCAD 1.1266 1.1269
EURJPY 136.39 136.42
EURCHF 1.2064 1.2069
EURAUD 1.4550 1.4557
GBPJPY 172.14 172.21
GBPCHF 1.5226 1.5233
SILVER 17.445 17.485
GOLD 1248.48 1249.08
Forexpedia
Options are one of the most flexible yet riskiest investment instruments in the financial market. Traders can leverage their position in order to optimize returns, minimize risks by using the options...