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
Friday, 24 October 2014
16:10
FITCH - OUTLOOKS ON SPAIN'S LONG-TERM IDRS ARE STABLE
16:07
FITCH REVISES CYPRUS'S OUTLOOK TO POSITIVE; AFFIRMS AT 'B-'
16:07
FITCH - OUTLOOKS ON THE LONG-TERM IDRS FOR ITALY ARE STABLE
16:07
FITCH AFFIRMS SPAIN AT 'BBB+'; OUTLOOK STABLE
16:06
FITCH AFFIRMS TUNISIA AT 'BB-'/BB'; OUTLOOK NEGATIVE
16:05
S&P 500 POSTS BIGGEST WEEKLY PERCENTAGE GAIN SINCE JAN. 2013
16:05
FOR THE WEEK, DOW UP 2.6 PCT, S&P 500 UP 4.1 PCT, NASDAQ UP 5.3 PCT
16:05
FITCH AFFIRMS ITALY AT 'BBB+'; OUTLOOK STABLE
15:57
NET EURO SHORT POSITION LARGEST SINCE SEPT 2-CFTC, REUTERS
15:37
SPECULATORS PARE U.S. DOLLAR LONGS IN LATEST WEEK - CFTC AND REUTERS
14:49
BRENT CRUDE FUTURES SETTLE AT $86.13/BBL, DOWN 70 CENTS, 0.81 PCT
14:33
PERU'S CENTRAL BANK SELLS $95 MLN, SOL CURRENCY ENDS WEAKER
11:30
ITALY'S FTSE MIB UP 0.4 PCT
10:36
BRAZIL'S BENCHMARK BOVESPA STOCK INDEX RISES 4 PCT
10:30
UNITED STATES W/E ECRI WEEKLY INDEX DECREASE TO 131.9 VS PREV 134.4
10:28
PUTIN SAYS RUSSIA WILL WORK ON ATTRACTING INVESTMENT INTO ECONOMY
10:10
RUSSIAN PRESIDENT PUTIN SAYS UNITED STATES IS NOT THREAT TO RUSSIA
10:01
U.S. New Home Sales Inch Up 0.2% In September
09:49
BRAZIL'S BENCHMARK BOVESPA STOCK INDEX RISES 2 PCT
09:30
NASDAQ UP 6.99 POINTS, OR 0.16 PERCENT, AT 4,459.78 AFTER MARKET OPEN
09:30
S&P 500 UP 1.86 POINTS, OR 0.10 PERCENT, AT 1,952.68 AFTER MARKET OPEN
09:01
Belgium Oct Business Confidence -6.8 Vs. -7.2 In Sep, Consensus -7.9
09:00
MEXICO AUG IGAE ECON ACTIVITY MM DECREASE TO -0.17 % VS PREV 0.41 %
08:49
PUTIN BLAMES US, EU FOR THROWING UKRAINE INTO CHAOS
08:48
PM CAMERON SAYS SLOW GROWTH IN EUROPE POSES THREAT TO BRITISH ECONOMY
08:40
PUTIN SAYS OF EAST-WEST TENSIONS: "WE DID NOT START THIS"
08:22
PUTIN SAYS THE UNITED STATES' "UNILATERAL DIKTAT" ESCALATES CONFLICTS
07:59
U.S. Dollar Edges Down To 1.1205 Vs Canadian Dollar
07:32
INDIAN GOVT HAD NO OUTSTANDING LOANS FROM RBI IN OCT 17 WEEK - CBANK
06:30
POLISH C.BANKER: WE MAY CUT INTEREST RATES AGAIN
06:11
TRADERS: ZLOTY MAY FALL FURTHER AGAINST USD
05:59
BRAZIL OCT FGV CONSUMER CONF* DECREASE TO 101.5 VS PREV 103.0
05:51
05:48
TRADERS: THERE ARE BETS THE SINGLE CURRENCY WILL RISE
05:43
ANALYSTS: EURO MAY SEE FADING RESERVE DEMAND
05:39
WESTPAC: RBNZ IS LIKELY TO LENGTHEN RATES PAUSE PERIOD
05:39
ECONOMISTS: AUSSIE IS IN CONSOLIDATION MODE
05:38
TRADERS: KIWI ON TRACK TO END DOWN MORE THAN 1 PCT VS USD THIS WEEK
05:38
TRADERS: AUSSIE AND KIWI FALL AGAINST THE YEN, GREENBACK AND EURO
05:37
MARKET VIEW: AUSSIE & NZ DOLLAR STRUGGLE AS RISK AVERSION RETURNS
05:20
Italy Sep Hourly Wages Unchanged On Month
05:19
Italy Sep Hourly Wages Up 1.1% On Year
05:00
ITALY SEP WAGE INFLATION MM STAYS FLAT AT 0.0 % VS PREV 0.00 %
05:00
ITALY SEP WAGE INFLATION YY STAYS FLAT AT 1.1 % VS PREV 1.1 %
04:53
SOCIETE GENERALE CANCELS ITS LIMIT ORDER TO SHORT-TERM EUR/GBP LONG
04:51
Pound Rises Further To 2-day High Of 1.6070 Vs U.S. Dollar
04:49
Pound Climbs To 2-week High Of 173.75 Against Yen
04:37
Pound Rises To 1.6055 Vs U.S. Dollar After U.K. GDP Data
04:33
U.K. Aug Index Of Services Up 3.1% On Year
04:32
U.K. Q3 GDP Rises 3% On Year, Consensus 3%
04:31
STERLING EDGES UP TO DAY'S HIGH OF $1.6050 AFTER IN-LINE UK GDP DATA
04:31
U.K. Q3 GDP Up 0.7% On Quarter, Consensus 0.7%
04:17
Italy Aug Retail Sales Down 0.1% On Month
04:17
Italy Aug Retail Sales Down 3.1% On Year
04:01
HK’S HANG SENG INDEX CLOSES DOWN 0.1 PCT AT 23,302.20 POINTS
04:00
ITALY AUG RETAIL SALES SA MM STAYS FLAT AT -0.1 % VS PREV -0.10 %
04:00
ITALY AUG RETAIL SALES NSA YY DECREASE TO -3.1 % VS PREV -1.50 %
03:50
PATTERN TRAPPER PLACES LIMIT ORDER TO SHORT GBP/USD BELOW 1.6029
03:50
Euro Slides To 2-day Low Of 1.4181 Against Canadian Dollar
03:49
PATTERN TRAPPER PLACES LIMIT ORDER TO LONG USD/JPY ABOVE 107.25
03:05
Czech Oct Composite Indicator 8.8 Vs 8.4 In Sep
03:05
Czech Oct Business Confidence Index 11.5 Vs 12 In Sep
03:04
Czech Oct Consumer Confidence Index -2 Vs -5.8 In Sep
03:03
Austria Aug Production Index Down 3.7% On Year
03:01
ITALY'S FTSE MIB DOWN 0.3 PCT
03:01
Spain Sep Producer Prices -0.3% On Year Vs. -0.6% In August
03:00
BRITAIN'S FTSE 100 FALLS 0.1 PCT EARLY
03:00
FRANCE'S CAC 40 DOWN 0.4 PCT
03:00
EUROPE'S FTSEUROFIRST 300 DOWN 0.2 PCT
03:00
GERMANY'S DAX DOWN 0.5 PCT
03:00
TURKISH CENTRAL BANK OPENS 19 BILLION LIRA REPO AUCTION
02:05
Germany Nov GfK Consumer Confidence 8.5, Consensus 8: Reports
02:02
Finland Sep Retail Sales Flat On Year: Flash
02:01
GERMAN BUND FUTURES OPEN 14 TICKS HIGHER AT 150.4
02:01
RUSSIAN CENBANK CONDUCTS NO FOREX MARKET INTERVENTIONS ON OCT. 22
02:01
Finland Sep Producer Prices Up 0.2% On Month
02:01
Finland Sep Producer Prices Fall 0.3% On Year
02:00
SEOUL SHARES UNOFFICIALLY CLOSE DOWN 0.31 PERCENT
01:33
TAIWAN STOCKS END DOWN 0.97 PCT
01:32
UBS: CHINA’S PROPERTY DOWNTURN IS STILL THE MAIN DRAG ON ECONOMY
01:19
BOK CHIEF: S.KOREA’S GROWTH STILL NOT FIRM
01:01
Singapore Sep Industrial Output Falls 3.3% On Month, Consensus -1.5%
01:00
Singapore Sep Industrial Output Down 1.2% On Year, Consensus -0.4%
M5 M15 M30 H1 H4 D1 W1
EURUSD 1.2669 0.0000
GBPUSD 1.6089 0.0000
USDJPY 108.15 0.00
USDCHF 0.9518 +0.0001
USDCAD 1.1230 0.0000
Symbol Bid Ask
EURUSD 1.2669 1.2672
GBPUSD 1.6089 1.6092
USDJPY 108.15 108.18
USDCHF 0.9518 0.9521
USDCAD 1.1230 1.1233
EURJPY 137.04 137.07
EURCHF 1.2060 1.2065
EURAUD 1.4413 1.4420
GBPJPY 174.03 174.10
GBPCHF 1.5313 1.5320
SILVER 17.165 17.205
GOLD 1230.72 1231.32
Forexpedia
Many investors, including seasoned traders, are not that familiar with the bond market. They only invest in bonds because they either want to diversify their portfolio or to know more about its...