Currency in Belarus
The Belarusian ruble is the currency of Belarus. Its ISO code is BYR, which is abbreviated as Br. The symbol for the Belarusian ruble is BR.
History of the Belarusian currency
The Belarusian ruble emerged from the old ruble in 2000. After the collapse of the Soviet monetary system in 1992, the latter emerged from the Soviet ruble in 1993. With the takeover of the Belarusian National Bank in 1996 by the government of Aljaksandar Lukashenka, a second currency crisis began after 1992. The new head of government controlled the previously independent National Bank. Price formation on the national currency market and currency trading were restricted. The black market flourished with high exchange rates.
Due to the high financial outlay, the government printed more and more banknotes until the money in circulation was 500 times the national annual income. The indebtedness to banks, which increased fifteen-fold within four years, also proved to be inflationary. As a result, the old ruble became worthless for international business. In the end, in 1999 the highest banknote was worth five million rubles.
For stabilization purposes, the Belarusian ruble was introduced in the ratio of 1: 1000 in 2000. Since 1995, Russia and Belarus have been converging on a common currency. The Russian ruble was to be introduced in 2003 and replaced by an international currency in 2007. To date, however, no agreement has been reached between the two countries.
Another currency crisis has been looming since 2010. Rumors that the country was on the verge of bankruptcy prompted the residents to invest heavily in foreign currency, resulting in a shortage of foreign currency. To stop the crisis, the government planned, among other things, credit negotiations with partners in the Eurasian Economic Community in 2011. These failed, as did requests for support from neighboring countries because the government stuck to a state-controlled economy.
Despite the approval of payment transactions in foreign currencies and subsequent support from the Eurasian Economic Community amounting to three billion US dollars, inflation in Belarus could not be stopped. The value of the ruble continued to decline, in 2011 it cost one US dollar 8680 BR. In 2012, the Belarusian bank issued the BR 200,000 note, the equivalent of which is € 19.
Exchange into Belarusian rubles
A change from euros to Belarusian rubles is generally not possible in Germany. An exchange can only be carried out in banks and specially set up exchange offices in Belarus. Only absolutely undamaged, freshly printed euro banknotes will be accepted. We strongly advise against an unofficial swap.
The current value of the Belarusian ruble can be determined using a currency converter. Information is given here about both the current exchange rate and the value of a certain amount in euros.
