Lukashenko signed a decree on holding the currency denomination from 1 July 2016

MINSK, 4 November. /Corr. Larisa Klyuchnikova/. Belarusian President Alexander Lukashenko on Wednesday signed a decree on the denomination of the official monetary unit of the country. This was reported by the press service of the head of state.

“The document stipulates to conduct from 1 July 2016 the official denomination of the monetary unit of the Republic of Belarus and to be replaced by 31 December 2016 circulating banknotes of the sample of 2000 in the form of banknotes for banknotes of the sample of 2009 in the form of banknotes and coins in the ratio 10 thousand in monetary signs of a sample of 2000 to 1 in Belarusian ruble banknotes of the sample of 2009”, – reported in a press-service.

As noted in the National Bank of Belarus, “the process of a denomination is of a technical nature and will not affect the purchasing power of the Belarusian ruble, the national currency exchange rate against foreign currencies, as well as actual inflation”.

So, the prices of goods and services from 1 July next year will be recalculated based on the selected denomination scale – 1:10 000. “In other words, if the denomination of any of the goods cost, for example, 100 000 rubles, then after the denomination of its price will be 10 rubles, – noted in the NBU. – That the buyers were easier to adapt to such changes, at the time of dual circulation of old and new banknotes, i.e. in the period from 1 July to 31 December 2016, all businesses will be required to specify two prices – old and new”. On a similar principle will be recalculated salaries, pensions, scholarships, cash balances in Bank accounts, the balances of enterprises and institutions.

In Netbuke reported that the preparations for the denomination took a sufficiently long period. So, the new banknotes that will be put into circulation from 1 July 2016, have been made of the National Bank in 2008. “However, due to the global economic crisis and, as a consequence, the deterioration of the economic situation in our country, the holding of denominations was postponed, and made money is transferred to the Central vault of the National Bank”, – said the regulator.