Belarus has chosen a favourable political and economic moment for denomination. This opinion was expressed by Vladimir Biryuk, Director of an investment company, on the ONT television channel, as reported by BELTA.
Belarus has chosen a favourable political and economic moment for denomination. This opinion was expressed by Vladimir Biryuk, Director of an investment company, on the ONT television channel, as reported by BELTA.
"Now is a convenient political moment, a convenient economic moment, when we have all calmed down, the crises have passed. The political situation is generally predictable," said the expert.
In turn, Vadim Iosub, Senior Analyst at Alpari company, noted: "We have seen a decrease in inflation throughout this year." He also emphasised that the monetary policy of the current leadership of the National Bank has allowed for the stabilisation of the national currency.
As reported, the denomination in Belarus will be carried out from July 1, 2016. The corresponding decree was signed on November 4, 2015. The document stipulates the denomination of the official monetary unit of Belarus and the replacement by December 31, 2016, of circulating banknotes of the 2000 design with banknotes and coins of the 2009 design at a ratio of 10,000 Belarusian rubles (Br) of the 2000 design to 1 Belarusian ruble (Br) of the 2009 design.
From July 1 to December 31, 2016, banknotes of the 2000 design and banknotes of the 2009 design will be in parallel circulation and will be mandatory for acceptance in all types of payments without restrictions at the aforementioned ratio. The exchange of banknotes will be carried out without restrictions and without charging a fee from January 1, 2017, to December 31, 2019, at the National Bank, banks and non-banking credit and financial institutions of Belarus, and from January 1, 2020, to December 31, 2021, at the National Bank.