Author Topic: Belarus: Currency Reform in 2013?  (Read 1989 times)

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Offline Bimat

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Belarus: Currency Reform in 2013?
« on: October 08, 2012, 05:46:32 PM »
New banknotes delivered to Minsk?

Ten tonnes of banknotes have recently been delivered from Europe to Minsk by planes.

“Ten tonnes of banknotes were delivered to Minsk by planes,” a source tells charter97.org. The cargo was transported by a Polish air company. “Besides, air companies in Minsk received a request for transporting additional lots of money from Frankfurt. There are several lots, each of 2 tons,” the source says.

The source is confident it was not foreign cash banks usually receive to support the Belarusian rubles rate. “Banks usually  deliver foreign cash from Vienna and Zurich. These planes continue to land every day,” the source says.

It should be reminded that top officials of the National Bank of Belarus made several statements stressing that re-denomination was possible and necessary. Nadzezhda Yermakova even said the approximate time for preparation for re-denomination – 2013.

Independent economists suppose re-denomination can be carried out only with the inflation rate not higher than 10%, but stopping solvents and thinners smuggling makes vain all attempts of the government to curb  inflation. In this situation the point in question is rather devaluation than re-denomination.

Source
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Offline ciscoins

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Re: Belarus: Currency Reform in 2013?
« Reply #1 on: October 09, 2012, 09:53:19 PM »
There was an article about this redenomination 5 months ago:

http://www.worldofcoins.eu/forum/index.php/topic,12068.msg110170.html#msg110170
Ivan
Moscow, Russia

Offline Bimat

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Belarus: Currency Reform in 2013?
« Reply #2 on: December 19, 2013, 05:36:15 AM »
Yermakova: We already printed new banknotes

The ruble redenomination is planned in Belarus.

Nadzezhda Yermakova, the chief of the Belarusian National Bank, said it to Zviazda newspaper, BelTA news agency reports.

“We plan a redenomination, but it's too early to speak about the date,” Nadzezhda Yermakova noted. The National Bank chief said the inflation rate of under 10% was needed to carry out redenomination, otherwise large denomination banknotes would appear again due to the price growth.

As the inflation rate is expected to be 11% the next year, it's too early to discuss the redenomination in 2014, Nadzezhda Yermakova says. “We have new banknotes, we already printed them. But it's too early to issue them,” the National Bank chief noted.

Lukashenka also said earlier that banknotes for the redenomination had been printed.

“Redenomination is not a problem. It's a technical issue. We have printed banknotes. They have been in warehouses for some years, but it is more important for us to have stability on the currency market,” he said at a press conference for Russian media in Minsk. “It's better to carry it [redenomination] out when the situation on the currency market becomes more stable.”

Source: Charter97
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Offline <k>

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Re: Belarus: Currency Reform in 2013?
« Reply #3 on: December 19, 2013, 01:56:40 PM »
Coins are not mentioned anywhere, only banknotes. This is in the wrong board.
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Offline chrisild

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Re: Belarus: Currency Reform in 2013?
« Reply #4 on: December 19, 2013, 02:43:09 PM »
Problem is, Belarus does not have or issue any coins for circulation. All they have is paper money (1 euro is about 13,000 rubles), plus surcharged collector coins. But the latter would be affected by such a change too, so it is safe to leave the topic here. :)

Christian

Offline <k>

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Re: Belarus: Currency Reform in 2013?
« Reply #5 on: December 19, 2013, 03:26:53 PM »
You are thereby putting non-circulating collector coins on a par with circulation coins, in a country that has never signalled any intention to issue circulation coins. Beware!
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Offline <k>

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Re: Belarus: Currency Reform in 2013?
« Reply #6 on: December 23, 2013, 03:53:59 PM »
Anyway, did you know that on 20 February 2012, Belarus modified its national flag, broadening the design along the hoist to occupy the full white bar?

I attach the 3 flags of Belarus since independence.
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