Belarus will redominate its currency from July 1, 2016, the press release of the president’s office said on Wednesday.
Belarusian President Alexander Lukashenko signed a decree that stipulates rouble, the national currency of Belarus, will be redenominated on July 1, 2016.
All banknotes designed in 2000 will be replaced by banknotes and coins designed in 2009 at a ratio of 10,000 Belarussian roubles to 1 roubles, the decree says.
From July 1, 2016 to Dec. 31, 2016, monetary units of the 2000 design and monetary units of the 2009 design will be used simultaneously and will be accepted in kinds of payments without restriction in the abovementioned ratio.
The Belarusian central bank said that the process of a denomination is of a technical nature and will not affect the purchasing power of the Belarusian ruble and inflation in the country.
It will be the third denomination in the history of independent Belarus.