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Monday, October 24, 2016

After the third denomination in Belarus remained billionaires

On Friday, the Minsk got rid of four zeros on the banknotes, but, although the country practically didn’t remain billionaires, people do not lose heart. Belarus entered the top three countries, which are more often carried out denomination: 1st place — Brazil, five denominations-2nd — Zimbabwe, three, as well as in Belarus, but in recent times as much as 12 zeros.

50 thousand Belarusian rubles became 5 rubles. Photo: instagram/bymaryia.

The order of the denominations was signed by Alexander Lukashenko in November 2015. Now treatment included seven types of banknotes (5, 10, 20, 50, 100, 200 and 500 rubles, which resemble euros) and eight coins (1, 2, 5, 10, 20 and 50 cents and 1 and 2 rubles). Drawings on banknotes dedicated to the Belarusian capital and regions of the country.

On Thursday cooked sausage in Minsk can be bought for 40-50 thousand Belarusian rubles, 10 thousand for milk, bread for 4-7 thousand Now it can be purchased for 40, 10 and 4 rubles respectively. However, salaries have been the same metamorphosis. According to official data, the denominations in average Belarusians received 7 million Belarusian rubles, but now their income fell to 700 rubles. As a joke the locals of July 1, they completed the action “marry a millionaire”. “We are very upset that we have ceased to be millionaires… still a rich Man is not very profitable,” — says the correspondent of “MK” a resident of Grodno Vladimir.

Despite the fact that “old” rubles will be operational before the end of 2016, and to exchange them for “new” will be up to 2021, people began to line up to exchange points a night, but their contents quickly ended, and the morning crowd had moved to the banks. As they say eyewitnesses, the cashiers are hardly shared borne by the customers amounts to 10 thousand, then, with shaking hands, to give them new paper and iron roundels. It was especially difficult with counting things, which did not exist before. However, many Belarusians do not understand why a denomination so stirred the people. “So what, we cut off four zeros? Still, inflation will eat”, they said. And despite the fact that the Belarusian authorities say that the collapse of the ruble and double-digit inflation is about to be left behind, fears of ordinary people are not groundless.

Since independence this is the third denomination in Belarus in 1994, he cut off one zero, and in 2000 — three zeros. Negative dynamics of everything else is reinforced by the fact that the Belarusian ruble, along with the Iranian Rial, Somali shilling and the Vietnamese Dong is considered to be one of the weakest currencies against the dollar.

According to associate Professor of the Department of Economics and Finance, faculty of economic and social Sciences of Ranepa Alesana Lisanova, a positive economic effect carried out denomination in Belarus will not trigger. “It is rather a psychological factor that will have a direct impact on inflation in Belarus in 2016, it promises to be 17-18%”.

Help “MK”


1922-1924 years

Civil war and war communism had led to hyperinflation. The real value of 100 thousand sousaku equal to the value of one of the pre-revolutionary penny. In circulation were the Royal credit cards, nickels, kerenki, Soviet notes, numerous substitutes and local issues. The first denomination occurred in November 1921. Uncirculated banknotes were exchanged for new ones at a ratio of 10 000:1.

The denomination helped to unify the currency, but did not strengthen the sovznak. It was decided to restore the gold backing of money. The state Bank was given the right to issue banknotes. In the first appeal in November 1922, received banknotes are in denominations of 5 and 10 ducats. Bills 1, 3 and 25 coins was put into circulation by the summer of 1923. Soviet chervonets was quoted on the stock exchanges of Austria, Turkey, Italy, China, Estonia, Latvia, Lithuania.


When you are clearing salary remained unchanged. On Bank deposits amounts to 3 thousand rubles exchange one to one, on deposits of 3-10 thousand were produced reduction savings by one-third, on deposits in excess of $ 10 thousand was withdrawn half the amount. Those who kept money at home, the exchange received one new ruble for ten old.

On the one hand, the currency reform of 1947 were confiscatory, many savings were clearly criminal in nature. Along with this, ordinary citizens mostly welcomed this reform. After all, while it abolished the rationing system of supply of food and industrial goods. After the cancellation of cards when the wages of urban population in 500-1000 rubles bread cost 3-4,4 rubles, buckwheat — 12 rubles, sugar — 15 roubles, butter — 64 rubles, sunflower — 30 roubles, coffee — 75 rubles, milk — 3-4 roubles, a dozen eggs — 12-16 rubles, beer — 7 roubles, vodka — 60 rubles.


Banknotes were exchanged without restrictions in the ratio of 10:1. Still not declassified documents related to this currency reform. According to the official version, it was conducted “in order to facilitate the circulation of money and increasing the value of money”. Among the reasons for the devaluation is called the growth of Soviet exports of oil, of economic difficulties associated with the arms race and the implementation of space programs, the assistance to friendly countries, confrontation with the West. The dollar, amounting before the reform, 1:4, has been changed 10 times as salaries, pensions, deposits, but only 4.44 times. For “green” after the reform demanded 90 cents.


The reform, named after Pavlov, in honor of Prime Minister of the USSR Valentine Pavlov was held for three days: citizens of the USSR could exchange 50 – and 100‑ruble banknotes for the new. Cash can be exchanged only 1000. The state-owned banks from the Deposit, you can get 500 rubles new. Then Pavlov has declared that currency reform will not. This measure was to freeze the unearned income of speculators, corrupt officials and shady business. In April raised prices across the country. The state said that on frozen deposits accrued more than 40%, but these funds were not all — who, unfortunately, passed away, others had to wait a few years, which has led to the devaluation of their deposits.


Because of the increased inflation in 1993 was carried out a new reform. Citizens of Russia could exchange amounts up to 100 thousand rubles. Originally established in the amount of 35-70 thousand rubles (in the passport is stamped). The reform was carried out in July, during the holiday season, when many were away from the place of residence. As a result, many do not have time to exchange savings and the money disappeared.


4 August 1997, Boris Yeltsin signed a decree according to which from January 1, 1998: 1 new rouble is equal to 1 thousand old rubles. Soon after the denomination, the government announced a default on domestic obligations and the ruble plummeted against other currencies. During 1998 parallel addressed old and new money, and prices mentioned in both the old and new scale.

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