Government may slice zeroes off national currency next year

The issue on the Belarusian rouble redenomination might be considered in 2013, Nadzeya Yermakova, Head of the National Bank of Belarus said during her visit to a kitchenware plant in Slutsk, Minsk region.

Yermakova told its workers about the financial situation in the country, building and student loans, the use of Belarusian plastic cards for payments abroad, etc.

The Head of the National Bank answered the questions of the plant’s working staff. She noted that the adoption of the Russian ruble by Belarus is not being considered, and said that as she is for protecting sovereignty she personally opposed its circulation in our country.

Nadzeya Yermakova said that it is not until 2013 when the conditions working for the consideration of the conceivable denomination might emerge in the republic.

In March, 2012 the official stressed that the Belarusian economy must fully recover from last year`s crisis before the government could carry out a redenomination.

There have been two currency redenominations in the history of independent Belarus, in August 1994 and January 2000. In 2000, the National Bank sliced three zeroes off the Belarusian rouble.

On March 2012, the note of denomination equal to 200,000 Belarusian roubles (appr. 25$) was put into circulation on March 12, 2012.


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