Belarusian Ruble (BYN)

The Belarusian ruble (BYN) is the official currency of Belarus. It replaced the previous currency, the Belarusian ruble (BYR), in 2016. The National Bank of the Republic of Belarus is responsible for issuing and regulating the currency.

Here are some key details about the Belarusian ruble:

1. Denominations: The Belarusian ruble is divided into 100 kopeks. The currency is available in both banknotes and coins.

2. Banknotes: Banknotes come in denominations of 5, 10, 20, 50, 100, 200, and 500 rubles. Each denomination has a different color and features prominent figures from Belarusian history, cultural symbols, and landmarks.

3. Coins: Coins are available in denominations of 1, 2, 5, 10, 20, and 50 kopeks, as well as 1 and 2 rubles. The coins feature various designs, including national symbols and historical figures.

4. Exchange Rate: The exchange rate of the Belarusian ruble fluctuates against other major currencies, such as the US dollar and the euro. The exchange rate is determined by market forces but is also influenced by the policies of the National Bank of Belarus.

5. Usage: The Belarusian ruble is the sole legal tender in Belarus. It is used for all transactions within the country, including purchases, payments, and salaries. The use of foreign currencies in daily transactions is generally not accepted.

6. Currency Control: Belarus has strict currency control regulations. Citizens and residents must declare any foreign currency they possess upon entering or leaving the country. There are limitations on the amount of foreign currency that can be exchanged or taken out of the country.

7. Exchange Facilities: Exchange facilities are available in banks, currency exchange offices, and some hotels. ATMs are also widely available throughout the country, allowing for cash withdrawals in Belarusian rubles.

8. International Recognition: The Belarusian ruble is not widely recognized or accepted outside of Belarus. It is not freely convertible on international currency markets, and its exchangeability with other currencies can be limited.

9. Inflation: Belarus has experienced periods of high inflation in the past, which has affected the value of the Belarusian ruble. The National Bank of Belarus implements monetary policies to manage inflation and stabilize the currency.

10. Economic Impact: The value of the Belarusian ruble is influenced by various factors, including economic conditions, government policies, and international trade. Changes in these factors can impact the exchange rate and purchasing power of the currency.

In summary, the Belarusian ruble (BYN) is the official currency of Belarus. It is used for all transactions within the country and is available in both banknotes and coins. The exchange rate of the Belarusian ruble fluctuates against major currencies, and its international recognition and convertibility are limited. The National Bank of Belarus regulates the currency and implements policies to manage inflation and stabilize its value.