Bank notes from Belarus
The ruble, Belarusian is the currency of Belarus. It is divided into 100 kapeek (капеек, singular: kapeyka). First ruble, 1992–2000 From the collapse of the Soviet Union until May 1992, the Soviet ruble circulated Belarus. New Russian banknotes also circulated in Belarus but they were replaced by notes issued by the National Bank of the Republic of Belarus in May 1992.[1] The first post-Soviet Belarusian ruble was assigned the ISO code BYB and replaced the Soviet currency at the rate of 1 Belarusian ruble = 10 Soviet rublei. It took about two years before the ruble became the official currency of the country. From the beginning of his presidency, Alexander Lukashenko began to suggest the idea of integration with Russian Federation and to undertake steps in this direction. From the beginning, there was also an idea of introducing a united currency for the Union of Russia and Belarus. Art. 13 of the 1999 "Treaty of Creation of the Union State of Russia and Belarus" foresaw a unified currency. Discussions about the Union currency has continued past the 2005 implementation goal set by both nations.[2] Starting in 2008, the Central Bank of the Republic of Belarus announced that the ruble will be tied to the United States dollar instead of the Russian ruble.[3] "Stanislav Bogdankevich, a former bank chairman, called the decision political, saying it was tied to Belarus' open displeasure at Russia's decision to hike oil and gas export prices to Belarus earlier this year. Belarus' economy is largely Soviet-style, centrally controlled and has been heavily reliant on cheap energy supplies from Russia".
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