Belarus chairperson discusses new denominations and currency revaluation

According to a Charter 97 article dated 16 December 2011, “I think that there will be no denomination [currency revaluation] next year. I cannot tell for sure,” stated Nadzeja Yermakova, the chairperson of the board of the National Bank of Belarus (NBB).

The bank is planning to issue a new 200,000-ruble (US$24) note, but when asked about larger denominations, including 500,000- and 1,000,000-ruble notes, Yermakova claimed that there are no such plans and said that if such high denominations were needed, it would be better to revalue the currency by removing several zeroes.

Even though they are worth less than a penny, Yermakova maintained that the 50- and 100-ruble banknotes are still needed, though she admited that the 10- and 20-ruble notes are “outdated.”

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