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10 Nov 2015

UK company to print new bank notes for Belarus

MINSK, 10 November (BelTA) – A UK company will print new bank notes for Belarus, BelTA learned from Dmitry Lapko, Deputy Chairman of the Board of the National Bank of the Republic of Belarus, on 10 November.

According to the source, a UK company will print new bank notes while coins will be made by the Lithuanian Mint and the Slovakian company Mint of Mincovna Kremnica.

Asked why these companies have been chosen to make new denominations of the Belarusian ruble, Dmitry Lapko noted: “It was handled via a tender. The tender was not public, this is why it is everything I can say about it.”

The decision to redenominate the Belarusian ruble as from 1 July 2016 is laid down by Belarus president decree No. 450 of 4 November 2015. As part of the redenomination process the existing banknotes, which are dated by 2000, will be replaced with bank notes and coins dated by 2009 at a ratio of 10,000 to 1.

The new money that will be released as from 1 July 2016 was made back in 2008. However, back then due to the global economic crisis and hence the worsening economic situation in the country the redenomination was postponed, with the new money stored in the central depository of the National Bank of the Republic of Belarus.

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