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Opinions & Interviews

5 Jul 2016

Belarusian banking system thanked for successful redenomination campaign

Belarusian banking system thanked for successful redenomination campaign

MINSK, 5 July (BelTA) - Chairman of the Board of the National Bank Pavel Kallaur thanked the banking system for the successful redenomination campaign during a meeting with head of the EU Delegation in Belarus Andrea Wiktorin, BelTA has learned.

“I would like to take this opportunity and sincerely thank those who work in the Belarusian banks and also their parent banks for a good professional job. This period of preparation and conduct of the redenomination was very difficult and at the same time successful,” Pavel Kallaur said.

Belarusian banking system thanked for successful redenomination campaignPavel Kallaur noted that in preparation for the redenomination the Belarusian banks carefully studied the experience of a number of countries, including European states, that went through a similar process. “Our banks are constantly improving their technologies, and this is also based on the experience of their parent banks, in particular, a number of European banks,” he noted.

Belarusian banking system thanked for successful redenomination campaignHead of the EU Delegation in Belarus Andrea Wiktorin noted that she already saw the new Belarusian banknotes. “I have them in my pocket. The national currency has shed several zeros, and I think that the Europeans, who visit your country, will appreciate this as counting has become much easier,” she said.

Belarusian banking system thanked for successful redenomination campaignThe head of the EU Delegation also noted that the banknotes of the 2009 series depict the architectural and cultural monuments of Belarus. “This is good. On the one hand you have made your currency easier to understand for foreigners, and on the other hand, you popularize your cultural architectural heritage. The banknotes are now similar to the European currency in size,” she said.

Belarusian banking system thanked for successful redenomination campaignThe Belarusian official currency was redenominated on 1 July in accordance with Decree No. 450 “Concerning the redenomination of the official currency of the Republic of Belarus”. All banknotes of the so-called 2000 series are exchanged for banknotes and coins of the 2009 series at a rate of 10,000:1.

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