MOSCOW (Sputnik) — Minsk on Friday redenominated its national currency, slashing four zeros from the Belarusian ruble, the National Bank of the Republic of Belarus said in a statement.
"Starting from July 1, 2016, the Republic of Belarus is conducting the redenomination of its official currency unit — the Belarusian ruble. The banknotes from the 2000 series currently in circulation will be gradually replaced by banknotes and coins from the 2009 series according to a ratio of 10,000:1," the statement published on Thursday reads.
According to the statement, the country's authorities have taken all the necessary measures and adopted all the required regulations to provide credit and financial institutions with the new currency.
Due to Friday's redenomination, Belarus will start using coins for the first time in its history, as up until now only paper currency was in circulation.