BYR - Belarusian Ruble (pre-2016)

History of the Belarusian Ruble BYR 

The Belarusian Ruble (pre-2016) played a significant role in the monetary history of Belarus, reflecting the challenges the country faced in its economic development and financial stability. 

In 1992, the first Ruble was issued with the ISO 4217 code BYB, replacing the Soviet Ruble at a rate of 1 BYB for every 10 Soviet Rubles. 

However, the Soviet Ruble continued to circulate alongside the BYB for about two years before it became the official currency. In 2000, the second Ruble, with the ISO code BYR, was introduced, replacing the first Ruble at a rate of 1 BYR for every 1,000 BYB.

Belarusian Ruble BYR denominations

The BYR was issued in banknotes with the following denominations: 10, 20, 50, 100, 500, 1,000, 5,000, 10,000, 20,000, 50,000, and 100,000 Rubles. These banknotes were introduced to meet the daily transaction needs of the Belarusian people as the economy was transitioning following the dissolution of the Soviet Union.

The current exchange rate of the Belarusian Ruble (pre-2016)

The current exchange rate of the Belarusian Ruble (BYR) is very low compared to the US dollar (USD). Specifically, 1 BYR is equivalent to approximately 0.00003058 USD, meaning 1 USD equals about 32,700.5 BYR.

It is important to note that the BYR is no longer in circulation, as it was replaced by the new Belarusian Ruble (BYN) in July 2016.

The transition from the BYR to the new Belarusian Ruble (BYN) was aimed at improving the economic situation and controlling inflation, indicating that Belarus faced economic challenges before 2016.