MINSK - Belarus has redenominated its national currency, the ruble, by a factor of 10,000 as of July.
The country will replace banknotes currently in circulation that were issued in 2000 with new banknotes and coins at a ratio of 10,000 to one.
The lowest current banknote denomination, 100 rubles, will therefore be replaced by the lowest denomination of the new money, 1 kopeck.
As of July 1, there will be seven banknote denominations put into circulation: 5, 10, 20, 50, 100, 200 and 500 rubles, and eight kopeck denominations: 1, 2, 5, 10, 20 and 50 kopecks, and 1 and 2 rubles.
Prices for goods and services will be recalculated according to the scale of the redenomination, as will wages, pensions, stipends, balances on bank accounts and the balance sheets of companies and institutions.
