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Belarus' new currency debuts today
Posted on 7/1/16 at 5:55 am
Posted on 7/1/16 at 5:55 am
Any ripples to be expected?
BYN is replacing BYR, they're re-valuing their ruble 10,000 BYR = 1 BYN now.
The exchange rate was pretty favorable for the USD there. I have yet to see much out there online recently on this. They're hoping this will slow inflation there as it's been around 10% give or take a few for awhile.
BYN is replacing BYR, they're re-valuing their ruble 10,000 BYR = 1 BYN now.
The exchange rate was pretty favorable for the USD there. I have yet to see much out there online recently on this. They're hoping this will slow inflation there as it's been around 10% give or take a few for awhile.
2
Posted on 7/1/16 at 6:53 am to CtotheVrzrbck
Can't contribute except that Belarus is a wild/bizarre experience.
Words can't explain
Words can't explain
Posted on 7/1/16 at 8:27 am to CtotheVrzrbck
quote:History has shown, especially in former Soviet Union countries, that the name of the currency has no effect on future inflation. It's just ink on paper spread around differently.
Belarus' new currency debuts today
Any ripples to be expected?
I was working in Moscow when the "new" ruble was introduced in the 1990's. All the government did is knock 3 zeros off the currency. A 10,000 ruble note became a 10 ruble note.
Inflation remained the same afterwards.
Posted on 7/1/16 at 11:48 am to LSURussian
that's pretty much what I've read. 4 zeros are coming off today. This is the 3rd revaluation of their Ruble since Lukashenko took power.
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