Chairman of the National Bank of Belarus Petr Prokopovich not exclude the possibility of the Belarusian ruble denomination. "I believe that denomination is possible in our country, but it's hard to presume the exact date. It depends on many factors. Another two or three years are likely to precede denomination," the head of the National Bank said, noting that "the time for denomination might have come."
«But high inflation is one of the characteristics of a transition economy. The Belarusian money has accumulated some «extra» zeros over the years,» Petr Prokopovich said.
According to «Respublika«, the head of the National Bank says, denomination needs time to prepare and issue a presidential decree, as well as to create a legal framework and so on. «It takes at least six months to get ready for denomination. So denomination in 20 days is impossible either theoretically, or in practice,» he said.
The reduction of the ruble nominal value in ten times was first held on August 20, 1994 followed by the second time on January 1, 2000 by 1000. There were issued 1, 5,10, 20, 50, 100, 500, 1000, 5000 ruble notes then.
