A practical currency and money guide to travel, living and doing business in Belarus and the BYR (BYR).
What's in this Belarus currency guide:
The official currency of Belarus (country code: BY) is the BYR, with symbol p. and currency code BYR.
The Belarusian ruble (BYR) is the official currency of Belarus. Here are a few things you might want to know about the BYR:
The BYR has been the official currency of Belarus since 1992, when it replaced the Soviet ruble.
The BYR is pegged to the Euro at a rate of about BYR 2 per EUR.
The Central Bank of Belarus is responsible for issuing and regulating the BYR.
The BYR is not a widely used or traded currency outside of Belarus, and it can be difficult to exchange it for other currencies in some parts of the world.
Inflation has been a significant issue in Belarus, and the value of the BYR has declined significantly over the years. As a result, the government has periodically issued new currency with higher face values to try to combat inflation.
The BYR is divided into 100 kopeks. Coins are available in denominations of 1, 5, 10, 20, and 50 kopeks, as well as 1, 2, and 5 rubles. Banknotes are available in denominations of 1, 5, 10, 20, 50, 100, and 500 rubles.
The Belarusian Ruble (BYN) is the local currency in Belarus. Sterling isn't widely accepted for exchange into BYN so it's wise to carry US dollars or Euro. its not possible to change BYN to any other currency outside of Belarus so do so before you leave the country. The airport is always a convenient place to do this. ATMs are widespread and credit cards can also be USD to withdraw cash, usually BYN, occasionally US dollars will also be available. NB: In 2016, the New Belarusian Ruble (BYN) replaced the old Belarusian Ruble (BYR) at a ratio of 1:10,000.
Here we list some key points for expats and businesses to consider when managing financial dealings in Belarus:
Understand BYR currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the BYR exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local BYR bank account: A local BYR bank account can make it easier for you to manage your finances and pay bills while you are in Belarus. It may also be more convenient to use a local BYR bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Belarus. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Belarus. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Belarus, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
The exchange rate of BYR (BYR), or the amount of BYR that can be exchanged for a foreign currency, can fluctuate rapidly based on a number of factors, including economic conditions, interest rates, and political events. Below you can check the latest USD/BYR rate plus recent trend, chart, and historic rates.
28 May 2013
31 May 2003
The below comparison table makes it easy to find the best exchange rates and lowest fees when you want to make an International Money Transfer to Belarus or planning a trip or maybe living there, so will need to exchange and spend BYR.
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It is important to note that the exchange rate of the BYR can change rapidly and that past performance is not necessarily indicative of future performance. It is advisable to carefully consider the risks and factors that may affect BYR exchange rates before making any financial decisions.