Belarus Banknotes: The Animal Rubles of 1992 and Two Redenominations
Few countries have put a squirrel, a running rabbit, a beaver, a pair of wolves, a lynx, an elk, a bear and an aurochs into wallets on the same day. Belarus did, on 25 May 1992, and the National Bank still lists every one of them. Within a decade the same currency reached a five million ruble note, and twice the denominations were reset.
Animal notes issued 25 May 1992 Eight animals, one coat of arms 2009 series printed in 2008, issued 2016 Seven current denominations
Last updated: September 2026
Belarus introduced its own money in May 1992, in denominations of 50 kopecks and 1, 3, 5, 10, 25, 50 and 100 rubles, each showing a native animal. A new series entered circulation on 1 January 2000, and the current 2009 series, printed in 2008 and held back for years, was put into circulation on 1 July 2016.
What money did Belarus use before its own?
Soviet and then Russian notes. The National Bank of the Republic of Belarus explains that after the Supreme Soviet of the Belarusian SSR passed a Declaration on State Sovereignty in July 1990, banknotes of the State Bank of the USSR circulated in the country for some time, followed by those issued by the Bank of Russia.
The national money arrived in stages. In accordance with a resolution of the government, the National Bank's own token money in 50 kopecks and 1, 3, 5, 10, 25, 50 and 100 ruble denominations was introduced into circulation in May 1992. From the second half of 1993 Belarus began using National Bank notes in cash circulation, under a resolution dated 25 July 1993 that withdrew Soviet treasury notes, State Bank of the USSR notes and Bank of Russia notes of the 1961 to 1992 series and exchanged them for National Bank notes.
The status question was settled in 1994. A resolution of the Board of the National Bank dated 18 May 1994 treated the Belarusian ruble as the country's sole legal tender, and a resolution of the Supreme Council dated 19 October 1994 confirmed it, which the bank describes as finishing the process by which the Belarusian ruble acquired the status of a national monetary unit and the National Bank the status of the single issuing centre (National Bank of the Republic of Belarus, Banknotes and Coins, via the Internet Archive). The neighbouring stories are in our Russia, Ukraine and Poland hubs.
What are the 1992 Belarus animal banknotes?
They are the first eight Belarusian notes, all put into circulation on 25 May 1992, each with a different native animal on one side and the coat of arms with the denomination in figures on the other. The National Bank still publishes the description of every one of them.
The bank's own wording, denomination by denomination, is a picture of the squirrel on the 50 copecks, the running rabbit on the 1 ruble, the beaver on the 3 rubles, the wolves on the 5 rubles, the lynxes on the 10 rubles, the elk on the 25 rubles, the bear on the 50 rubles and the aurochs on the 100 rubles (National Bank of the Republic of Belarus, 1 Ruble; 100 Rubles, both via the Internet Archive). The backs are identical in concept across the set, which is why the animals do all the identifying work.
Two more notes joined the family later that year and broke the pattern. A 200 ruble note showing the railway square and a 500 ruble note showing Victory Square were both put into circulation on 8 December 1992, the moment the series turns from wildlife to Minsk cityscapes. All ten of these notes were withdrawn from circulation on 1 January 2001. For the wider habit of putting fauna on money, see animals on banknotes.
The animals lasted seven months, the cityscapes took over, and the whole set was gone in eight years. The National Bank's pages give 25 May 1992 for all eight animal notes, 8 December 1992 for the two Minsk squares, and 1 January 2001 as the withdrawal date for every one of them. That short window is why complete animal sets in uncirculated condition are a realistic project but crisp singles of the higher values are not always easy.
How high did the 1992 denominations go?
To five million rubles. The National Bank's list of banknotes out of circulation for the 1992 to 2001 period runs from 50 copecks all the way up, with new top values appearing almost every year through the 1990s, and the pace of those additions is the clearest record of what was happening to the currency.
The bank's dates for the first year of each denomination read as a timeline in their own right: 20,000 rubles in 1994, 50,000 in 1995, 100,000 in 1996, 500,000 in 1998, and both 1,000,000 and 5,000,000 rubles in 1999 (National Bank of the Republic of Belarus, banknotes out of circulation 1992 to 2001, via the Internet Archive). Some values were re-issued in new designs along the way, so the list carries two separate entries for the 1,000 ruble note, from 1993 and 1998, and two for the 5,000, from 1994 and 1998.
Read against the eight animal notes of May 1992, that sequence tells the story without needing a single figure attached to it. A currency whose smallest note was 50 copecks in 1992 had a five million ruble note in circulation by 1999. Our page on every hyperinflation ranked sets that kind of denomination growth in context, and hyperinflation versus inflation explains where the line actually sits.
What happened to Belarusian notes in 2000?
A completely new series replaced the 1992 family. The National Bank's records show its 2000 series notes being put into circulation on 1 January 2000, starting again at 1 ruble, while the 1992 to 2001 family was withdrawn from circulation on 1 January 2001.
The design language changed as well as the numbers. The 2000 series dropped the animals and built its fronts on Belarusian architecture: the 10 ruble note of that series, put into circulation on 1 January 2000, shows the building of the National Library in Minsk on the front and the denomination in figures on the back, and it stayed in circulation until 1 March 2013 with an exchange window running to 31 March 2014 (National Bank of the Republic of Belarus, 10 Rubles 2000 series, via the Internet Archive).
That series then climbed again. The bank's own out of circulation listing for 2000 onwards records 100,000 ruble notes from 2005, 50,000 and 20,000 ruble notes re-issued from 2010 and 2011, and a 200,000 ruble note from 2012, which is why a second reset followed. Belarus therefore reset its denominations twice in sixteen years, at the start of 2000 and again in the middle of 2016, which puts it among the better documented entries in our list of currency redenominations.
What was the 2016 Belarus redenomination?
On 1 July 2016 the National Bank replaced the 2000 series with the 2009 series, at a rate of 10,000 Belarusian rubles of the 2000 series per 1 Belarusian ruble of the 2009 series. Seven banknote denominations and eight coin denominations entered circulation that day, and the coins were a first for the country.
The bank set the whole plan out in a press release dated 5 November 2015. The decision was taken by Edict of the President of the Republic of Belarus No. 450 dated 4 November 2015. The new line runs 5, 10, 20, 50, 100, 200 and 500 rubles in notes and 1, 2, 5, 10, 20 and 50 copecks plus 1 and 2 rubles in coins. With the chosen scale of 1 to 10,000, the outgoing lowest banknote of 100 rubles was replaced by the lowest new unit, 1 copeck (National Bank of the Republic of Belarus, press release on the redenomination, via the Internet Archive).
The strangest part is that the new money was already eight years old. The bank states that the currency units put into circulation in 2016 had been printed to its order as early as 2008, that the redenomination was then postponed because of the global economic crisis, and that the printed notes were transferred to the National Bank's Central Vault. As a result the 2009 series carries the facsimile signature of Petr P. Prokopovich, who had been Chairman of the Board when they were made. Trade press covered the changeover at the time (CoinWeek).
Belarus put a spelling mistake into circulation and said so itself. In the same press release the National Bank noted that the new fifty ruble note carries the inscription "пяцьдзесят", which is inconsistent with the Belarusian spelling rules set by Law No. 420-3 of 23 July 2008, and that the word should be spelled "пяцьдзясят" with a different vowel in the second syllable. The bank said the inconsistency would be removed when it placed further print orders, which makes the original 2016 printing a dated variety.
What is on the current Belarus banknotes?
One region per denomination, assigned in alphabetical order. The National Bank says the general concept of the 2009 series design meets the motto "Belarus is my country", and that each banknote is dedicated to one of the regions of Belarus or to the city of Minsk, with the regions matched to denominations alphabetically.
The allocation is 5 rubles to Brest region, 10 to Vitebsk region, 20 to Gomel region, 50 to Grodno region, 100 to Minsk region, 200 to Mogilev region and 500 to the city of Minsk. Each note pairs an architectural monument with a themed collage: the Tower of Kamenets, known as Belaya Vezha, with a collage on the first Slavic settlements on the 5; the church of the Savior and Transfiguration in Polotsk with a collage on enlightenment and printing on the 10; the Rumyantsev-Paskevich palace in Gomel with a collage on spirituality on the 20; the Castle of Mir with a collage on art on the 50; the Radziwills' castle at Nesvizh on the 100; the Mogilev Regional Art Museum on the 200; and the National Library of the Republic of Belarus with a collage on literature on the 500 (National Bank of the Republic of Belarus, 5 Rubles; 500 Rubles, both via the Internet Archive).
The sizes follow an unusually tidy rule. The bank gives 135 by 72 mm for the 5 rubles, then 139, 143, 147, 151, 155 and 159 mm for each step up to the 500, so every denomination is exactly 4 mm longer than the one below it and every note is 72 mm tall. Modified printings have followed, including a 50 ruble note put into circulation on 23 March 2020 (National Bank of the Republic of Belarus, 50 Rubles 2020, via the Internet Archive). See our banknote sizes chart for how other issuers step their formats, and banknote security features for the watermarks, threads and latent images the bank documents on each note.
Belarus banknote series at a glance
The table sets the three families side by side. Dates are the circulation dates published by the National Bank of the Republic of Belarus.
| Series | Denominations | Motifs | What changed |
|---|---|---|---|
| 1992 to 2001 | 50 copecks, 1, 3, 5, 10, 25, 50, 100 rubles from 25 May 1992; 200 and 500 from 8 December 1992; then 1,000, 5,000, 20,000, 50,000, 100,000, 500,000, 1,000,000 and 5,000,000 rubles through to 1999 | Squirrel, hare, beaver, wolves, lynxes, elk, bear and aurochs; then the railway square and Victory Square in Minsk; coat of arms and denomination on the reverses | Belarus's first national notes, introduced after Soviet and Russian notes had circulated. Withdrawn from circulation on 1 January 2001 |
| 2000 series | 1, 5, 10, 20, 50, 100, 500, 1,000, 5,000, 10,000, 20,000, 50,000, 100,000 and 200,000 rubles | Belarusian architecture, including the National Library in Minsk on the 10 rubles, with the denomination in figures on the reverse | Put into circulation from 1 January 2000, starting again at 1 ruble. Replaced by the 2009 series on 1 July 2016 |
| 2009 series | 5, 10, 20, 50, 100, 200 and 500 rubles, plus eight coin denominations | One region per denomination under the motto "Belarus is my country": Belaya Vezha, Polotsk, Gomel, Mir, Nesvizh, Mogilev and the National Library | Printed in 2008, held in the Central Vault, then put into circulation on 1 July 2016 at 10,000 of the 2000 series per 1 new ruble |
Series data from the National Bank of the Republic of Belarus, whose banknote pages give the circulation date, size, security features and design description for every note in and out of circulation.
Can old Belarusian rubles still be exchanged?
Not the 2000 series. The National Bank set out a five year exchange programme and a hard closing date when it announced the redenomination, and that date has passed. The 1992 family closed far earlier, having been withdrawn from circulation on 1 January 2001.
The 2016 timetable was published in advance and followed exactly. The 2000 series and the 2009 series circulated in parallel from 1 July to 31 December 2016, with both accepted without restriction in all kinds of payments and with businesses obliged to display two prices. From 1 January 2017 to 31 December 2021 the old units were exchanged in any sum without restriction and without commission, first at the National Bank, banks and non-bank financial institutions until the end of 2019, then only at the National Bank through 2020 and 2021.
After that the door shut. The bank stated that beginning from 1 January 2022 the currency units of the 2000 series would be deemed invalid, and trade press repeated that notice for collectors at the time (Numismatic News). Notes past an exchange deadline become collector material and nothing else, the pattern traced in our pages on what demonetization is and currencies that no longer exist.
How do you collect Belarus banknotes?
Start with the eight animals. It is the most attractive short set in post-Soviet paper money, every note shares a single issue date of 25 May 1992, and finishing it is a realistic weekend project rather than a decade of hunting, which is a rare combination in this part of the world.
From there, three routes open up. Adding the 200 and 500 ruble Minsk squares of 8 December 1992 completes the first year. Running the 1992 family upward through 20,000, 50,000, 100,000, 500,000, 1,000,000 and 5,000,000 rubles builds a denomination ladder that tells the whole 1990s story on a single album page. The 2009 series is the modern lane, seven notes, one design programme, and still findable in uncirculated condition.
Learn the grading ladder before you spend. Grades run from Uncirculated down through AU, XF, VF, F, VG and G, and the certified market uses a 1 to 70 scale: see our banknote grading guide and graded versus raw banknotes. Catalogue numbers are explained in the guide to Pick numbers, what determines banknote value covers the rest, and the small 1992 notes are thin and easily creased, so read how to store banknotes first.
Buy from an established dealer that authenticates every note, documents where it came from and stands behind it in writing. Browse the banknotes by country directory to see what has been sourced, and read how to buy world banknotes safely and how to collect world banknotes. The banknote glossary defines the terms you will meet.
Planet Banknote is a family-owned dealership in Sarasota, Florida, founded in 2021. Every note is sourced direct from mints, central banks, and authorized distributors, inspected through our Planet Banknote Verified process, and ships with a free Certificate of Authenticity. US orders ship free via USPS Priority, and every order includes a free bonus gift.
Frequently asked questions
What animals are on the 1992 Belarus banknotes?
The National Bank of the Republic of Belarus describes a squirrel on the 50 copecks, a running rabbit on the 1 ruble, a beaver on the 3 rubles, wolves on the 5, lynxes on the 10, an elk on the 25, a bear on the 50 and an aurochs on the 100. All eight were put into circulation on 25 May 1992 with the coat of arms on the reverse.
When did Belarus issue its first banknotes?
On 25 May 1992. Soviet and then Russian notes had circulated after the Declaration on State Sovereignty of July 1990, and the National Bank's own money in 50 kopecks and 1, 3, 5, 10, 25, 50 and 100 ruble denominations was introduced in May 1992 under a government resolution. A 200 and a 500 ruble note followed on 8 December 1992.
What was the 2016 Belarus redenomination?
On 1 July 2016 the National Bank replaced its 2000 series with the 2009 series, at 10,000 Belarusian rubles of the 2000 series per 1 Belarusian ruble of the 2009 series. Seven notes of 5, 10, 20, 50, 100, 200 and 500 rubles entered circulation, along with eight coin denominations, under Edict of the President No. 450 dated 4 November 2015.
Why are Belarus banknotes dated 2009 if they were issued in 2016?
Because they were printed early. The National Bank says the currency units put into circulation in 2016 had been printed to its order as early as 2008, that the redenomination was then postponed because of the global economic crisis, and that the printed notes were moved to the National Bank's Central Vault. They therefore carry the facsimile signature of the chairman of the time, Petr P. Prokopovich.
What is on the current Belarus banknotes?
Each denomination is dedicated to a region under the motto "Belarus is my country", matched alphabetically: 5 rubles to Brest, 10 to Vitebsk, 20 to Gomel, 50 to Grodno, 100 to Minsk region, 200 to Mogilev and 500 to the city of Minsk. Subjects include Belaya Vezha, the Castle of Mir, the Radziwills' castle at Nesvizh and the National Library.
Can you still exchange old Belarusian rubles?
No. The 1992 family was withdrawn from circulation on 1 January 2001. For the 2000 series the National Bank ran an exchange programme from 1 January 2017 to 31 December 2021, at its own counters only during the last two years, and stated that from 1 January 2022 the 2000 series currency units would be deemed invalid.
Are Belarus banknotes worth collecting?
They are, and the animal notes of 1992 are one of the most appealing short sets in post-Soviet paper money: eight denominations, eight species, one issue date. The National Bank publishes the circulation date, size, design description and security features for every note it has issued, which makes attribution unusually straightforward.