Is the National Bank of Belarus preparing denomination?
- 8.11.2010, 8:29
Bank cashiers are complaining that one is limiting the turnover of banknotes of 10 and 20 Rubles.
Though a ten-ruble note is a legal note of the National Bank, the majority of Belarusians do not perceive it as valuable money, as one can’t buy anything for it. But, it seems, that small notes are becoming deficit – capital banks were faced with such problem.
An employee of one of the divisions of “Belarusbank” situated in Masherov Avenue in Minsk told about the similar situation to “Nasha Niva”. “From time to time every bank division orders bank notes in the main office. But there was no reaction for our requests to bring us bank notes of 10 and 20 Rubles during the last two months. Other money is brought without red tape, and these ones for some reason – not, without any explanations”, - he says.
Journalists asked the press service of “Belarusbank” to comment the situation. “If the problem is in the fact that the old bank notes are getting over, and there are no new ones – it is a question to the National Bank. We have only one issuing bank by the way”, - a spokesman of the organization stated.
After visiting a number of bank divisions in the center of Minsk it turned out, that this problem touches not only “Belarusbank”. Some cashiers refused to give away a “commercial secret”, but some confessed – deliveries of small banknotes actually stopped two months ago. Employees of “Moscow-Minsk” Bank”, in particular, confirmed such information.
Disappearance of small bank notes may be explained as a sign of denomination. If it will become evident, that shops cannot give change, people will ask to lop off a useless zero or two.
Denomination, if it takes place, is a usual technical phenomenon which doesn’t have its pluses and minuses for the population. Indeed, the consciousness of elderly people keeps memories about extortionate reforms of the Soviet time. The last case of violent denomination took place in North Korea, when people were allowed to exchange only a certain sum of money the rest was taken away in favor of the state.