Money of Belarus: local currency, descriptions

If you have never been to Belarus and think that potatoes are the only thing we have, then you immediately need to come to us and dispel this myth. For traveling, it is important not only to want to visit the country, but also to be aware of its currency. Therefore, we will tell you everything a foreigner needs to know about the Belarusian ruble and share full information about the national currency in the Republic of Belarus.

National currency of Belarus

The national currency of Belarus is the Belarusian ruble. It is not freely convertible, so you can't buy it until you arrive in Belarus.

In 2016, there was a denomination and the international currency designation was changed from BYR to BYN. Today, banknotes of non-denominated money can only be exchanged for a new type of money at the National Bank of the Republic of Belarus.

Modern money of the Republic of Belarus

After the denomination not only the international designation of the Belarusian ruble has changed, but also the format of money changed. Previously, the calculation was in hundreds, thousands and millions, but after 2016, we started counting in rubles, hundreds and thousands. The largest banknote is 500 Belarusian rubles, while the smallest - a coin of 1 penny.

Photo by politring.com

Which currency to take with

Many tourists say that in our country you can pay with Russian rubles, dollars and even euros. However, one can officially pay only in Belarusian rubles. If you want to pay your bill or groceries in a store in dollars, most establishments will refuse you, while the shops will not accept foreign currency. Therefore, in this case it is better not to take any chances and buy the national currency of the country from the bank.  To exchange you will not be suitable for any currency, so it is best to bring dollars or euros. You can also exchange the Russian ruble, UAH and zloty into Belarusian currency at banks.

Where to exchange currency

Currency exchange in our country is allowed only in banks, bank branches, as well as branches located in hotels, casinos and shopping centers.

Upon entry

When you arrive in the country, you can change currency at the airport or train station. By the way, at the station exchange offices work around the clock, but the rate will be higher there.

When you leave the country

When leaving the country, you can change currency in the same places as when you enter. That is, if you are going by plane, you can exchange money at the airport, and if you are going by train, at the station.

At the border

If you travel by train, you can exchange money for any of the stations after crossing the border; the main thing is that there are exchange offices. There are them at the stations of all big cities in Belarus.

If you drive a car, after crossing the border, you can exchange money at any of the nearest settlements.

It is important to know that currency exchange in private is prohibited by the judicial authorities of the country and is carried out strictly in accordance with the legislation of the Republic of Belarus. In addition, it is also important to remember that you will not be able to exchange currency without a passport, so it is important to have this document with you.

When exchanging large amounts of money from one currency into Belarusian rubles, you can agree on more favorable exchange rates only in banks.

Cash currency exchange rates in banks

The official rate of the Belarusian ruble is determined by the exchange. The National Bank of the Republic of Belarus fixes this rate based on daily trading at the exchange. The official exchange rate of cash currency can be found at www.nbrb.by.

Online currency exchange rates

At Banks, you can always see the current exchange rate. However, if you do not want to go to the bank just to find out the exchange rate, you can see the most favorable rate at www.myfin.by/currency. The site shows the currency rates of all banks in the Republic of Belarus, as well as the addresses of branches.

Electronic payment systems and exchanges

Belarus has a number of payment systems and e-commerce facilities:

• EasyPay;
• WebPay;
• iPay.

Besides Belarusian payment systems, there are also Russian and international ones:

• Qiwi;
• WebMoney;
• RBK Money;
• ICQMoney;
• Perfect Money;
• PayPal;
• Google Wallet;
• Softcard, etc.

Internet money in Belarus

There are quite a few types of e-money and related services in Belarus (they are listed above).

If you have one of these services connected, it will be much easier to pay for them and you won't even have to leave your hotel or go to the other side of town.

Payment by card and cash

As we mentioned above, only Belarusian rubles are accepted in Belarus. The casino is an exception. Therefore, it is still worth having cash on hand.

If you want to pay with a card, it must be a type of Visa or Mastercard. In this case, you can not convert the money, and when you pay with a card, the bank will write off the amount already converted, according to the exchange rate.

Photo by bestbelarus.by

Taxes on goods in Belarus

The tax on goods is already included in their value. That is, when you come to the store for yogurt and see that its scene is 1.20 Belarusian rubles, the same amount will be taken from you at the cash desk.

At present, the value added tax rate is set at 20%. This is the general rate, which is taken into account when selling goods, works and services.

Banks of Belarus

Belarus has 24 banks and depending on what services you interested in choosing the right one.

Banks of the Republic of Belarus offer a wide range of services for individuals, corporate clients and financial organizations:

• crediting;
• depositing;
• factoring;
• leasing;
• settlement services;
• currency exchange operations;
• operations with securities of banks;
• remote servicing;
• issue of payment cards and other types of services.

In addition, banks traditionally consult their clients on investments, purchase of securities, preparation of tax returns and accounting. They also provide intermediary services in securities transactions, providing their clients with the opportunity to buy shares, bonds and other securities without recourse to a broker or dealer engaged in securities trading.

Analysts of the benefit.by portal analyzed the statistical indicators of the banks of the Republic of Belarus and compiled the rating of the banks. Here are the top 5 banks in this rating:

1. Belarusbank
2. Belagroprombank
3. BPS-Sberbank
4. BelVEB
5. Belgazprombank

You can contact these banks on any of the questions and be sure that you will be provided with quality service.

Shopping in Belarus

Belarus has a large number of shopping centers with large stores of world brands, as well as Belarusian designers, branded stores of the country's leading enterprises, boutiques, hypermarkets, markets and fairs.

Shops often hold promotions and discounts for Christmas and New Year holidays, March 8, February 23 and Valentine's Day, in addition, shops practice night sales and much more. On a normal day you can also stop by the shop and see the goods with a red price tag.

In the shops you can pay with cash or cards with international money systems: Visa and Mastercard.

Popular questions

How to transfer money to Belarus?

Money can be transferred through private payment systems. The most popular in Belarus are Western Union, MoneyGram and Migom. However, Migom works only in the CIS and Baltic countries, and money can be transferred via Western Union and MoneyGram from almost all countries.

The transfer works in the following way: the client in the bank provides the data of his passport, the country to which he sends the money, pays the necessary amount of money and a fee for it, then the bank provides a digital code by which the recipient in another country will be able to receive the transferred amount. To receive the transfer, the recipient also needs a passport.

How to transfer money to the card in Belarus?

You can use one of the payment systems or the bank to transfer the required amount to the recipient's card. You can also make a transfer to the recipient's account.

How can I transfer money from Belarus to Russia?

• You can transfer money to Russia in the following ways:
• by means of white mail;
• international money transfer systems;
• by MoneyGram;
• Unistream;
• by Contact.

And also in any bank of the Republic of Belarus.

Now you all know about the currency of the Republic of Belarus, where to change, how to transfer and how to get. We wish you a pleasant stay in our country.