Editing Belarus (section)

===Currency===
[[File:Belarus - Annual GDP and CPI rates 2001-2013.jpg|thumb|upright=1.4|Belarusian annual [[GDP]] and [[CPI]] rates 2001–2013{{citation needed|date=December 2023}}]]
The currency of Belarus is the [[Belarusian ruble]]. The currency was introduced in May 1992 to replace the [[Soviet ruble]] and it has undergone [[redenomination]] twice since then. The first coins of the Republic of Belarus were issued on 27 December 1996.<ref>{{cite web|title=Banknotes and Coins of the National Bank of the Republic of Belarus|url=http://www.nbrb.by/engl/CoinsBanknotes/|publisher=National Bank of the Republic of Belarus|access-date=20 July 2010|archive-date=27 June 2014|archive-url=https://web.archive.org/web/20140627160916/http://nbrb.by/engl/CoinsBanknotes/}}</ref> The ruble was reintroduced with new values in 2000 and has been in use ever since.<ref>{{cite web|url=http://www.nbrb.by/engl/CoinsBanknotes|title=History of the Belarusian ruble|publisher=National Bank of the Republic of Belarus|access-date=29 April 2013}}</ref> In 2007, The [[National Bank of the Republic of Belarus|National Bank of Belarus]] abandoned pegging the Belarusian ruble to the Russian ruble.<ref>{{cite web |date=23 August 2007 |title=Belarus abandons pegging its currency to Russian ruble |url=http://english.pravda.ru/world/ussr/23-08-2007/96292-belarus_russia-0 |access-date=29 April 2013 |publisher=English.pravda.ru}}</ref> As part of the [[Union State|Union of Russia and Belarus]], the two states have discussed using a single currency analogous to the Euro. This led to a proposal that the Belarusian ruble be discontinued in favor of the [[Russian ruble]] (RUB), starting as early as 1 January 2008.

On 23 May 2011, the ruble depreciated 56% against the United States dollar. The depreciation was even steeper on the black market and financial collapse seemed imminent as citizens rushed to exchange their rubles for dollars, euros, durable goods, and canned goods.<ref>{{cite news|author=Yuras Karmanau |url=http://seattletimes.com/html/businesstechnology/2015143616_apeubelaruscrisis.html|title=Belarus devaluation spreads panic|newspaper=Seattle Times|date=25 May 2011|access-date=27 May 2011}}</ref> On 1 June 2011, Belarus requested an economic rescue package from the [[International Monetary Fund]].<ref>[http://www.stalbertgazette.com/article/GB/20110601/CP01/306019917/-1/sag08/with-economy-in-tatters-belarus-appeals-to-imf-for-rescue-loan-of-up&template=cpArt With economy in tatters, Belarus appeals to IMF for rescue loan of up to $8&nbsp;billion] {{webarchive|url=https://web.archive.org/web/20140114172921/http://www.stalbertgazette.com/article/GB/20110601/CP01/306019917/-1/sag08/with-economy-in-tatters-belarus-appeals-to-imf-for-rescue-loan-of-up%26template%3DcpArt |date=14 January 2014 }}, Associated Press, 1 June 2011; retrieved 2 June 2011</ref><ref>[https://news.yahoo.com/belarus-appeals-imf-8bln-rescue-loan-161455781.html Belarus Appeals To IMF For $8bln Rescue Loan.] {{webarchive|url=https://web.archive.org/web/20160307072633/http://news.yahoo.com/belarus-appeals-imf-8bln-rescue-loan-161455781.html |date=7 March 2016 }} Associated Press, 1 June 2011; retrieved 2 June 2011</ref> A new currency, the new Belarusian ruble ([[ISO 4217]] code: BYN)<ref name="currency-iso.org">{{cite web|url=http://www.currency-iso.org/dam/downloads/dl_currency_iso_amendment_161.docx |format=DOC |title=ISO 4217 Amendment Number 161 |website=Currency-iso.org |access-date=31 March 2016}}</ref> was introduced in July 2016, replacing the [[Belarusian ruble]] in a rate of 1:10,000 (10,000 old ruble = 1 new ruble). From 1 July until 31 December 2016, the old and new currencies were in parallel circulation, and series 2000 notes and coins could be exchanged for series 2009 from 1 January 2017 to 31 December 2021.<ref name="currency-iso.org"/> This [[redenomination]] can be considered an effort to fight the high inflation rate.<ref>{{cite web|url=http://www.mrik.gov.by/ru/republic-ru/view/mezhdunarodnoe-oboznachenie-belorusskogo-rublja-menjaetsja-na-byn-posle-denominatsii-7686/|title=Международное обозначение белорусского рубля меняется на BYN после деноминации – Новости республики – Минский район-Минск-Новости Минска-Новости Минского района-Минский райисполком|access-date=18 March 2016|archive-url=https://web.archive.org/web/20160325023542/http://www.mrik.gov.by/ru/republic-ru/view/mezhdunarodnoe-oboznachenie-belorusskogo-rublja-menjaetsja-na-byn-posle-denominatsii-7686/|archive-date=25 March 2016}}</ref><ref>{{cite web|url=http://president.gov.by/ru/news_ru/view/kommentarij-k-ukazu-450-ot-4-nojabrja-2015-g-12489/|title=Новости – Официальный интернет-портал Президента Республики Беларусь}}</ref> On 6 October 2022, Lukashenko banned price increases, to combat food inflation.<ref>{{cite news |title=Belarusian Strongman Lukashenka Bans Price Hikes To Curb Inflation |url=https://www.rferl.org/a/belarus-inflation-lukashenka-bans-price-increases/32068574.html |newspaper=Radiofreeeurope/Radioliberty}}</ref> In January 2023, Belarus legalized [[copyright infringement]] of [[Digital media|media]] and [[intellectual property]] created by "unfriendly" foreign nations.<ref>{{cite web |last1=Ntim |first1=Zac |title=Belarus Legalizes Piracy Of Audiovisual Material And Computer Software From "Unfriendly" Nations |url=https://deadline.com/2023/01/belarus-legalizes-piracy-of-content-from-unfriendly-nations-1235215833/ |website=[[Deadline Hollywood]] |date=10 January 2023}}</ref>

The banking system of Belarus consists of two levels: the Central Bank (National Bank of the Republic of Belarus) and 25 commercial banks.<ref>{{cite web|url=http://www.heritage.org/research/features/index/country.cfm?id=Belarus|title=Heritage Foundation's Index of Economic Freedom&nbsp;– Belarus|access-date=18 March 2007|archive-url=https://web.archive.org/web/20070223175533/http://www.heritage.org/research/features/index/country.cfm?id=Belarus|archive-date=23 February 2007|url-status=unfit}}</ref>