Belarusian ruble in the context of "Rouble"

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⭐ Core Definition: Belarusian ruble

The ruble, rouble or rubel (Belarusian: рубель, romanizedrubieĺ; Russian: рубль, romanizedrubl'; abbreviation: Br, ISO code: BYN) is the currency of Belarus. It is subdivided into 100 kopecks (Belarusian: капейка, romanizedkapiejka, Russian: копейка, romanizedkopeyka).

The exchange rate of the Belarusian ruble is determined based on a basket of currencies consisting of the Russian ruble (with a weight of 60%), the US dollar (with a weight of 30%) and the renminbi (with a weight of 10%). The euro was part of said currency basket but was excluded in December 2022 due to a decrease in the volume of trade between Belarus and the European Union.

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👉 Belarusian ruble in the context of Rouble

The ruble or rouble (/ˈrbəl/; Russian: рубль, IPA: [rublʲ]) is a currency unit. Currently, currencies named ruble in circulation include the Russian ruble (RUB, ₽) in Russia and the Belarusian ruble (BYN, Rbl) in Belarus. These currencies are subdivided into one hundred kopeks. No kopek is currently formally subdivided, although denga (½ kopek) and polushka (½ denga, thus ¼ kopek) were minted until the 19th century. Additionally, the Transnistrian ruble is used in Transnistria, an unrecognized breakaway province of Moldova.

Historically, the grivna, ruble and denga were used in Russia as measurements of weight. In 1704, as a result of monetary reforms by Peter the Great, the imperial ruble of the Russian Empire became the first decimal currency. The silver ruble was used until 1897 and the gold ruble was used until 1917. The Soviet ruble officially replaced the imperial ruble in 1922 and continued to be used until 1993, when it was formally replaced with the Russian ruble in the Russian Federation and by other currencies in other post-Soviet states. In the past, several other countries influenced by the Russian Empire and the Soviet Union had currency units that were also named ruble, including the Latvian ruble, Tajikistani ruble and Transcaucasian ruble (later Armenian ruble, Azerbaijani ruble, Georgian ruble).

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Belarusian ruble in the context of International use of the U.S. dollar

The United States dollar was established as the world's foremost reserve currency by the Bretton Woods Agreement of 1944. It claimed this status from sterling after the devastation of two world wars and the massive spending of the United Kingdom's gold reserves. Despite all links to gold being severed in 1971, the dollar continues to be the world's foremost reserve currency. Furthermore, the Bretton Woods Agreement also set up the global post-war monetary system by setting up rules, institutions and procedures for conducting international trade and accessing the global capital markets using the U.S. dollar.

The U.S. dollar is widely held by central banks, foreign companies and private individuals worldwide, in the form of eurodollar foreign deposit accounts (not to be confused with the euro), as well as in the form of US$100 notes, an estimated 75% of which are held overseas. The U.S. dollar is predominantly the standard currency unit in which goods are quoted and traded, and with which payments are settled in, in the global commodity markets.

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