100 000 Roubles

Belarus redenominated in 1994, replacing Soviet-era roubles at 10:1, but inflation continued moving fast enough that the National Bank was issuing 100,000-rouble notes just two years later — a denomination that would have been unthinkable at independence. The series to which this note belongs was itself superseded when Belarus redenominated again in 2000, this time at 1,000:1, collapsing the 100,000-rouble note to a face value of 100 new roubles.

Notes from this period are heavily associated with the economic turbulence of the Lukashenko government's early years, when artificial exchange rate controls and a refusal to coordinate monetary policy with Russia drove parallel currency markets across the country.