200 Roubles

Belarus issued its first independent currency series in 1992 while still navigating the collapse of Soviet monetary infrastructure. The ruble zone was disintegrating, and Minsk needed circulating notes fast — speed, not sophistication, defined the early issues. The single watermark was essentially the minimum credible security for a sovereign note at the time.

Pick 9 is part of the so-called "Zaichiki" series, named after the animals depicted across the denominations — a nickname that stuck hard enough to define the entire 1992 issue in popular memory.