5 Roubles

Belarus issued this note in 1992 as part of its first independent currency series — the Belarusian ruble — introduced after the collapse of the Soviet Union and the country's formal break from the ruble zone. The series was a rapid production exercise; early notes were printed without the infrastructure of an established central bank, and the denominations rolled out in quick succession to meet an immediate liquidity need.

The watermark is the sole security feature, a reflection of how quickly this series had to be produced. Within a few years, hyperinflation had rendered the entire low-denomination range functionally worthless, and redenomination followed in 2000 at a ratio of 1,000 to 1.