50.000 Rublëy

Belarus redenominated in 2000, lopping three zeroes off the 1992–1999 ruble series — meaning this 50,000-ruble note was the direct successor to the old 50,000,000-ruble denomination that inflation had made necessary during the chaos of the mid-1990s. The National Bank issued the new series partly to restore public confidence in a currency that had lost the better part of its value in under a decade.

The cotton substrate and basic security package reflect the period's fiscal constraints. Belarus would redenominate again in 2016, this time removing four zeroes, rendering even this 2000-series note a relic of incomplete stabilization.