The ruble (alternatively rubel or rouble; ; abbreviation: Rbl (plural: Rbls); ISO code: BYN) is the currency of Belarus. The ruble is subdivided into 100 kopecks (, , ). History First ruble, 1992–2000 As a result of the breakup of the supply chain in the former Soviet enterprises, goods started to be bought and sold in the market, often requiring cash settlement. The Belarusian unit of the USSR State Bank had neither the capacity nor the licence to print Soviet banknotes, so the government decided to introduce its own national currency to ease the cash situation. The German word Thaler (), divided into 100 Groschen () was suggested as the name for a Belarusian currency, but the Communist majority in the Supreme Soviet of Belarus rejected the proposal and stuck to the word ruble that had been used in Belarus from the times of the Soviet Union and the Russian Empire. The word ruble has also been used as a name for a currency in circulation in the medieval Grand Duchy of Lithuania, of which Belarus was a major part (see Lithuanian long currency). From the collapse of the Soviet Union until May 1992, the Soviet ruble circulated in Belarus alongside the Belarusian ruble. New Russian banknotes also circulated in Belarus, but were replaced by notes issued by the National Bank of the Republic of Belarus in May 1992. The first post-Soviet Belarusian ruble was assigned the ISO code BYB and replaced the Soviet currency at the rate of 1 Belarusian ruble = 10 Soviet rubles. It took about two years before the ruble became the official currency of the country. Second ruble, 2000–2016 In 2000, a new ruble was introduced (ISO 4217 code BYR), replacing the first at a rate of 1 BYR = 1,000 BYB. This was redenomination with three zeros removed. Only banknotes were issued; coins were minted solely as commemorative collectibles. Monetary integration with Russia From the beginning of his presidency in 1994, Alexander Lukashenko began to suggest the idea of integration with the Russian Federation, and undertook steps in this direction. The idea of introducing a united currency for the Union of Russia and Belarus was floated; Article 13 of the 1999 "Treaty of Creation of the Union State of Russia and Belarus" foresaw a unified currency. Belarus' economy was largely a Soviet-style centrally controlled one heavily reliant on cheap energy supplies from Russia. Discussions