200 Roubles

Belarus launched its own currency in 1992 after independence from the Soviet Union, initially introducing a series of low-denomination ruble coupons before scaling up. This 200-rouble note belongs to the first substantive paper money series issued under the new republic — a period of extraordinary monetary instability, during which inflation would eventually render the entire early series worthless within a few years and necessitate a full redenomination in 1994.

The Pick reference A23 places this among the provisional issues catalogued separately from the main series, reflecting some uncertainty in early attribution of the 1992 Belarusian notes.