50 Roubles

Belarus issued its first post-Soviet rouble series in 1992 as a transitional currency — initially called the Belarusian rouble but circulating alongside, then replacing, Soviet roubles still in local use. Inflation moved fast; this 50-rouble note, meaningful at issue, was effectively worthless within two years as the country experienced some of the worst hyperinflation among the former Soviet republics.

The series was printed with minimal security — a single watermark being the only counterfeit deterrent on most denominations. By 1994 the government was issuing notes in the hundreds of thousands of roubles.