After the fall of the Soviet Union in 1992, the Belarus Ruble replaced the Soviet Union Ruble. The new ruble was introduced because of a shortage of Russian rubles to pay for fuel and debts. The Belarus Ruble was tied to the Russian Ruble for some time, although Russians would not accept it as payment. In 1993, Belarus and 5 other countries that were formerly in the Soviet Union created a joint monetary system based on the Russian ruble. The National Bank of Belarus used many different exchange rates that were dependent on the circumstances and nature of the transactions, thus limiting the convertibility of the ruble. A new ruble was introduced in 1994. One new Ruble was equal to 10 old Rubles, and another Ruble was introduced in 2000. The newest ruble is worth 1000 of the previous rubles. As of 2002, 1854 BYR was equal to 1 USD.
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