At the end of the year, Russia plans to resume printing a ten-rouble note of 1997, the issue of which ceased in 2013. Sergey Belov, Deputy Chairman of the Central Bank, who oversees cash circulation, spoke about this in an interview with Izvestia.
The Central Bank believes that the return of low denomination banknotes to active circulation (and their service life will increase due to the use of new technologies) will reduce the cost of producing cash.
“The minting of metal 10 rubles turned out to be costly. By increasing the service life of banknotes of this denomination, we get an economic effect. Therefore, we believe that it is advisable to resume the issuance of ten-rouble notes. We are also discussing the issue of resuming the printing of five-ruble banknotes, which stopped ordering from Goznak after 1998,” Belov said.
According to the deputy chairman of the Central Bank, these banknotes are still in circulation, but they are extremely rare in circulation.
He gave several more arguments in favor of returning low-denomination banknotes to active circulation. So, coins, including ten-ruble ones, are poorly returned to circulation. They most often end up in the piggy banks of citizens.
Belov stressed that there is no talk of replacing metal money with denominations of five and ten rubles with banknotes. Both will continue to be in circulation.
He clarified that at the end of the year it is planned to resume the issuance of a ten-rouble note of the 1997 model, that is, the one that we use now. And the modification of this banknote will take place according to the approved plan – in 2025.
Read more in the exclusive Izvestia article:
Not a petty matter: the Central Bank intends to resume the printing of ten-ruble bills
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