Russia will start printing 5 and 10 ruble banknotes again

The Central Bank intends to return into circulation banknotes of small denominations - 5 and 10 rubles. The mass return of new samples of old banknotes is scheduled for the end of 2022. Sergey Belov, Deputy Chairman of the Bank of Russia, told Izvestia about this.

The main reason for the return to banknotes of small denominations is the rise in prices for metals, the minting of coins has become too costly. In addition, modern banknote production technologies have advanced and increased the “survivability” of banknotes by an average of 30%. Belov explained that in the 2000s, Russians actively used banknotes of small denominations, as a result of which they wore out very quickly. At the moment, the Central Bank has decided to return banknotes with a face value of 10 rubles, the expediency of five-ruble banknotes is still being worked out.

“It was decided to replace them with coins. And although they are more expensive to manufacture, we have benefited from the greater durability of metallic money. Now technologies have changed, for example, banknotes can be varnished, which allows to increase their service life by 30%,” said the Deputy Chairman of the Central Bank, noting that, in particular, we are talking about the technology of varnishing banknotes.

At the same time, there is no talk of withdrawing coins from circulation, the deputy chairman of the Central Bank explained that banknotes will go in parallel with coins. Another reason for the return to low-denomination banknotes is “coin settling in the piggy banks of Russians.” Moreover, retail chains admitted that it is inconvenient for them to store and transport a large number of coins - banknotes would be a good way out for them.

“Retail tries to use the change at home, that is, not to collect and not to hand over. The metal is very heavy, it needs to be counted, stored, transported, so they are interested in lighter and easier-to-handle banknotes,” Belov said.

The Russians will have to wait for the updated banknotes until at least 2025, when the ten-ruble note will be restyled. The samples of 1997 issue will increase the share of banknotes, the Central Bank has similar plans for five-ruble notes. After restyling, the banknotes will achieve the same level of protection as the most modern banknotes in denominations of 100, 2000 and 200 rubles.

Currently, 10-ruble banknotes account for only 5% of the total amount of money in circulation, the share of five-ruble notes is in the area of ​​statistical error. At the end of June, the Bank of Russia introduced a new 100-ruble note featuring the Spasskaya Tower and the Rzhev Memorial to a Soviet soldier. The bills have already entered circulation and immediately encountered difficulties - they are not accepted by most ATMs that have lost software support due to sanctions.

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