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bankofrussia

By Bank of Russia ……
 

The Bank of Russia has decided to supplement its existing series of banknotes with new 200- and 2,000-ruble denominations.

The new banknotes will enhance the convenience of cash payments and save time when paying for goods and services.

The introduction of the new 200- and 2,000-ruble banknotes into circulation is expected by the end of 2017, since the period from the start of development to release new banknotes into circulation is about two years.

The issue of banknotes of intermediate denominations (such as 200 and 2,000 rubles) is economically justified in the case when inflation does not exceed 4-6%. According to the Bank of Russia’s forecasting, the annual inflation rate will reach the target level of 4% at the end of 2017.

The release of the new banknotes will not affect the amount of outstanding cash currently circulating.

Existing Russian banknotes depict aspects of Russian cities and regions. The Bank of Russia intends to continue this tradition, but for the first time the country’s citizens will choose what will represent each city and region on the nation’s currency. In the summer of 2016 the Bank of Russia, together with one of the federal channels, will vote; the results of which will be featured on the new money.

Prior to the 2017 200- and 2,000-ruble banknotes, the Bank of Russia introduced 5,000-ruble notes in 2006 and 1,000-ruble notes in 2001.
 


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