New money in Russia (photo)

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

In the near future, Russia will acquire new banknotes of 200 and 2 thousand rubles. This news was announced on April 12, 2016 on the official website of the Central Bank. But these will no longer be banknotes prepared for the Sochi Olympics, but full-fledged monetary units that Russian citizens will now be able to use.

The issue of new money by the Central Bank has not been made since 2001, but now this resonant decision has been made, which should benefit people by facilitating all financial transactions carried out with cash. Often there were complaints from citizens that it was inconvenient to make payments using existing banknotes.

Why do we need new banknotes?

An answer to this question was given by a political and statesman - Elvira Nabiullina, who said that the introduction of new banknote values should significantly facilitate the calculations of citizens throughout the country. The fact is that most operations are carried out in the ranges from 100 to 500 rubles, as well as from 1000 to 5000 rubles. Now intermediate denominations will help to calculate, which will make payments moresimple and clear.

At first, the regulator could not decide whether to choose a value of 200 and 2 thousand rubles or 300 and 3 thousand rubles. Most likely, the decision was made based on the global trend, because in many currencies there is a deuce: 2 dollars, 200 euros, 200 hryvnias and so on.

How inflation and the issuance of new money are related

So far, Nabiullina believes that it is possible to adopt a situation in which inflation does not rise above six percent by expediently issuing currency. So far, the analysis revealed that the Bank of Russia is doing everything possible to bring inflation down to four percent by the end of 2017. Until recently, the key rate on loans was 11 percent, at the moment this number has fallen by 0.5 percent, that is, the rate has become 10.5 percent. This is due to the fact that monetary policy is being carried out, which should also have a positive impact on the value of the currency.

At the moment, in economic terms, Russia is starting to stabilize, which can be seen from the dynamics of GDP in the first quarter of 2016. This is partly achieved by reducing fluctuations in oil prices. The Bank of Russia also confirms these statements, adding that positive trends will not go hand in hand with rising inflation.

All this is aimed at destimulating the consumer ability of citizens, because this is how it will be possible to slow down price growth to a minimum. The head of the regulator added that the emission will not affect the money supply in any way, leaving it the same, becauseold banknotes will go out of circulation and be replaced by new banknotes. In this way, it will be possible to achieve that the issued money does not require additional costs.

Justified issue of banknotes

Vladimir Tikhonov also agrees that the new Russian money simply needs to be put into the hands of citizens, because one hundred rubles is no longer a large amount for which you can buy food for a day, which cannot be said about a currency with a value of 200. K In addition, a one thousand banknote also does not seem to be something significant, so entering new values is simply necessary. Plus, it will be much easier for the Central Bank, because it will save money on the production of fewer banknotes.

Is this information true?

Absolutely. All available printing presses that are ready for operation will be launched. In fact, all the machines are working now, because at the moment the budget deficit is covered thanks to the available funds in the Reserve Fund.

The creation of a financial cushion is also being organized, which will be able to protect the entire Central Bank from a collapse. The purchase of foreign currency is carried out from the Ministry of Finance. The whole operation pays off in full thanks to the issuance of new money.

At the moment, emission financing is carried out only in small amounts, as Oleg Vyugin put it. Now the deficit is being financed from the Reserve Fund, but in reality it is an issue. So far, the Central Bank cannot sell enough of the foreign exchange reserve received from the fund.

Banknote design

The new money will be in the hands of the citizens of Russia already in 2017, but until then the design will remain uncertain. It is necessary to hold a vote, as a result of which the most suitable "face" for the new banknotes will be chosen.

If you think logically, then the symbols of Russian regions should be used on new banknotes, as well as on old ones. This is exactly what the Central Bank wants to do, Elvira Nabiullina noted. So the design will remain roughly generic, so the new money can confidently fit into the existing picture.

This summer, 49 cities were chosen that could be on the new banknotes. At the moment, about a million Russians have taken part in the vote, for whom the design of new money turned out to be important and interesting.

Each character had to get more than five thousand votes to advance to the second stage, in which the winner would also be chosen by popular vote. That is why the new money will not be able to find a photo until the voting is over.

For voting, the inhabitants of Russia independently proposed symbols that could become a new “face” for banknotes designed to make life easier for citizens. It was also possible to nominate a symbol of your own city as a contender. There are also many cases when several characters from one city passed to the second stage at once. So far, it is not known exactly which new money will carry a certain symbol, whether it be 200 or 2 thousand rubles, but it will not be long to wait for the results.

It's very encouraging that people are showing interest in this project, trying to contribute to this situation. People constantly sent photos, sketches, drawings that they would like to see on the future banknote.

Second round of the competition

The second part of the competition has already passed. All possible settlements were covered, including small villages, so that anyone could express their opinion and vote. Only citizens over the age of 18 could participate. The stage was held from the fifth to the thirtieth of August. According to the results of the competition, ten cities were identified, each of them provided two symbols. As a result, we have 20 characters.

Participants of the final stage

Contenders for victory are:

• Vladimir - Golden Gate, Assumption Cathedral.
• Volgograd - "The Motherland Calls!", Mamaev Kurgan.
• Far East - Vostochny Cosmodrome, Bridge to Russky Island.
• Irkutsk – Lake Baikal, Babr.
• Kazan - Kazan Kremlin, Kazan Federal University.
• Nizhny Novgorod - Kremlin, Fair.
• Petrozavodsk - Kizhi.
• Sevastopol - Tauric Chersonese, Monument to the Scuttled Ships.
• Sergiev Posad - Holy Trinity Sergius Lavra.
• Sochi – Rosa Khutor, Fisht stadium.

On the 7th of October the winners of the voting will be chosen. The live broadcast will be broadcast on the TV channel "Russia 1", anyone can vote via SMS. New money in Russia will wear exactly some of these symbols.

Banknote security

New money will be issued with excellent protection against fraudsters who are constantly trying to deceive citizens. The head of the Central Bank will try to teach everyone to distinguish real banknotes from fakes. Until the bills are released, no information is released to give criminals time to prepare for new technologies.