In the near future, Russia will acquire new bills in denominations of 200 and 2 thousand rubles. This news was announced on April 12, 2016 on the official website of the Central Bank. But it will not be banknotes prepared for the Olympics in Sochi, but full-fledged monetary units, which will now be able to use the citizens of Russia.
The Central Bank has not issued new money since 2001, but now this resonant decision has been made, which should benefit people by facilitating all financial transactions conducted with cash. Often there were complaints from citizens that the calculation using existing bills is inconvenient.
Why do we need new bills?
The 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 of the whole 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 values will help to settle, which will make payments more simple and understandable.
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 release of new money are related
So far, Nabiullina believes that a reasonable issue of currency can accept a situation in which inflation does not rise above six percent. So far, the analysis revealed that the Bank of Russia is doing everything possible to reduce inflation 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 a monetary policy is being pursued, which should also positively affect the value of the currency.
At the moment, in economic terms, Russia is starting to stabilize, which can be seen in 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 side by side with increasing inflation.
All this is aimed at discouraging the consumer ability of citizens, because this is how it turns out to slow down price increases to a minimum. The head of the regulator added that the issue will not affect the money supply in any way, leaving it the same, because dilapidated bills will go out of circulation and will be replaced by new banknotes. Thus, it will be possible to achieve that the issued money does not require additional costs.
Reasonable Issue of Banknotes
Vladimir Tikhonov also agrees that it is simply necessary to give new Russian money to citizens, because a hundred rubles is no longer a large sum for which you can buy food for a day, which can’t be said about a currency with a value of 200. In addition, one-banknote thousand also does not seem to be something significant, so the introduction of new values is simply necessary. Plus, the Central Bank will be much easier, because it will turn out to save money on the production of fewer notes.
Is this information true?
Absolutely. All available printing presses that are ready to go 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.
It also organizes the creation of a financial pillow that can protect the entire Central Bank from collapse. Foreign currency is purchased from the Ministry of Finance. The whole operation pays off thanks to the release of new money.
At the moment, equity financing is only in small amounts, as Oleg Vyugin put it. Now the deficit is being financed from the Reserve Fund, but in fact - the issue. So far, the Central Bank cannot sell enough foreign exchange reserves received from the fund.
Note Design
New money will be in the hands of Russian citizens as early as 2017, but until this time the design will remain uncertain. It is necessary to conduct a vote, according to the results of which the most suitable “person” will be selected for new banknotes.
Logically, then the new banknotes, as well as the old ones, should use the symbols of the Russian regions. That's what the Central Bank wants to do, said Elvira Nabiullina. So the design will remain roughly general, so the new money will be able to fit confidently into the existing picture.
In the summer of this year, 49 cities were selected that may appear on new banknotes. At the moment, about a million Russians took part in the vote, for whom the design of new money turned out to be important and interesting.
Each character had to collect more than five thousand votes in order to pass to the second stage, in which the winner will also be selected by popular vote. That is why it will not be possible to find a photo with new money until the vote ends.
For voting, residents of Russia independently proposed symbols that could become the new “face” for banknotes designed to make life easier for citizens. It was also possible to nominate a symbol of their own city as candidates. There are also many cases that several characters from the same city went to the second stage at once. It is not yet known exactly what new money will carry a certain symbol, be it 200 or 2 thousand rubles, but the results are not long to wait.
It is very pleasing that people are interested in this project, trying to contribute to this situation. People constantly sent photos, sketches, drawings that they would like to see on a future banknote.
The second round of the competition
The second part of the competition has also already passed. All possible settlements were covered, including small villages, so that anyone could express their opinion and vote. Only citizens over 18 years old could take part. 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 characters. As a result, we have 20 characters.
Final Stage Participants
Applicants for the victory are:
- Vladimir - Golden Gate, Assumption Cathedral.
- Volgograd - “Motherland is calling!”, 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 Chersonesos, Monument to the scuttled ships.
- Sergiev Posad - Holy Trinity St. Sergius Lavra.
- Sochi - Rosa Khutor, Fisht Stadium.
On October 7th, winners will be selected. Live broadcast will be broadcast on the channel "Russia 1", anyone can vote using SMS. New money in Russia will carry exactly some of these symbols.
Banknote security
New money will be issued with excellent protection from scammers 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 came out, no information was disclosed to prevent criminals from preparing for new technologies.