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From the bills. Why the Bank of Russia introduces new money

От купюр. Зачем Банк России вводит новые деньги

In Russia will have new banknotes. In 2017, the Central Bank will print banknotes with denomination of 200 and 2000 rubles, and those will go into the wallets of consumers. The regulator points out that this is done for the convenience of citizens. “Ribbon.Roo” answered five basic questions about new Russian Bank notes.

What happened?

In 2017, the Bank of Russia will put into circulation banknotes of 200 and 2000 rubles. On 12 April, said the head of the Central Bank Elvira Nabiullina. How it will look like banknotes, is unclear. Nabiullina said that their design is supposed to be put out for public consultation.

— On the Russian banknotes now depict the symbols of the Russian regions. We would like to preserve this tradition, but to start a new tradition and make this decision public, said the Chairman of the Bank of Russia.

The last time the Central Bank introduced new money in 2009. Then appeared in Russia coin 10 roubles. Even earlier — in 2006 — began to print red-orange five-thousandth banknotes with the monument to Muravyov-Amursky and the bridge across the Amur river. In 2001, the Russians first became acquainted with blue-green banknotes dignity 1000 rubles, devoted to Yaroslavl.

In 2015 on the website change.org there appeared a petition for the introduction into circulation of banknotes of 2,000 rubles, dedicated to Vladivostok. It was noted that in the collective unconscious, thanks to the song of the group “Mumiy Troll” fixed combination “Vladivostok-2000”. The petition garnered signatures from 7447 10 thousand necessary.

Press Secretary of the head of the Chechen Republic Alvi Karimov, in turn, stated that Ivan deserves to decorate a new bill. “A beautiful city with a decent story. I am sure, will agree with the majority of Russians. Ivan deserves to be shown. First and foremost is the mosque “Heart of Chechnya””, — he stressed.



От купюр. Зачем Банк России вводит новые деньги

Image: change.org


Why is it necessary?

“In our view, this will simplify the calculations of citizens for goods and services”, — said Nabiullina. According to the Bank of Russia, a significant proportion of payments in the country accounted for the interval between 100 and 500 rubles, and 1000, and 5000 rubles. There is a steady demand for banknotes intermediate value. That is, the regulator introduces new money to the buyers was easier to pay in stores.

Why 200 and 2000?

As already noted, for the convenience of consumers desired intermediate values. And this is 250 and 2500 rubles. Therefore, the regulator chose between 200 and 300, and between 2000 and 3000 rubles. Traditionally in many countries notes are issued with “two”: 2 dollars, 2 fire (China, produced in 50-ies of the last century), 200 EUR, 200 USD, 2000 Kazakh tenge and Russian 200 rubles 1993.



От купюр. Зачем Банк России вводит новые деньги

200 Euro


It is likely that the Bank of Russia just decided not to deviate from global standards. Moreover, the country has been dealing with dogrulama coin. Although Patriotic tradition and the “Troika”. Banknote of 3 rubles were introduced in 1898 in the Russian Empire, they were used in the Soviet Union (of course, with a new design). Trehubenko survived until 1991, and in 2015 the Central Bank minted a commemorative coin 3 rouble summit of the BRICS and the SCO, which was held in Ufa.

As the introduction of new banknotes will affect inflation?

Elvira Nabiullina hastened to reassure all who are concerned about the rapid rise of prices, stressing that the issue of new banknotes dignity will not affect inflation and the money supply. In addition, the issue will not require additional expenditures.

From an economic point of view banknotes of this denomination is better to release when the inflation rate is 4-6 percent, said Nabiullina. Recall that by 2017, the Bank of Russia plans to repay the price increase just under 4 percent. To this end, the regulator conducts a tight monetary policy, expressed in a high key rate (11 percent per annum at the moment). Consumer demand destimulation, and the lower it is, the slower the prices increase.

In addition, we are not talking about the rampant issue of unbacked rubles (to this from time to time, encourages the assistant to the President Sergey Glazyev, in his opinion, this will saturate the economy with cheap credit). The old banknotes will be gradually withdrawn from circulation, the amount of money will not change.

Does the Bank of Russia will include the printing press?

Of course. To print new money will have to use the power of Goznak. But nothing wrong with that. Moreover, the so-called printing press is in full swing. The fact that the Federal budget deficit was covered by Reserve Fund. Financial “safety cushion” generated from foreign currency. The Ministry of Finance sells its securities, transaction by issuing new rubles.



От купюр. Зачем Банк России вводит новые деньги

Banknote of 200 rubles of 1993


“Today we are seeing the financing of the budget deficit from the Reserve Fund — quoted, and actually it is a direct emission, because the Central Bank does not sell a corresponding amount of currency in the market, which he received in due time from the Reserve Fund. That is actually is monetary financing is still on a small scale,” said April 7 the Chairman of the Board of Directors of MDM Bank, former Chairman of the Central Bank Oleg Vyugin.

However, this does not lead to an acceleration of inflation. “The Bank of Russia has enough funds to sterilize money emission. This can be done, say, by reducing the growth rate of liquidity provision by the Bank of Russia”, — said in March last year the Chairman of the Central Bank Ksenia Yudaeva.

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