The Bank of Russia plans to gradually replace ten ruble banknotes with coins of the same denomination, since coins last much longer and cost the state less. Georgy Luntovsky also said a ten thousand ruble note is not planned, and 1 and 5 kopeck coins may be withdrawn from circulation.
The Bank of Russia plans a gradual transition from ten-ruble banknotes to coins of the same denomination. This was announced the day before by First Deputy Chairman of the Bank of Russia Georgy Luntovsky.Luntovsky said that the displacement of the specified banknote would take place gradually. According to him, the lifespan of the banknote is only six months, while a coin remains in circulation for up to twenty years, which is cheaper for the state.
When asked whether the Central Bank planned to issue a ten-thousand-ruble banknote, the first deputy chairman answered in the negative.
The use of 1- and 5-kopek coins may also be discontinued. The Central Bank (CB) is advancing such an initiative. These coins have in fact already been withdrawn from circulation. The production of this small change is quite costly, and they are practically not used in circulation.