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Keep it as a keepsake: Nabiullina will remove conventional money from circulation
In the conditions of the modern Russian economy, the question of the need to produce small coins has arisen. Chairman of the State Duma Committee on Financial Markets Anatoly Aksakov drew attention to the fact that the population is increasingly using smaller coins in everyday payments. Many citizens even refuse to take change when asked, which calls into question the need to issue more such banknotes. This is reported by RIA Novosti.
The Central Bank of Russia has already taken certain steps in this direction. Last year, the production of 5-ruble notes instead of coins was resumed, which turned out to be a more cost-effective solution. Thanks to a special protective coating, the service life of these banknotes is significantly increased, which makes them even more practical to use.
Despite the debate over the possibility of minting small amounts, Aksakov stressed the stability of the country's currency and the absence of plans to reform or devalue it. According to the latest central bank data, the number of coins in circulation is more than 72.8 billion, equivalent to an average of about 500 per person in the country. Over the past year, the number of coins in circulation has increased by 1.2%.
"At the same time, it is clear that there will be no devaluation, no reforms, no changes, since the national currency is stable. Central banks very strictly ensure stability, including by conducting monetary policy. This is the value of the national currency," Aksakov concluded.