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Forex Humor:::2019-06-28

Russia's сentral bank experiments with banknotes

Russian 100 hundred banknotes will look even better. Considerng a new varnishing, the Central Bank came to a conclusion that it suits both new and old banknotes better.

This is an innovation that has been tested on recently issued banknotes denominated in 200 roubles.

Varnishing helps to significantly increase the service life of paper money, and it therefore saves other money - currency printing takes some budget funds. 

New banknotes get worn more slowly, therefore, fewer banknotes are to be printed to replace those that have become decrepit.

“The savings due to increased longevity of varnished banknotes are  much more worthy than this technological operation costs,” Deputy Director of the Cash Department Vladimir Demidenko said. 50 rouble banknotes will also be varnished soon. It should be noted that 100 and 50 rouble banknotes are hardly leaders in numbers among other banknotes. Their share of the total amount of printed money is only 19 percent and 9 percent respectively. The central bank has elaborated on how exactly the varnish for money was selected. “A test batch of variations of the usual 100 hundred banknotes with a different type of varnish was released back in 2016,” Demidenko explained. These banknotes were tracked by their serial numbers to gather circulation statistics. Our equipment allows to assess their durability. That’s how bank officials determined the varnish that gives the best effect.”

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