Home Economy The Central Bank sees no prerequisites for denomination in Russia

The Central Bank sees no prerequisites for denomination in Russia

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The deputy chairman of the Central Bank, Sergei Belov, believes that there are no reasons for a denomination in Russia. He noted that it is carried out mainly after a period of hyperinflation. Denomination is the exchange of old banknotes for new ones with a lower denomination (with fewer zeros). quality, more durable and protected. Now there are no economic prerequisites for a denomination, it is not even worth discussing it,” Mr. Belov told Izvestia. So he answered the question of whether a denomination is planned in Russia. The Deputy Chairman of the Central Bank recalled that in 1998, when the last denomination was carried out, this process became “a kind of cut-off for a period of financial instability” with large-scale inflation. “The denomination carried out was aimed at strengthening confidence in the Russian national currency,” Mr. Belov said. He noted that the denomination was quite costly and lengthy. Even more news in the Telegram channel ….

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