Goznak: the number of banknotes has started to decrease in Russia 19 февраля 2018 года

Goznak: the number of banknotes has started to decrease in Russia

There were about six billion of banknotes in Russia in the last decade; however, their number has started to decrease recently. Georgy Kornilov, Director of the Scientific Research Institute of Goznak, announced that at the opening of the International PLUS-Forum “Banking self-service, retail and cash circulation 2018” on November 14.

“The number of banknotes in the world has stabilized in recent years, a number of countries have even noticed a decrease. We have had approximately the same number of banknotes in circulation in Russia during the last decade – about six billion, and this number has even started to decrease over the last years”, said Georgy Kornilov. 

At that, according to Georgy Luntovskiy, President of Banking Association of Russia, since the beginning of 2018 the volume of cash in circulation has grown by 4% and exceeded nine trillion roubles. Goznak’s data confirm these figures

Georgy Kornilov also noted that banknotes remain the most trusted and popular payment method among the people. The attitude of the Central Bank to cash circulation has also changed during the last year. First of all, the myth that cash is widely used for financing of terrorism and hidden economy has been shattered. Cash also has advantages – it is convenient for micropayments and it is the best available payment instrument for two billion people in the world who have no access to banking services, Mr. Kornilov summarized.

According to the materials of

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