Circulating again: Central Bank’s 5,000 rouble note
1 Aug, 2006 06:09
A new 5,000 rouble bank note is returning to circulation. It's the ninth time such a bill has appeared – the last one losing three zeros in currency change eight years ago. The note arrives in restricted numbers.
One bill will replace five 1,000-rouble bills, reducing Central Bank spending on printing and maintaining the money stock.Officials say the country's strengthening economy and the growth of average monthly incomes justify the move and believe the bank note will be in demand. The red and orange bill continues the theme of depicting city themes. This time it features
Khabarovsk, inRussia’s Far East. Nikolay Muravyov-Amursky, a scientist who did tremendous work to explore and develop the region, features on the face side and a bridge across the Amur river is on the reverse.The note has unprecedented counterfeit protection, incorporating micro-perforation and changing colour fields featured only on Swiss Franc notes. Central Bank executives say the issue will not trigger inflation since the note will change only the structure, not the size, of the money stock. Some are less confident, saying business will suppose people have more money and raise prices in line.