Yuri Yudenkov, Ph.D. in Economics, expressed the opinion that the issue of new money, especially coins, is too expensive for the Central Bank, so the regulator’s project to withdraw coins from the population is an attempt to reduce possible costs.
“In order not to mint new ones, we decided to conduct an experiment and offer citizens to hand over coins for real paper money, thus the Central Bank will not need to issue new ones. The function of the Central Bank is servicing the money turnover. The regulator has a local problem – the lack of small items in the regions. Collecting metal, smelting it in a certain way, achieving such a quality so as not to counterfeit is not a cheap pleasure, ”Yudenkov emphasized.
According to the Central Bank, at the beginning of this year there were 69.126 billion coins in circulation, totaling over 113 billion rubles.
Earlier, Georgy Ostapkovich, director of the Center for Business Studies at the Higher School of Economics, in an interview with Izvestia, assessed reports of an increase in the issue of digital bank cards.
Source site russian.rt.com