The central banking system in Russia announced a planned update to its currency in 2023, with the intention of introducing a new 1,000-ruble note and a new 5,000-ruble note during the summer. The information was shared at a high-level gathering of regulators and credit institutions organized by the Banks Association of Russia and subsequently reported by major outlets. The announcement highlighted that the redesigned notes would feature an enhanced appearance, an upgraded security system, and higher wear resistance to withstand extensive circulation.
Officials stressed that this modernization would lead to a noticeable improvement in the overall quality of banknotes in everyday use and would offer stronger protection against counterfeiting. The modernization effort is framed as part of a broader push to maintain trust in the currency and to ensure that circulating notes meet modern durability and security expectations.
Earlier in the year, the central bank noted a rise in counterfeit activities involving both banknotes and coins, signaling a troubling trend for currency integrity. The organization reported that the counterfeit incidents had increased by about 1.6 times relative to the previous year, totaling roughly 22,900 units. This uptick underscored the need for ongoing vigilance and periodic updates to currency security features.
From a broader perspective, the regulator emphasized that, even with a large volume of notes in circulation, the incidence of counterfeit notes remained small in proportion. For the approximately 1 million banknotes circulating in the prior year, only a handful were counterfeit. Historical data show that such counterfeit indicators reached their lowest levels in more than a decade, underscoring both the effectiveness of security measures and the importance of continued investment in currency protection. These figures are summarized for context, reflecting the ongoing balance between convenience for the public and the imperative to deter illicit copying. (Source: currency inspection reports, with attribution to reporting agencies.)