Russian authorities and financial institutions are moving toward circulating new five and ten ruble banknotes while ensuring public familiarity with the updated paper money. Major companies have been distributing guidance to employees on how to verify the authenticity of the new notes, a measure that aims to reduce the risk of counterfeit bills in daily transactions. This information comes from Mash, a Telegram channel known for reporting on economic and financial developments in Russia.
According to Mash, fundraising centers have begun exchanging the new notes in place of the older five and ten ruble coins. The Central Bank of Russia has already included the new notes in its fraud-prevention ratings, signaling ongoing vigilance against counterfeit currency. On inspection, the updated paper money bears familiar features that users should be able to recognize under light or at a quick glance: watermarks and security threads become visible when illuminated, the letters PP appear at a noticeable angle, and the tactile texture of the paper provides a subtle relief that can be felt with the fingertips. The overall design remains compatible with established numismatic checks used for other banknotes, ensuring continuity for the public and retail workers alike.
Mash notes that the move to reintroduce five and ten ruble notes was driven by rising costs associated with minting coins, a trend that has affected currency logistics and cash handling in retail networks and financial institutions alike. In late 2021 and concerns carried into 2022, the Bank of Russia signaled an ongoing program to reissue these notes, citing the need for cost efficiency in the currency ecosystem while maintaining public confidence in the banknote series. The Bank of Russia announced plans to continue issuing five and ten ruble notes through 2022, including efforts to revive older designs that had not circulated for years. The ten ruble note from the 1997 model, which had ceased production in 2013, was slated for renewed print runs, and a five ruble note that had not been printed since 1998 was also expected to return to circulation. These notes, while less common today, are increasingly seen in some regions as the economy adapts to new cash-management realities.
In March 2023, Sergei Belov, Deputy Governor of the Bank of Russia, reported the successful introduction of the five and ten ruble banknotes into broader circulation. He indicated that the new notes had begun to appear in several regions, signaling a phased rollout to ensure supply stability and acceptance by merchants, banks, and the public. This rollout aligns with ongoing efforts to standardize the currency base while addressing regional demand and ensuring accessibility for all segments of the population, including those who rely primarily on cash transactions for daily needs.
Earlier discussions in the Russian academic and financial communities touched on the rationale behind returning to the five and ten ruble notes. At the Russian Economic University named after G. V. Plekhanov there were debates and analyses about the implications for monetary policy, cash handling, and public perception. The decision to revert to issuing these notes drew attention from economists and policymakers who weigh the benefits of cost savings, circulation efficiency, and the practical realities of everyday payments against broader monetary policy goals and anti-counterfeiting measures. The conversations emphasized how design features, security elements, and public education all play a role in maintaining trust in the currency while adapting to evolving economic conditions.