Kirill Chernovol, Researcher at the Gaidar Institute's International Best Practices Analysis Department, stated in a comment for Izvestia that the process of modernizing banknotes is a routine part of the regulator's work.
“The Bank of Russia issues banknotes, organizes their circulation and withdrawal. This is done both because of the deterioration of banknotes and to update anti-counterfeiting measures,” Kirill Chernovol noted.
Despite the active development of non-cash payments, the role of cash in the economy remains significant. The expert drew attention to the steady growth in the volume of cash in circulation: from Rb10.6 trillion at the beginning of 2020 to Rb18.7 trillion on January 1, 2025. At the same time, according to him, “non-cash payments dominate in everyday transactions—according to the Bank of Russia, in 2024, the share of non-cash payments in retail turnover was 85.8%. Only about 9% of citizens use cash.”