The Bank of Russia is changing the appearance and denominations of banknotes. What you need to know

The Central Bank of Russia has approved the updated design of a banknote with a face value of 1,000 rubles. The Meteor motor ship was chosen as the symbol of the banknote. The Bank of Russia has also started developing a new 500-ruble banknote. The Central Bank told Izvestia that they are constantly taking measures to improve the quality, security and durability of Russian banknotes. Why the Central Bank is redesigning and replacing banknote denominations is in the Izvestia article.

How often have the images been changed in the last 25 years

• The Bank of Russia is implementing a set of measures to improve the quality, security and durability of Russian banknotes, the Central Bank's press service told Izvestia. In the early 2000s, the Bank of Russia focused primarily on protecting banknotes. In 2001, the shades of paper changed and the methods of protection improved, but the images of cities and monuments remained the same. Three years later, similar measures affected the 100 and 1000 ruble notes: microtexts, new watermarks and more complex security elements appeared, but the plot basis, approved in 1997, remained unchanged.

• Later updates were more technical. In 2010, the protection was strengthened again, and in 2014, an unusual hundred-ruble banknote dedicated to the Olympic Games in Sochi was released in a limited edition. It was distinguished by its vertical format and original style, but it was not included in the standard money range.

• A radical step was taken in 2017, when new denominations appeared — 200 and 2000 rubles. They depicted modern symbols of the country: Sevastopol, the bridge to Russian Island and the Vostochny cosmodrome. Then, in 2022, the modernization of the entire line began: the hundred-ruble bill was the first to be updated, which featured views of the Kremlin and the Spasskaya Tower, as well as modern panoramas of the capital. The remaining denominations will also be rethought.

Unfriendly atmosphere: ATMs do not accept new five thousand dollar bills

How do sanctions affect this and when will the problem be solved?

Why did they change the images?

• Modern technologies allow fraudsters to produce higher-quality counterfeit banknotes, which is why the Bank of Russia has regularly strengthened its security system by introducing new elements such as sophisticated watermarks, holographic stripes, microtexts, security threads, optical effect images and new printing methods. Each update made counterfeiting more difficult and authentication more accessible to the public.

• Another important reason was the need to update the appearance of money in accordance with economic and social changes in the country. The banknotes have a symbolic meaning, reflecting the cultural and historical heritage of Russia. The choice of images of cities and monuments emphasized the idea of the integrity of the state and its rich history.

Face value changes: how it was in 25 years

• Since the 2000s, small bills have been gradually replaced. Banknotes in denominations of 5 and 10 rubles remained in circulation for some time, but due to high wear, they were replaced by coins of the same denominations. This solution turned out to be practical, since coins last much longer, and it has become economically impractical to print paper analogues. As a result, by the mid-2010s, the ruble range in banknotes began with 50 rubles.

• A significant change in the structure of denominations was the introduction in 2017 of two new banknotes — 200 and 2000 rubles. They appeared after an all-Russian vote, when the population chose cities and objects for new images. The 200-ruble denomination was introduced for convenience of calculations in everyday life, as it became an intermediate link between 100 and 500 rubles, reducing the need for a large number of small bills when paying. The two-thousandth bill, in turn, closed the gap between 1,000 and 5,000 rubles, which greatly simplified calculations for medium and large payments. In 2022, the process of large-scale renewal of the entire line of banknotes began, but the denomination structure remained unchanged. The following items are still in circulation 50, 100, 200, 500, 1000, 2000 and 5,000 rubles.

Why did they change the face value?

• The main reason was the need to adjust the money circulation to the real price level. In the late 1990s and early 2000s, inflation gradually decreased, but the cost of goods and services still increased. If in 1997 the 100-ruble banknote had a significant purchasing power, then after a few years its value decreased noticeably and there was a need for larger bills. Therefore, in 2001, a 5,000-ruble banknote appeared, which allowed people to make large payments without having to carry bundles of money with them.

Interesting cases and disputes

• One of the most notable episodes is related to the introduction of a commemorative 100-ruble banknote for the Sochi Olympics in 2014. The bill had a vertical format, which came as a surprise to many, because all ruble banknotes had previously had a horizontal pattern. This move caused a lively debate: some considered the unusual format to be a successful design decision, while others considered it inconvenient to use and store along with the rest of the money.

• Another interesting moment occurred in 2017, when new denominations came into circulation — 200 and 2000 rubles. Their design was chosen by a nationwide vote: Russians chose the cities and landmarks that would be depicted on the new banknotes. As a result, Sevastopol appeared for 200 rubles, and symbols of the Far East appeared for 2000 rubles. The choice itself has sparked debate: Some regions felt that they had been underestimated.

• During the period when the rejection of paper 5 and 10 rubles took place, many citizens initially perceived the replacement with coins negatively, considering paper money more convenient and familiar. However, over time, it became clear that coins last longer and are more economically profitable for the state.

• A lot of controversy has arisen around large denominations. In the 2000s, the possibility of introducing 10,000 rubles was discussed, but the idea was not implemented. The argument against it was that the appearance of too large bills could symbolize inflationary expectations and undermine confidence in the currency.

• At the same time, the process of issuing a modernized 1,000-ruble banknote was temporarily halted in 2023. The reason was the claims of the Russian Orthodox Church, which expressed dissatisfaction with the image of the temple without a cross. This decision of the designers was explained by the fact that the building now functions as a museum, and not as an active temple. However, this design option has caused widespread discussion and negative reaction from the clergy. The Russian Orthodox Church emphasized that the choice of architectural objects for national banknotes requires more careful attention. As a result, the Meteor motor ship became the symbol of the new banknote.