New 100-ruble banknotes would be able to replace previous versions within a decade, Deputy Governor of the Bank of Russia Sergey Belov said during a presentation for the new paper currency at TASS.
“The banknotes will appear in circulation gradually, step by step displacing the previous-styled notes since they are exposed to natural wear and tear. When speaking about how much time it would take, I believe this will occur in about a decade,” Belov specified.
The deadline for the banknote to be released into circulation will depend on how fast the banks will usher in the relevant equipment, the Central Bank official said. “We cannot point to an exact date right now. Everything will depend on how quickly our banks will get settled in with the equipment. As for us, as I have said, we will undertake all efforts, and closely monitor this process. In addition, we will help our vendors and equipment manufacturers,” Belov emphasized.
The amount of 100-ruble bills currently circulating is about 17% of all notes or more than 1 bln banknotes, he added.
