Russia’s Central Bank has started coating 100-ruble banknotes in a special varnish, Deputy Director of the Bank’s Cash Circulation Department Vladimir Demidenko said in an interview with Rossiyskaya Gazeta newspaper.
According to the Invest Foresight business magazine’s expert, along with increasing durability, the move will also provide a greater protection from counterfeiting banknotes. Yet, this is “economically unreasonable”, believes Viktor Shpringel, Associate Professor at the Department of Banking, National Research University Higher School of Economics.
“In my opinion, counterfeiting notes in denominations below RUR 1000 and RUR 5000 is economically unbeneficial as this requires considerable expenses and poses great risk for those criminals who are going to engage in such illegal activities. In this particular case, the Central Bank rather aims at increasing the durability of widely used 100-ruble banknotes”, the expert said in his comment to Invest Foresight.
In his interview with Rossiyskaya Gazeta, Vladimir Demidenko also said the technology of special varnish coating will be used for 50-ruble banknotes as well; it has been tested on 200-ruble notes for over a year and has shown impressive results: new banknotes proved to be more durable.