Russia not planning to introduce polymer banknotes

General Director Arkady Trachuk of Goznak (the Russian banknote printer) has stated in an interview that Russia won't be introducing polymer banknotes in Russia. "In the near future, I think, we are not going to surprise you with something radically new. We are not planning either a 3,000-ruble note, or plastic money," he said.

Surprisingly he also stated: "From the point of view of duration, price and quality, paper money is usually more effective than plastic money." I think not everyone will agree with him on this, apart from the price argument. The next statement seems to provide a more convincing argument for the Russians: "And given the problems of the disposal of plastic money and the fact that there is only one company in the world that manufactures the substrate, on which one can print these notes, the story turns out to be not so interesting at all." He also mentioned that polymer notes seem to be more suitable for countries with a humid climate.

Steven Wednesday 02 July 2014 at 08:30 am | | news
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