Russians More Often Refuse Using Coins

Residents of Russia use coins less every day, including the largest at face value, 10 rubles, Izvestia reported with reference to the data provided by the Central Bank of Russia. As of the end of 2019, 67.8 billion coins of various denominations were in circulation, which is 0.9 billion more than the previous year. 

In 2020, the release of coins increased by 362 million pieces. It is specified that the bank had to increase emission since some of the coins are deposited in the piggy banks of Russians every year or are simply lost.

According to the chief economist of the Expert RA agency, Anton Tabakh, the reluctance of Russians to actively use coins in calculations is due to their low purchasing power, as even for 10 rubles there is simply nothing to buy.

The associate professor of the Department of Finance and Prices at the Plekhanov Russian University of Economics, Elena Voronkova, also noted that it is quite inconvenient for the country residents to use coins. She said that it is difficult to carry them with you.

Ru-Main, 14.08.2020 

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