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The emergence in Russia of new banknotes cause a lack of delivery in stores

In the wallets of Russians will be for two bills more. October 12-entered into circulation banknotes of 200 and 2000 rubles, said the Bank of Russia. The first banknotes will receive the capital and regions, attractions of which are shown, that is, the Sevastopol and the far East.

The rest of the population will be able to pay the new money only in December. As explained in the Central Bank, the staged introduction of bills needed to counter the counterfeiters. However, the Russians are now concerned about several other issues. In particular, as the issue of new banknotes will affect inflation? Also, not related to the upcoming presidential elections? Maybe the way the government is trying to “fill” the pockets of the Russians and at the same time to shut them up?


Photo: AGN Moscow

In recent times, the Central Bank launched the new money in 2009. Then came a ten-dollar coin. And now, after eight years, the regulator has pleased our fellow citizens from the two new products.

However, will the new bills in the hands far from all Russians. As stated by the Chairman of the Bank of Russia Elvira Nabiullina, the bills will spread to the whole of Russia only in December. The regulator will introduce them gradually, as banknotes are being developed in strict secrecy. “It is international practice, so traditionally there is a Bank of Russia, and it is necessary to counter the counterfeiters”, — said the head of the Central Bank.

In addition, Nabiullina assured that the issue of banknotes on inflation will not be affected. The fact that the Central Bank holds no bonds, and only updates the paper money in circulation. In other words, simultaneously with the introduction of banknotes in denominations of 200 and 2,000 rubles will decrease the number of banknotes of 100 and 1000. “The new banknotes will be printed not in addition to the current, and instead of them. That is, the amount of money supply will remain the same,” — says “MK”, first Deputy Director of the Institute of contemporary economy Ivan Antropov.

According to experts, the price increase is now limited to weak demand for goods and services from the population. “Now we have the situation that even with a permanent formal wage growth real disposable income of the population — and these are free money that can be spent, is steadily declining due to the growth of mandatory payments. The introduction of new bills will not increase wages, and thus demand will remain roughly at the same level”, — says the economist.

According to him, there probably is a matter of convenience of calculations and psychology. Maybe someone will be nicer to hold larger bills getting paid. Besides a trifle difficult to pay, and Bank transfers in our country is not so popular.

In connection with the printing of new money, some experts have expressed concern about the fact that Russia will increase the money supply (so-called M2). In the second quarter of 2017 it amounts to 39.2 trillion rubles, of which about 9 trillion in cash flow.

“We have a very large amount of cash turnover, unfortunately, we are slowly moving on without beginning payments with Bank cards”, — said the Professor of Financial University under the government of the Russian Federation Boris Kheyfets. At the same time, the expert does not believe that the mass of “stuffing” of new money could trigger an acceleration of inflation. “In relation to the GDP the money supply is not very substantial. Now we are talking about diversity of supply, and inflation can impact the money issue. We need to look at the dynamics of M2: if it is set to increase dramatically and will not be sufficient mechanisms to neutralize the money supply, then there is the threat of accelerating inflation,” says the Professor.

At the same time, the emergence of new denominations primarily will cost the banks, who will have to change the ATM software. By the way, as said Nabiullina, 12 Oct ATMs and POS equipment that was tested on the samples will be configured to use “live” of the new banknotes.

However, as experts warn, the first time it was in the stores, the Russians will feel some inconvenience from the use of innovations. According to the head of the Committee on development of the investment environment for business, the city of TPP Anna Vovk, most likely, the population will face a shortage of banknotes of 100 and 1000. “The careless introduction of new bills may lead to a shortage of old banknotes of 100 and 1000 rubles and problems with delivery date,” warns the expert.

But, on the other hand, it will encourage the population to make greater use of cashless payments. “Of course, the state will be in positive territory — all expenses will be under control. In addition, it will be able to save money as emissions costly. Another thing is that the moment chosen is not entirely successful. The country is large, and yet not all have the ability to pay by credit cards,” — said Vovk.

Therefore, according to experts, the authorities first need to establish a banking infrastructure. And then the population itself will willingly start to give up cash, which now often are they under the mattress like dead weight.

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