The head of the Financial Market Committee of the State Duma, Anatoly Aksakov, admitted that the production of ruble coins in Russia may be stopped. The deputy stated that it is worth thinking about the viability of minting them due to the low demand.
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“At this time the population does not have much demand for trifles. I see that many people do not even accept change when they are given change. Therefore, it is worth considering whether it is worth producing something that people do not need,” Aksakov said, according to RIA.
In March 2023, the Bank of Russia announced that it had resumed printing 5 and 10 ruble banknotes. The Central Bank explained the decision by saying that printing coins had become more profitable than minting coins of that denomination.
Anatoly Aksakov added that he agrees with the Central Bank’s decision to save on money production. At the same time, the deputy stressed that the possible cessation of coin minting will not be associated with a devaluation or other important changes.
In addition, the head of the financial market committee noted that there should be a 1 ruble coin or bill in circulation, since the ruble is the national currency.
Author:
Akhmed Sadulayev
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
