Russia Has Started Varnishing 100-Ruble Notes

12 Aug 2019  Mon

The Central Bank of Russia has started applying varnish on their 100-ruble notes during the printing process. Experts claim that this procedure would immensely reduce the extent of degradation which will invariably bring down the printing costs for producing replacement notes.

Various types of varnishes were being tested on banknotes in trial batches from 2016. Circulation statistics are also being analysed by tracking the banknotes with their serial numbers. Special machines were used to check the durability of banknotes and choose the best varnish.

Officials state that the profits earned by varnishing banknotes and increasing their durability are much higher than the costs incurred during the testing process. 1/3rd of the 100-ruble notes in circulation would be varnished as per the new plan implemented by the Central Bank. The same procedure would be soon applied for 50-ruble notes as well.

Image Courtesy: The Central Bank of Russia

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