Cash Circulation Department
The Cash Circulation Department develops and implements the Bank of Russia’s policy in the area of currency (banknote and coin) issuance and organisation of cash circulation in the Russian Federation. The objective of this policy is to ensure the timely and uninterrupted supply of banknotes and coins for payment transactions.
To this end, the Department analyses the current state of the payment turnover, forecasts the economy’s demand for cash, plans and ensures the issue of banknotes and coins, organises their supply to destinations where they are delivered to Bank of Russia clients, arranges their processing and safekeeping, as well as withdraws damaged banknotes and coins from circulation and destroys them.
Cash circulation is organised taking into account the overall economic situation, the economic development of regions, households’ incomes and expenses, retail turnover amounts, the maturity of the network of credit institutions and transport infrastructure.
For the purpose of organising cash circulation, the Department develops the procedure for cash issuance operations and banknote and coin transportation and safekeeping at the Bank of Russia units, the procedure for conducting cash transactions, and the rules for cash safekeeping, transportation and collection for credit institutions and other entities.
A key area in the Department’s work is combating money counterfeiting. The Department develops and deploys technical solutions enhancing currency protection against counterfeiting, and implements regular measures aimed at detecting counterfeit currency units and removing them from circulation.
As part of the Bank of Russia’s efforts to promote financial literacy, the Department carries out awareness-raising work on how to identify the authenticity and purchasing power of the currency units of the Bank of Russia and of foreign currencies, and publishes information materials in printed and electronic mass media. Moreover, the Department’s representatives give their comments on these issues on radio and TV.
The Department is in charge of the production and distribution of investment and commemorative precious metal coins, including abroad. The issuance of such coins provides another instrument for individuals to manage their personal savings, and the exquisite design of these coins enhances the Bank of Russia’s image among Russian and foreign collectors.