MOSCOW, 10 Jul – RIA Novosti. Informationas the head of the analytical center “Alpari” Alexander Razuvaev came up with the idea of holding a denomination of the Russian currency in 100 times, according to “Vedomosti”.
Earlier, the Central Bank said that the volume of cash in circulation reached a record value 12.42 trillion rubles. According to the regulator, last month, this amount increased by 3.5 percent.
According to Razuvaev, the denomination will return into circulation on the penny and the dollar will be in the region of 70 cents. The expert believes that this will help to strengthen the credibility of the Russian currency.
The growth of the money supply in circulation, he explained the payment of unofficial wages, which get some Russians.
Earlier, in comments to Radio Sputnik Razuvaev noted that the denomination, as a rule, carried out at low inflation. He noted that in Russia this figure is now 3% and a key rate of 4.5 percent.
Director of the Institute of Economics of the Russian Academy of Sciences Ruslan Grinberg in NSN comments opposed the proposal Razuvaev. He believes that the denomination may cause panic among the population, since these measures are often taken in conditions of a sharp currency depreciation.
Not found response offer Razuvaev and financial expert Anton Shabanov.
“Denomination to nothing lead. We have, for example, now there is 50 rubles, cut off two zeros — will be 50 cents. We already went through this in the dashing 90-s, when just changing price tags. Was the price tags with the “long” zeros. And there was a price tag with “less” zeros. Nothing in this terrible there was. Denomination usually occurs after the hyperinflation, which was also in Russia to trim the extra zeros. Now hyperinflation is not, so it makes no sense in the denomination” — quoted Shabanova “Evening Moscow”.
He stressed that the growth of cash in circulation – not only Russian, but global trait against the background of the pandemic.
Against the denomination also made and chief economist of “Alfa-Bank” Natalia Orlova. In comments to RNS, she noted that any monetary reform creates stress for the population. Orlova added that the denomination also have a negative impact on the inflation targeting.