Russia's Central Bank to replace 10-ruble notes with coins

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PERM, October 31 (RIA Novosti) - Russia's Central Bank intends to replace all ten-ruble banknotes with coins, the bank's first deputy chairman said Tuesday.

Georgy Luntovsky said the issue of ten-ruble notes is being gradually reduced.

"Coins serve longer than banknotes," he said.

The CBR official said coins can circulate for 10-15 years, while ten and fifty ruble notes have a lifetime of only six-seven months.

He said the share of 500 and 1,000-ruble notes will be also reduced following the issue of the 5,000-ruble notes.

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