Russia's “Coin Week” Begins October 26: Free Coin Exchange at Bank Branches Nationwide Until November 7
On October 26, Russia's annual “Coin Week” officially began; participating bank branches across the country will accept coin exchanges, and the campaign runs until November 7. During the campaign, residents can take coins accumulated at home to participating banks and shops and exchange them free of charge for banknotes, or have the equivalent amount paid into an account or deposit, with no handling fee charged for the exchange. The campaign is organised by the Bank of Russia, with Russia's major banks taking part. Promsvyazbank said anyone can exchange accumulated coins at its branches for banknotes issued by the Bank of Russia, or choose to have the equivalent amount transferred into an account or deposit. Coins in circulation often settle in household piggy banks, which both increases the central bank's minting costs and causes shortages of coins in circulation; “Coin Week” was created precisely to solve this problem: by collecting coins in a concentrated way, it puts them back into circulation and reduces the need to mint new coins. For ordinary residents, this is a good opportunity to clear out small change at home, especially for families with large amounts of small-denomination coins. However, it is best to sort coins by denomination before exchanging, and some branches may have practical arrangements for the quantity exchanged at one time, so calling ahead can save queuing time. In recent years, with the spread of electronic payments, the frequency of coin use has declined, but cash transactions still account for an important share in many parts of Russia, and the efficiency of coin circulation remains a topic of concern for the central bank.
Source: GSM · USA (original Chinese edition)
Photo: 俄罗斯5卢布硬币（资料图）。摄影：The original uploader was Fallschirmjäger at English Wikipedia.，Public domain，取自 Wikimedia Commons。Photo: Russian 5-ruble coin (file photo). Credit: The original uploader was Fallschirmjäger at English Wikipedia., Public domain, via Wikimedia Commons.
