The Central Bank told about the development of an updated design of the 500-ruble banknote.

The Central Bank of Russia (CBR) has started developing an updated design of the 500-ruble banknote. This was announced on April 4 by Sergey Belov, Deputy chairman of the regulator.

"The work is underway, the artists of Goznak and the Bank of Russia have already developed sketches of this banknote. The final decision should be made by the Board of Directors of the Bank of Russia. We plan to present the banknote by the end of the year," Belov said in an interview with Interfax.

Belov also said that in 2026, the design of banknotes in denominations of 10 and 50 rubles will begin. According to him, the release dates of the upgraded banknotes were shifted due to the fact that the symbol selection procedure was made open.

"This happened due to the fact that we changed our approach to the development of banknotes, making the symbol selection procedure more open. We plan to release them before 2028," said the deputy chairman.

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Earlier, on February 7, the Central Bank of Russia explained the reason for the return to use in 2022 of paper banknotes in denominations of 5 and 10 rubles along with coins. The regulator's press service said that the population became more willing to use paper money after its quality improved. At the end of 2025, the Bank of Russia also plans to introduce an updated 1,000-ruble banknote, the press service said.