Will Cash Disappear in Russia? Opinion of the Former Central Bank Head

According to him, despite the active development of digital technologies and electronic payments, completely abandoning paper bills will not be possible. In an interview with RTVI, Dubinin emphasized that there will always be a category of citizens and businesses that prefer to pay in cash, including to avoid taxation. He estimated this share at approximately 5-10% of the total volume of transactions.

"I don’t think that in Russia, as in any other market economy, all participants in transactions will prefer cashless payments. There will always remain some percentage, perhaps within 5-10%, of those who will prefer cash settlements," the expert clarified.

At the same time, Dubinin noted that large financial transactions will most likely continue to be conducted in non-cash form. As for digital currencies, the former head of the Central Bank anticipates their integration into the existing electronic money system, which will make them more accessible and convenient for users.