This hasn’t happened since the dashing 90s: Nabiullina asks Russians to prepare for the emergence of a new currency

When will the transition take place?

The Central Bank of Russia (CBRF) considers the introduction of the digital ruble as a strategic task of national importance. The head of the Central Bank, Elvira Nabiullina, outlined the regulator’s ambitious, but at the same time, balanced plans on this issue.

According to Nabiullina’s forecasts, a complete transition to a digital ruble and its mass adoption by the population could take from 5 to 7 years. However, the real picture of the significant spread of the new form of national currency will become clear only by 2025. The head of the Central Bank especially emphasized that this process should occur gradually and taking into account the interests of all participants in the financial market - both citizens and businesses.