Bank of Russia's 'Coin Week' Helps Khabarovsk Krai Residents Manage Spare Change
Residents of Khabarovsk Krai are benefiting from the Bank of Russia's annual 'Coin Week' event, running from October 1 to 4. This initiative allows locals to exchange spare coins for banknotes or deposit them directly into their bank accounts, all free of charge.
Governor of the Bank of Russia, Elvira Nabiullina, is overseeing this year's event. During 'Coin Week', residents can avoid the usual 3% commission fee that banks like PNC Bank or Coinbase may charge for exchanging coins.
Last April, the event proved successful, with over 51 million coins, totalling 242 million rubles, being reintroduced into circulation. This year, the Bank of Russia aims to repeat and potentially surpass this achievement.
The 'Coin Week' event provides a convenient opportunity for Khabarovsk Krai residents to manage their spare change. By participating, they help reduce the volume of coins in circulation, making cash transactions more efficient. The event also offers a free service, saving residents the usual commission fee that they might incur at a US bank.
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