Russia's New 5,000 Rouble Notes.

Russia has put a 5,000-rouble banknote back into circulation - but insists that it is to meet the demands of rising real incomes, not inflation. It is the highest denomination note, worth $186 (146 euros; £100).



The note shows a monument to the former governor-general of East Siberia, Nikolai Muravyev-Amurskiy, in the city of Khabarovsk.

The last time Russia had a 5,000-rouble note was in 1998 - the year the rouble crashed in the emerging markets crisis.

The Central Bank said that the current need to have 5,000-rouble notes in circulation was "dictated by cash-flow demands and the growth of average incomes in the country".

The president of the Association of Russian Banks, Garegin Tosunyan, said the highest Russian denomination previously was 1,000 roubles - "worth about 30 euros, but the highest western denominations are 100 dollars, 500 euros, 200 euros".

Russia lifted controls on the rouble on 1 July, making it fully convertible.

The move allowed Russians to open foreign bank accounts and was also aimed at easing restrictions for foreign investors.

Until now, Russians wishing to transfer funds to a foreign account were required to put a quarter of the sum in an account in the Central Bank.

Meanwhile, foreigners transferring money to Russia were required to deposit a "collateral" as a means to protect against speculative capital.