Derbent fortress, Elbrus or "Grozny City": Russians will choose symbols for the new 500-ruble Banknote
A meeting of the Advisory Council on Banknotes of the Bank of Russia was held at the National Centre RUSSIA. The experts discussed the symbols for the 500-ruble banknote, which is dedicated to the North Caucasus Federal District and the city of Pyatigorsk. The Council members also determined the final list of objects for the online popular vote, which will start on 1 October.
The Advisory Council on Banknotes is organized in order to provide a comprehensive expert assessment of the sights which can be depicted on banknotes, taking into account their cultural and historical value, recognition and popularity. Last November, the symbols for the reverse side of a new 1,000-ruble banknote dedicated to the Volga Federal District were discussed at the National Centre RUSSIA.
"Banknotes must be upgraded after a certain period of time, not only to make them look modern, but also to ensure that their level of protection against counterfeiting does not decrease. And the methods of protection are constantly being improved," Elvira Nabiullina, Governor of the Central Bank of Russia, explained.
Despite the cashless and digital payments development, banknotes remain the hallmark of the ruble, Elvira Nabiullina noted. Therefore, according to her, the Central Bank makes the choice of these symbols responsibly.
"The 500-ruble banknote will be dedicated to the North Caucasus Federal District and its centre, Pyatigorsk. These are amazingly beautiful places, a crossroads of cultures, which are rich in history. We asked the experts of the regional working group to compile a list of recognizable symbols that could decorate the banknote. They pre-selected six symbols of Pyatigorsk and 16 symbols from all regions of the North Caucasus Federal District," Elvira Nabiullina said.
Among the options for the front and reverse sides of the 500-ruble banknote are the eagle sculpture in Pyatigorsk, the "Grozny City" skyscraper complex in Grozny, the Elbrus, Mashuk and Beshtau Mountains, the Derbent Fortress, the Chirkey hydroelectric power plant, the largest altazimuth telescope in Eurasia in Arkhyz, the Dombay ski resort, and other objects.
"It is no coincidence that the discussion of the 500-ruble banknote is taking place at the National Centre RUSSIA. Last November, we discussed new symbols for the 1000-ruble banknote here. At that time, 25 objects of the Volga Federal District were selected. A presentation of a 1,000-ruble banknote is planned to be held soon. We propose to hold it here, at the National Centre," Natalia Virtuozova, Director General of the National Centre RUSSIA, said.
The experts presented different approaches and voiced arguments when choosing the sights. They took into account not only the importance of each symbol itself, but also how the two images — on the front and reverse — would interact with each other.
"I have two favorites: the Lermontov Gallery, which was built as a place for having mineral waters, is suitable for the front side of the banknote, as the Caucasus is about, primarily, the mineral waters. And for the reverse side, I suggest Mount Elbrus. It has a very distinctive silhouette and it is very difficult to confuse it with anything else. Another option is the Vovnushki and Erzi tower complexes in Ingushetia," Yelizaveta Likhacheva, art critic and architectural historian, explained.
The popular vote, supported by the National Centre RUSSIA, will start on 1 October at 10:00 Moscow time, and will end on 14 October at 12:00. The voting process will be monitored in real time. The new banknote is expected to be introduced in the second half of 2026.
