MOSCOW, April 10. /TASS/. Bank of Russia Governor Elvira Nabiullina has refuted rumors that pensions are to be paid exclusively in digital rubles as well as speculation on the wholesale substitution of digital currency for cash.

"Quite a lot of various rumors regarding the digital ruble have surfaced lately, for example, that it will take the place of cash or that pensions will be paid in digital rubles only. This is an absolute falsehood. The digital ruble will neither cancel nor replace anything; it is complementary. It is yet one more method of payment," Nabiullina said.

The Bank of Russia will continue to promote monetary circulation in both cash and non-cash forms, she stressed.

Russia’s central bank unveiled the digital ruble concept in mid-October 2020. The digital ruble would represent a third form of money, in addition to cash and electronic funds, and will take the form of a unique digital code to be kept in a special e-wallet. It will pass from one user to another as a digital code transmission from one e-wallet to another.