I found that odd also, as a denomination IS a KEY on currency! But Tatarstan declacred its independance in 1990 and these were the first currency issued and all notes were 100 Rubles. Strangely enough they later issued more currency in 1993, 94 and 95 and those too have no denomination (200, 500, & 1000 Rubles), but the design is different on each.

To me it looks like a note an amature would produce with a computer graphics program. Surely improvements will be forth coming.