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USRR, Russian Altmishlik; Beshlik; Chervonetz; Denezhka; Denga; Dolya;
Ducat; Ikilik; Ischal; Kopeck; Kopek; Kyrmis; Para; Piastre; Poltina;
Polupoltinnik; Polushka; Pul; Rouble; Tilla; Tynf; Yefimok; Yirmilik; Zlotych;
Zolotniks
The ruble or rouble is the currency of the Russian Federation and the
two self-proclaimed republics of Abkhazia and South Ossetia. Formerly,
the ruble was also the currency of the Soviet Union and the Russian
Empire prior to their breakups. The ruble is subdivided into 100 kopecks
The ruble has been the Russian unit of currency for about 500 years.
One ruble is divided into 100 kopeks, kopecks, or copecks
The Soviet currency had its own name in all languages of the Soviet
Union, sometimes quite different from its Russian designation. All
banknotes had the currency name and their nominal printed in the
languages of every Soviet Republic.
The first ruble issued for the Socialist government was still based on
the previous issue of the ruble They are all in banknote form and
started their issue in 1919 as follows: 1, 2, 3, 5, 10, 15, 25, 50, 60,
100, 250, 500, 1,000, 5,000, 10,000, 25,000, 50,000, 100,000. Short term
treasury certificate were also issued to supplement banknote issue in 1
million, 5 million, 10 million rubles.
With the outbreak of the First World War, the gold standard peg was
dropped and the ruble fell in value, suffering from hyperinflation in
the early 1920s.
In 1922, the first of several redenominations took place, at a rate of 1
"new" ruble for 10,000 "old" rubles.
A second redenomination took place in 1923, at a rate of 100 to 1.
Again, only paper money was issued.
A third redenomination in 1924 introduced the "gold" ruble at a value of
50,000 rubles of the previous issue. This reform also saw the ruble
linked to the chervonets, at a value of 10 rubles.
Following World War II, the Soviet government implemented a confiscatory
redenomination of the currency to reduce the amount of money in
circulation. This only affected the paper money.
.The 1961 redenomination was a repeat of the 1947 reform, with the same
terms applying. This ruble maintained parity with the Pound Sterling
until the breakup of the Soviet Union in 1991 when the ruble became the
new currency of the Russian Federation. |
