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Soviet ruble

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	Topics Soviet ruble Topic Home Etymology The word "ruble" is derived from the Slavic verb ??????, rubit, i.e., to chop. Historically, "ruble" was a piece of a certain weight chopped off a silverSilver Silver is a chemical element with the symbol Ag .... ingotIngot * Ductile iron* Grey iron ... , hence the name. Historical Soviet rubles Second Soviet ruble, January 1, 1922 - December 31, 1922 In 1922, the first of several redenominations took place, at a rate of 1 "new" ruble for 10,000 "old" rubles. The chervonets (????????) was also introduced in 1922. Third Soviet ruble, January 1, 1923 - March 6 ,1924 A second redenomination took place in 1923, at a rate of 100 to 1. Again, only paper money was issued. During the lifetime of this currency, the first money of the Soviet UnionSoviet Union The Union of Soviet Socialist Republics , more commonly known as the Soviet Union, was a Communist state that existed... was issued. Fourth (Gold) Soviet ruble, March 7, 1924 - 1947 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. Coins began to be issued again in 1924, whilst paper money was issued in rubles for values below 10 rubles and in chervonets for higher denominations. Fifth Soviet ruble, 1947 - 1961 Following World War IIWorld War II World War II, or the Second World War, was a worldwide conflict fought between the Allied Powers and the Axis Powers ,... , the Soviet government implemented a confiscatory redenomination of the currency to reduce the amount of money in circulation. This only affected the paper money. Old rubles were revalued at one tenth of their face value. Sixth Soviet ruble, 1961 - 1991 The 1961 redenomination was a repeat of the 1947 reform, with the same terms applying. The Soviet ruble of 1961 was formally equal to 0.987412 gram of goldGold Gold is a highly sought-after precious metal that for many centuries has been used as money, a store of value and in jewelry... , but the exchange for gold was never available to the general public. This ruble maintained parity with the Pound SterlingPound sterling The pound, divided into 100 pence, is the official currency of the United Kingdom and the Crown Dependencies.... until the breakup of the Soviet Union in 1991 when the rubleRussian ruble The ruble or rouble is the name of the currency of the Russian Federation and the two self-proclaimed republics, Abkha... became the new currency of the Russian Federation.