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The first ruble issued for the Soviet government was a preliminary issue still based on the previous issue of the ruble prior to the Russian Revolution of 1917. They are all in banknote form and started their issue in 1919. At this time other issues were made by the white Russian government and other governing bodies.
The silver ruble was used until 1897 and the gold ruble was used until 1917. The Soviet ruble officially replaced the imperial ruble in 1922 and continued to be used until 1993, when it was formally replaced with the Russian ruble in the Russian Federation and by other currencies in other post-Soviet states.
According to one estimate, that of P. Popov of the Central Statistical Bureau of Soviet Russia, by 1920 the total production of Russian industry had fallen from a pre-war level of 6.059 billion [note 1] gold rubles to the equivalent of just 836 million — a decline of more than 85%. [10]
The ruble has tumbled 9% against the dollar since Nov. 21, when the U.S. sanctioned some 50 Russian banks, including Gazprombank, which has emerged as a top linchpin for Russia in currency markets.
Russian President Vladimir Putin needs to intervene to prop up his currency, after the ruble fell to a low not seen since March 2022, at the very beginning of his war against Ukraine.
The ruble trouble started shortly after Russia invaded Ukraine last February, which prompting a slew of Western sanctions ultimately resulting in an all-time low of 120 rubles against the U.S ...
The ruble has been used in the Russian territories since the 14th century, [2] and is the second-oldest currency still in circulation, behind sterling. [3] Initially an uncoined unit of account, the ruble became a circulating coin in 1704 just before the establishment of the Russian Empire.
Original - Five hundred Imperial Russian rubles of 1912 (the nation's largest denomination until 1917), featuring Peter the Great upon contemporary engraved portrait by Jacobus Houbraken. Reason Ornate hi-res image and one of the finest Commons currencies imho. Articles in which this image appears Russian ruble Creator State Bank of the Russian ...