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History of Russian Paper Money

Russian Paper Money. 50 ruble banknote of 1899

Russian Paper Money. 50 ruble banknote of 1899

History of Russian Paper Money. Russian Ruble is the official currency of Russian Federation. It is also used as a medium of exchange in many former soviet republics and one of the world’s oldest currencies. It appeared in 15th century during as called Silver Bum. At the time, Russian coins were made of silver. Soaring demand for silver across continental Europe resulted in growth of value of Russian silver coin to a point when they were no longer useful for purchases. People started splitting coins in halves. Russian word for “split” or “cut” is ‘rubit” and the half coins were called rubles. Even though Russian coins no longer come in halves, the name stuck on.

Russian Paper Money. 50 ruble banknote of 1899

50 ruble banknote of 1899

During the czar rule Russian rubles were one of the worlds highly valued currencies as they were backed by serious stockpiles of gold. During the Bolshevik revolution, most of that gold was shipped out of Russia, so the Soviet ruble’s did not have much value. It did not matter anyway as the Soviet rules kept fixed rate of ruble. In 1993 Russian government has removed price fixing, but it continues to intervene into currency markets to keep the value of ruble at a lower rate than it actually is to stimulate Russian export producers.

3 kopeck Imperial postage stamp

3 kopeck Imperial postage stamp

10 kopeck Imperial postage stamp

10 kopeck Imperial postage stamp

15 kopeck Imperial postage stamp

15 kopeck Imperial postage stamp

20 kopeck Imperial postage stamp

20 kopeck Imperial postage stamp

50 kopeck banknote. Russian Paper Money

50 kopeck banknote of Imperial Russia, equal to silver coin

500 ruble banknote of the 1900s

500 ruble banknote of the 1900s

five ruble banknote of 1909. Russian Paper Money

five ruble banknote of 1909

one ruble of 1898. Russian Paper Money

one ruble of 1898

Ten ruble banknote of 1909. Russian Paper Money

Ten ruble banknote of 1909

three ruble banknote of the end  of XIX century. Russian Paper Money

three ruble banknote of the end of XIX century

three ruble banknote of the end  of XIX century. Russian Paper Money

three ruble banknote of the end of XIX century

twenty-five ruble banknote of 1909

twenty-five ruble banknote of 1909

twenty-five ruble banknote of 1909. Russian Paper Money

twenty-five ruble banknote of 1909

Russian Paper Money

one thousand ruble of 1919

Russian Paper Money

one thousand ruble of 1919

The paper money of the USSR period underwent many emissions and changed its outlook very much. Most of it was printed on white paper and had watermarks, but the format and style of different series varies very much. For example, the 1918-1922 series are quite simplistic, while the 1923 one continues the traditions of the Imperial period. From 1925, the banknotes contained, in addition to the state symbols, pictures of people and their life (the worker and the farmer reading Karl Marx, a seeder, scenes of harvest, etc.). In 1937 for the first time Lenin himself appeared on the notes, and stayed there until 1992.

Russian Paper Money

one Soviet ruble

Russian Paper Money

one Soviet ruble

50 thousand ruble banknote of 1921

50 thousand ruble banknote of 1921

Russian Paper Money

charity banknotes nomination of one, three and five rubles (for constructing houses for orphanes)

Russian Paper Money

five ruble banknote of the Soviet Union, 1938

one ruble of 1938 Soviet Union

one ruble of 1938 Soviet Union

one ruble of 1938 Soviet Union

one ruble of 1938 Soviet Union

five ruble banknote of the Soviet Union, 1947

five ruble banknote of the Soviet Union, 1947

three chervonets banknote

three chervonets banknote

three ruble banknote of the Soviet Union, 1947

three ruble banknote of the Soviet Union, 1947

fifty ruble banknote of the Soviet Union, 1961

fifty ruble banknote of the Soviet Union, 1961

five ruble banknote of the Soviet Union, 1961

five ruble banknote of the Soviet Union, 1961

one hundred ruble banknote of the Soviet Union, 1961

one hundred ruble banknote of the Soviet Union, 1961

three ruble banknote of the Soviet Union, 1961

three ruble banknote of the Soviet Union, 1961

one ruble banknote of the Soviet Union, 1961

one ruble banknote of the Soviet Union, 1961

ten ruble banknote of the Soviet Union, 1961

ten ruble banknote of the Soviet Union, 1961

three ruble banknote of the Soviet Union, 1961

three ruble banknote of the Soviet Union, 1961

twenty-five ruble banknote of the Soviet Union, 1961

twenty-five ruble banknote of the Soviet Union, 1961

five ruble banknote of the Soviet Union, 1991

five ruble banknote of the Soviet Union, 1991

one hundred thousand ruble of Soviet Russia

one hundred thousand ruble of Soviet Russia

one thousand ruble banknote of the Soviet Union, 1991

one thousand ruble banknote of the Soviet Union, 1991

ten ruble banknote of the Soviet Union, 1991

ten ruble banknote of the Soviet Union, 1991

three ruble banknote of the Soviet Union, 1991

three ruble banknote of the Soviet Union, 1991

three ruble banknote of the Soviet Union, 1991

three ruble banknote of the Soviet Union, 1991

10 thousand rubles of perestroika time, 1992, bank of Russia

10 thousand rubles of perestroika time, 1992, bank of Russia

five thousand rubles of perestroika time, 1992, bank of Russia

five thousand rubles of perestroika time, 1992, bank of Russia

Democratic revolution of 1991 led to abandonment of price fixing. “The shock therapy” resulted in immediate plunge of national currency as former soviet republics continued to print Russian rubles and exchange them for Russian goods creating inflation in Russia and devaluing its currency. Inflation was as high as 1000% per year! By mid 90s Russian authorities announced that they would no longer allow now formally independent countries to print Russian national currency. Russian ruble grew steadily until 1998 when the Asian financial crisis moved on to Russia. Value of ruble dropped four times overnight and has not changed ever since.

five thousand rubles of perestroika time, 1992, bank of Russia

five thousand rubles of perestroika time, 1992, bank of Russia

Russian money of the new epoch (after 1992) differ from the previous series by the disappearance of the Lenin portraits (which lasted 55 years). In 1992 another revolution happened in Russia, the single-party system was replaced by a democratic system. The money started baring pictures of cities. Until 1993 it was Moscow, and starting with 1995 more (Saint-Petersburg, Vladivostok, Novgorod, Krasnoyarsk, Yaroslavl and Archangelsk). During the devaluation of 1998 the value of the notes lost three zeros, but the note design remained the same.

five hundred rubles of perestroika time, 1993, bank of Russia

five hundred rubles of perestroika time, 1993, bank of Russia

five thousand rubles of perestroika time, 1993, bank of Russia

five thousand rubles of perestroika time, 1993, bank of Russia

one hundred rubles of perestroika time, 1993, bank of Russia

one hundred rubles of perestroika time, 1993, bank of Russia

one thousand rubles of perestroika time, 1993, bank of Russia

one thousand rubles of perestroika time, 1993, bank of Russia

two hundred rubles of perestroika time, 1993, bank of Russia

two hundred rubles of perestroika time, 1993, bank of Russia

five hundred thousand Russian ruble banknote of 1995

five hundred thousand Russian ruble banknote of 1995

five thousand Russian ruble banknote of 1995

five thousand Russian ruble banknote of 1995

five hundred thousand Russian ruble banknote of 1995

five hundred thousand Russian ruble banknote of 1995

one thousand Russian ruble banknote of 1995

one thousand Russian ruble banknote of 1995

ten thousand Russian ruble banknote of 1995

ten thousand Russian ruble banknote of 1995

Russian Money in circulation at the moment:

ten ruble banknote of Russia, 1997

ten ruble banknote of Russia, 1997

ten ruble banknote of Russia, 1997

ten ruble banknote of Russia, 1997

fifty ruble banknote of Russia, 1997

fifty ruble banknote of Russia, 1997

fifty ruble banknote of Russia, 1997

fifty ruble banknote of Russia, 1997

five hundred ruble banknote of Russia, 1997

five hundred ruble banknote of Russia, 1997

five ruble banknote of Russia, 1997

five ruble banknote of Russia, 1997

five thousand ruble banknote of Russia, 1997

five thousand ruble banknote of Russia, 1997

five thousand rubles banknote

five thousand rubles banknote

one hundred ruble banknote of Russia, 1997

one hundred ruble banknote of Russia, 1997

one hundred ruble banknote of Russia, 1997

one hundred ruble banknote of Russia, 1997

one thousand ruble banknote of Russia, 1997

one thousand ruble banknote of Russia, 1997

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