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History of the ruble Background The ruble (or ruble) has been a currency in Russia for 500 years. It is believed that the name "ruble" comes from Russian for "grinding", "stuffing box", literally referring to how the section was cut off by a silver ingot, a case that was the very first incarnation of the currency, information tablets with each section, different meaning from its weight. There is no official ruble symbol, although over the years many options have been offered, including a “P” with two horizontal stripes. However, the abbreviation '???' often used in writing. In 1710, the ruble was first divided into pennies, 100 of which amounted to the ruble. Ten rubles are sometimes referred to as “chervonets”, referring to the Soviet gold chervonets, issued in 1923, which were equivalent in value. Redenominations Because of various radical changes in the value of a currency, there were seven different embodiments of the ruble, the most recent being released in 1998. The FIRST ruble was in place for more than 200 years until 1921, when it fell sharply in value. The SECOND ruble was the first in a series of repeated trades, replacing the "new" ruble by 10,000 "old" rubles. They were introduced in 1922. A year later, there was a quick re-nominee, evaluating the new ruble from 1 to 100 previous rubles. It was the THIRD ruble. In 1924, the FOURTH Ruble was introduced, known as the “golden ruble”, which lasted until 1947. This figure was estimated at 50,000 dollars of the previous issue of the ruble. After World War II, the government tried to reduce the amount of money in circulation by imposing a confiscatory review on paper money, which valued the new ruble by one-tenth of the value of the fourth ruble. From 1961 to 1997, the SIXTH ruble was in circulation, and the revaluation was based on the same conditions as the 1947 reappraisal. After the fall of the Soviet Union in 1991, the ruble remained the currency of the Russian Federation. In the early 1990s, there was a period of high inflation, which meant that the currency had dropped significantly. In January 1998, the seventh ruble was introduced. It was valued at 1000 previous rubles in what was just a psychological step. Later that year, the ruble lost 70% of its value against the US dollar in just six months after the 1998 financial crisis in Russia. Ruble coins In the 18th century, lower prices were made of copper, such as half kopecks or one kopeck, and silver - five kopecks to 50 kopecks and one ruble coin. Five ruble coins were originally made of gold. After the civil war in Russia, silver was used for lower-value coins with gold hearts issued in 1923. In 1961, new materials were introduced, such as aluminum bronze, along with copper-nickel zinc. In 1991, more modern methods were used, combining several types of metals with the formation of new bimetallic coins in denominations, including ten rubles. New coins were issued again after the fall of the Soviet Union in 1991. Banknotes Between 1769 and 1917 there were only issued imperial banknotes or “assignates”. After 1917, the provisional government issued banknotes, called Kerenki. Shortly thereafter, in 1918 state credit notes were issued to the RSFSR, and the following year - banknotes
1. Russian rouble has a long history.
2. Several centuries ago one of the tsars introduced rouble as Russian currency.
3. In old times only merchants used roubles.
4. The symbol of the rouble is double ‘P’.
5. In the 18th century rouble was divided into kopeks.