Monetary reform in the Soviet Union, 1922–24

Soviet chervonets of 1923

The monetary reform in the Soviet Union of 1922-1924 was carried out during the New Economic Policy. It was aimed at the stabilizing of the Soviet currency after an enormous hyperinflation during the Russian Civil War (1917-1922) with its policy of War Communism. The reform replaced all currencies of the time (sovznaks, kerenkas, old imperial money, various bonds, coupons, etc.) by a new one, chervonets, backed by the gold standard.[1]

See also

Footnotes

  1. ↑ Денежные реформы в СССР 1922—1924 годов и 1947 года "Monetary reforms in the USSR of 1922-1924 and 1947" , "Финансовый менеджмент" magazine, 2001, no. 6 (retrieved January 20, 2014) (Russian)


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