Russian ruble — Muscovite, Imperial, Soviet and Russian account continuity

The story

The ruble’s history begins before Peter the Great’s silver coins. The reform of 1535–1538 standardized an inherited monetary system in which the ruble represented 100 kopecks. Peter’s reforms around 1698–1704 gave coin forms to existing accounting denominations rather than inventing the ruble. ^{[1] [2]}

The ruble moved onto a gold standard in 1897. Soviet reforms in 1922–1924 then changed the scale of paper money. In 1947 cash exchanged at ten to one, while deposits and government loans followed separate rules. Another ten-to-one rescaling followed in 1961. ^{[4] [5] [6] [7] [8] [9] [10]}

Russia redenominated in 1998 at 1,000 old rubles for one new ruble. January 1, 1999 marks the end of old-scale cash payment eligibility, not the start of the redenomination. The two dates describe different stages of the same transition. ^{[3] [11] [12]}