Country and Pick Number: Russia; Pick P 38
First year of issue: 1917
Denomination and currency: 20 RUBLES
Issue type : circulated
Name of Issuer / Bank:State : Regular Issue
Description of paper money: Banknote 1917. Brown on red-brown underprint. Eagle at upper center.Without serries.(4.9.1917)
Back - Multicolor. National motives.
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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.
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