Country and Pick Number: Russia; Pick P 211
First year of issue: 1934
Denomination and currency: 5 Gold Rubles
Issue type : uncirculated
Name of Issuer / Bank:State : Regular Issue
Description of paper money: Banknote 1934. Gray-blue on light blue underprint. Arms at upper center. With signature.Series НM 881287
Back -Gray-blue on light blue. 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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