The word ruble is derived from the Slavic verb рубить, rubit', i.e., 'to chop'. Historically, a "ruble" was a piece of a certain weight chopped off a silver ingot (grivna), hence the name.
The word kopek, kopeck,

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The Soviet currency had its own name in all the languages of the Soviet Union, often different from its Russian designation. All banknotes had the

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First Soviet ruble
The first ruble issued for the Soviet government was a preliminary issue still based on the previous issue of the ruble prior to the

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The Soviet Union ran a planned economy, where the government controlled prices and the exchange of currency. Thus the Soviet ruble did not function like a currency in a

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Shortly after the fall of the Soviet Unionin 1991, local currencies were introduced in the newly independent states. Most of the new economies were weak and hence most of the currencies have undergone significant reforms since their introduction. In the very

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• Hyperinflation in early Soviet Russia
• List of commemorative coins of the Soviet Union

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The Soviet Union officially valued the ruble in the planned economy at an average of $1.35 (or 0.74 руб per U.S. dollar; see below) from 1971-88. However, as the ruble was not internationally exchangeable and as Soviet citizens could not legally own foreign currency,

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