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Russia’s complex relationship with the ruble

The first banknotes were greeted with deep suspicion in 1769 – but it was nothing to the distrust that Soviet and post-Soviet issues aroused

29 July 2023

9:00 AM

29 July 2023

9:00 AM

The Ruble: A Political History Ekaterina Pravilova

OUP USA, pp.576, 30.99

The most impressive banknote I have ever seen is the 500 ruble note produced by the Imperial Bank of Russia between 1905 and 1912. About four times the size of a modern £50 note, it is magnificently emblazoned with a portrait of Peter the Great and a profusion of cupids and classical pillars.

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