| Description | Assignation ruble (Russian: ассигнационный рубль; assignatsionny rubl) was the first paper currency of Russia. It was used from 1769 until 1849. Assignation ruble had a parallel circulation with the silver ruble; there was an ongoing market exchange rate for these two currencies. In later period, the value of the Assignation ruble was considerably below that of the silver ruble.
In 1843, all Assignation rubles were withdrawn from circulation, and replaced with the state credit notes (Russian: государственные кредитные билеты) in denominations of 1, 3, 5, 10, 25, 50 and 100 rubles. The Assignation Bank was replaced by the State Bank, and formally ceased operations in 1848. All this came about through the monetary reforms of 1839-43, which improved the Russian fiscal system considerably. These were the reforms of Georg von Cancrin, the Russian Minister of Finance from 1823 to 1844. |
|---|
