page_title: Monetary reform in Russia, 1998
section_title: Reform
hierarchical_section_title: Monetary reform in Russia, 1998 / Reform
caption_attribution_description: Русский: Банкнота достоинством 50 000 рублей образца 1995 года. Россия. Лицевая сторона.(Аверс) English: Russian banknote. 50 000 rubles. Version of 1995 year. Россия. Front
context_page_description: The monetary reform of 1998 in Russia was launched on January 1, 1998. Preparation started in August 1997. Replacement of the old banknotes occurred gradually, until 2002.
context_section_description: On August 4, 1997, President Boris Yeltsin issued a presidential decree, "On change the face value of a currency and the scale of prices". Exchange began on January 1, 1998, with a new ruble being worth 1000 old (1993 and 1995) rubles.
  Since the monetary reform in the Soviet Union, 1991, had left a negative memory by the three-day exchange of 50 and 100-ruble notes, the new exchange was held progressively, until 2002.
  All redenominated coins of the Central Bank of Russia (1, 5, 10, 20, 50, 100 rubles and collectible), contrary to the tradition of the previous two denominations, ceased to be legal tender. The appearance of the new banknotes after the denomination did not change, but only the face value of the zeros was removed.
  Coins disappeared from circulation as well as the old 1000-ruble banknote, equivalent to the new 1-ruble coin.
  Also were introduced kopek coins, with the image of St. George (1, 5, 10, 50 kopeks), and ruble coins, with the image of an eagle (1, 2, 5 rubles).
caption: 50,000 roubles, pre-reform banknote (issued in 1995)
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