Definition of chervonets in English:

chervonets

nounPlural chervontsyˌtʃəːvəʊˈnjɛts

1A pre-Revolutionary Russian gold coin, worth three roubles.
Example sentencesExamples
- Sixty-six foreign chervonets [gold pieces of Dutch, Italian, or Austrian origin] were used for gilding.
- The Russian envoy procured an analogous sum of 5000 chervonets from Augustus III for the Polish Confederates.
1. 1.1 A currency note introduced by the Bolsheviks in 1922, worth ten roubles.
  Example sentencesExamples
  In 1924 the exchange rate of the new soviet karbovanets against the chervonets was set equal to 1: 10.
  In circulation were the Soviet chervonets and the rubles designed to portray the symbols of the Soviet ideology.
  ‘Withdrawing some amount of rubles from circulation and replacing them with chervontsy minted in the former Soviet Union… is not a bad combination,’ wrote Bykov.
  Because the new economy was backed by gold, the demand for the chervonets was high and it became the sole currency in February 1924.
  The issue of the chervonets marked the beginning of the monetary reform that ended spiralling post-war inflation.
  The State Bank reopens and is empowered to issue a new ruble, the chervonets, backed by gold reserves and a balanced state budget.
  The chervonets completely ousted ‘sovznaks’ from circulation becoming by 1924 the only currency.
  Coins began to be issued again in 1924, whilst paper money was issued in rubles for values below 10 rubles and in chervonets for higher denominations.
  It was not until June 18th that Victor Gerashenko, the head of the Central Bank of Russia, announced his plans to make chervonets into a real currency.
  All the better, if the chervonets manages to crowd out the U.S. dollar and Russians start using it as an alternative savings currency.

Origin

Russian.

单词	chervonets
释义	Definition of chervonets in English: chervonets nounPlural chervontsyˌtʃəːvəʊˈnjɛts 1A pre-Revolutionary Russian gold coin, worth three roubles. Example sentencesExamples Sixty-six foreign chervonets [gold pieces of Dutch, Italian, or Austrian origin] were used for gilding. The Russian envoy procured an analogous sum of 5000 chervonets from Augustus III for the Polish Confederates. 1.1 A currency note introduced by the Bolsheviks in 1922, worth ten roubles. Example sentencesExamples In 1924 the exchange rate of the new soviet karbovanets against the chervonets was set equal to 1: 10. In circulation were the Soviet chervonets and the rubles designed to portray the symbols of the Soviet ideology. ‘Withdrawing some amount of rubles from circulation and replacing them with chervontsy minted in the former Soviet Union… is not a bad combination,’ wrote Bykov. Because the new economy was backed by gold, the demand for the chervonets was high and it became the sole currency in February 1924. The issue of the chervonets marked the beginning of the monetary reform that ended spiralling post-war inflation. The State Bank reopens and is empowered to issue a new ruble, the chervonets, backed by gold reserves and a balanced state budget. The chervonets completely ousted ‘sovznaks’ from circulation becoming by 1924 the only currency. Coins began to be issued again in 1924, whilst paper money was issued in rubles for values below 10 rubles and in chervonets for higher denominations. It was not until June 18th that Victor Gerashenko, the head of the Central Bank of Russia, announced his plans to make chervonets into a real currency. All the better, if the chervonets manages to crowd out the U.S. dollar and Russians start using it as an alternative savings currency. Origin Russian.
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