Transnistrian ruble

Transnistrian ruble
ruble transnistrene (Romanian)
приднестровский рубль (Russian)
придністровський рубль (Ukrainian)

2007 issue Transnistrian ruble banknotes
ISO 4217 code none
Central bank Trans-Dniester Republican Bank
 Website http://www.cbpmr.net/
User(s)  Transnistria
Inflation 10.83%
 Source "Inflation", Pridnestrovie, 2006 
Subunit
 1/100 kopecks
Symbol (commonly руб/р, with occasionally ПМР after it)
Coins 5, 10, 25, 50 kopecks and 1, 3, 5 and 10 rubles
Banknotes 1, 5, 10, 25, 50, 100, 200, 500 rubles

The ruble is the currency of Transnistria and is divided into 100 kopecks. Since Transnistria is a state with limited international recognition, its currency has no ISO 4217 code. However, unofficially some Transnistrian organisations such as Agroprombank and Gazprombank used the code PRB. The Trans-Dniester Republican Bank sometimes uses the code RUP.[1]

First ruble (1994)

Soviet banknotes were used in the Trans-Dniester Moldavian Republic after its formation in 1990. When the former Soviet republics began issuing their own currencies, Transnistria was flooded with Soviet rubles. In an attempt to protect its financial system, in July 1993 the government bought used Goznak-printed Soviet and Russian notes dated 1961–1992 which it modified by adhering stamps bearing the image of General Alexander Vasilyevich Suvorov, founder of Tiraspol. These stamped notes replaced unstamped Soviet and Russian notes at par. It is thought that most uncirculated notes bearing these stickers were created after 1994 specifically for collectors.[2]

Second ruble (1994–2000)

The first, provisional issues were replaced in August 1994 by a new ruble, equal to 1000 old rubles. This currency consisted solely of banknotes and suffered from high inflation, necessitating the issue of notes overstamped with higher denominations. Although issued in 1994, some notes (50 to 5000 rubles) were issued dated 1993.

Banknotes

1994 Series
Value Dimensions Main Colour Images Description Date of
Obverse Reverse Obverse Reverse printing issue
1 ruble ?? Green Alexander Suvorov Transnistrian Supreme Soviet 1994 1994
5 rubles Blue
10 rubles Red
50 rubles Dull Green Equestrian Statue of Alexander Suvorov in Tiraspol 1993 1993
100 rubles Brown
200 rubles Red violet Equestrian Statue of Alexander Suvorov in Tiraspol Transnistrian Supreme Soviet 1993 1994
500 rubles Blue Equestrian Statue of Alexander Suvorov in Tiraspol Transnistrian Supreme Soviet 1993 1994
1000 rubles Purple and red-violet Equestrian Statue of Alexander Suvorov in Tiraspol Transnistrian Supreme Soviet 1993 1994
1000 rubles Purple Alexander Suvorov Transnistrian Supreme Soviet 1994 1994
5000 rubles Black on deep olive-green Equestrian Statue of Alexander Suvorov in Tiraspol Transnistrian Supreme Soviet 1993 1995
10,000 rubles Green Alexander Suvorov overprinted on a 1 ruble note with "1oooo" only on front Transnistrian Supreme Soviet 1994 1996
10,000 rubles Green Alexander Suvorov overprinted on 10 ruble note with "10ooo" on front and back Transnistrian Supreme Soviet 1994 1998
50,000 rubles Brown Bogdan Khmelnitsky Drama and Comedy theatre, Tiraspol 1995 1995
50,000 rubles Blue Alexander Suvorov overprinted on a 5 ruble note, with a holographic seal containing his equestrian statue in Tiraspol and the value "500000" on front Transnistrian Supreme Soviet 1994 1996
50,000 rubles Blue Alexander Suvorov overprinted on a 5 ruble note with "50ooo" on front and back Transnistrian Supreme Soviet 1994 1996
100,000 rubles Red Alexander Suvorov overprinted on a 10 ruble note with "100ooo" on front and back Transnistrian Supreme Soviet 1994 1996
500,000 rubles Purple on yellow Equestrian Statue of Alexander Suvorov in Tiraspol Transnistrian Supreme Soviet 1997 1997

Third ruble (2000–present)

In 2000, a new ruble was introduced at a rate of 1 new ruble = 1,000,000 old rubles. This new currency consists of both coins and banknotes.

Coins

Coins are of 1 to 50 kopecks and are made from aluminium or copper-zinc and are similar to Soviet-era coinage. The 1 kopeck coins were withdrawn from circulation in January 2009.

On August 22, 2014, the Transnistrian Republican Bank issued coins made of composite materials and come in denominations of 1-, 3-, 5- and 10 rubles.[3][4]

Commemorative coins

Commemorative coin depicting Pyotr Vershigora

Since 2000 the Transnistrian Republican Bank has issued a large number of commercial commemorative coins made from silver and gold. Their mintage numbers were very low, ranging between 500 and 5,000. Topics included for example "Ancient fortresses on the river Dniester", "The Outstanding people Transdniestria" and "Red book Transdniestria". A complete listing can be found on the website () of the Transnistrian Republican Bank.

Mint

When it was founded, Transnistria did not have its own mint. Thus a foreign mint had to be found to strike Transnistrian coins. The Mint of Poland (Mennica Polska) in Warsaw was selected for the job and accepted it.[5] Coins dated 2000 were struck in Warsaw and transported via Ukraine to Transnistria in trucks belonging to the Transnistrian Republican Bank.

The Moldovan government was not pleased with this situation, since they viewed it as a de facto recognition of Transnistria. In October 2001 Moldovan president Vladimir Voronin addressed the issue with his Polish counterpart.[6]

The Polska Mennica responded to the criticism by stating that because the Transnistrian ruble is not internationally recognized as a currency, they were in fact producing tokens (and not coins), which is normal business for mints.[7]

The conflict came to a height when in December 2004 Ukrainian customs confiscated a truck with US$117,000 worth of Transnistrian coins near Lviv. The coins were handed over to the Moldovan authorities, who in response again protested with the Polish government.

The Polish Ministry of Foreign Affairs en state property wrote another letter to the Polish mint in April 2005. They warned that continued production of Transnistrian coins would endanger relations with Ukraine and Moldova and damage the image of Poland abroad. The Polish mint bowed to the pressure and cancelled its contract with Transnistria the same month.

For Transnistria there was then no other solution but to strike future coins themselves. Thus on 18 November 2005 the Tiraspol Mint (Тираспольский монетный двор) was opened in the presence of President Igor Smirnov.

Banknotes

Notes are issued by the Transnistrian Republican Bank (Приднестровский Республиканский Банк) in denominations of 1 to 500 rubles.

2000 Series

2000 Series
Value Dimensions Main Colour Images Description Date of
Obverse Reverse Obverse Reverse printing issue
1 ruble 129 × 56 mm Orange Alexander Suvorov Chiţcani monument 2000 2000
5 rubles Blue KVINT brandy factory
10 rubles Brown Novo-Nyametsky Monastery
25 rubles Red Bender Castle
50 rubles 129 × 60 mm Green Taras Shevchenko Presidential palace / government building in Tiraspol
100 rubles Purple Dimitrie Cantemir The Cathedral of Christmas, Tiraspol
200 rubles 135 × 64 mm Dark brown Peter Rumyantsev-Zadunaisky Battle of Gross-Jägersdorf, July 21, 1757 2004 2004
2012
500 rubles 140 × 68 mm Dull green Catherine II The decree of the creation of Tiraspol by Catherine II, and the plan of a fortress

2007 Series

In 2007 a new series replaced the above banknotes of denominations 1 to 100 rubles. The new notes have the same themes but a new design.

2007 Series
Value Dimensions Main Colour Images Description Date of
Obverse Reverse Obverse Reverse printing issue
1 ruble 129 × 55 mm Brown Alexander Suvorov Chiţcani monument 2007 2007
2012
5 rubles Blue KVINT brandy factory
10 rubles Green/Black Novo-Nyametsky Monastery
25 rubles Red Bender Castle
50 rubles ?? Cyan Taras Shevchenko Presidential palace / government building in Tiraspol
100 rubles Purple Dimitrie Cantemir The Cathedral of Christmas, Tiraspol

Exchange rates

Buy

USD 11.00

EUR 12.00

RUS 0.210

UAH 0.430

MDL 0.580

CHF 10.40

GBP 14.80

Sell

USD 11.15

EUR 12.85

RUS 0.228

UAH 0.560

MDL 0.650

CHF 13.50

GBP 17.80[8]

Acceptance outside of Transnistria

The Transnistrian Ruble is generally not accepted as currency outside of Transnistria, though some bus companies with connections to Tiraspol accept Transnistrian rubles at the Chișinău bus station.

References

  1. ↑ Условия проведения операций "валютный своп" USD/RUP (in Russian), Trans-Dniester Republican Bank, retrieved 2011-09-21
  2. ↑ Trans-Dniester Republican Bank. Available at:http://www.cbpmr.net/?id=33&lang=en
  3. ↑ Transnistria 2014 - New coin family in synthetic material World Coin News (worldcoinnews.blogspot.com). Retrieved on 2014-08-22.
  4. ↑ Official poster of Transnistrian Republican Bank with images and description.
  5. ↑ http://wyborcza.pl/1,75248,2490728.html
  6. ↑ http://www.transnistria.info/independent-transnistria-news/tiraspol-designated-the-arrest-of-a-batch-of-the-transdniestrian-coins-as-a-provocation.html
  7. ↑ http://www.mennica.com.pl/dla-inwestorow/sprawozdania-rn.html, sprawozdania Rady Nadzorczej Mennicy (2005).
  8. ↑ http://www.anothertriptorecall.com/transnistria-exchange-rates-and-how-to-access-cash/

External links

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