Monetary reform in the Soviet Union, 1922–24

The monetary reform in the Soviet Union of 1922-1924 was carried out during the New Economic Policy. It was aimed at the stabilizing of the Soviet currency after an enormous hyperinflation during the Russian Civil War (1917-1922) with its policy of War Communism. The reform replaced all currencies of the time (sovznaks, kerenkas, old imperial money, various bonds, coupons, etc.) by a new one, chervonets, backed by the gold standard.