noun (plural chervontsy)
1.1A currency note introduced by the Bolsheviks in 1922, worth ten roubles.
- In 1924 the exchange rate of the new soviet karbovanets against the chervonets was set equal to 1: 10.
- 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.
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