142-755: The ruble or rouble ( / ˈ r uː b əl / ; Russian: рубль , IPA: [rublʲ] ) is the currency unit of Belarus and Russia . Historically, it was the name of the currency of the Russian Empire (the Imperial ruble) and, later, of the Soviet Union (the Soviet ruble ). As of 2022, currencies named ruble in circulation include the Belarusian ruble (BYN, Rbl) in Belarus and
284-593: A Philological Society project of a small group of intellectuals in London (and unconnected to Oxford University ): Richard Chenevix Trench , Herbert Coleridge , and Frederick Furnivall , who were dissatisfied with the existing English dictionaries. The society expressed interest in compiling a new dictionary as early as 1844, but it was not until June 1857 that they began by forming an "Unregistered Words Committee" to search for words that were unlisted or poorly defined in current dictionaries. In November, Trench's report
426-434: A legal tender and accepted by governments for taxes. However, the instability in the exchange rate between the two grew over the course of the 19th century, with the increases both in the supply of these metals, particularly silver, and in trade. The parallel use of both metals is called bimetallism , and the attempt to create a bimetallic standard where both gold and silver backed currency remained in circulation occupied
568-748: A 1985 agreement, some of this software work was done at the University of Waterloo , Canada, at the Centre for the New Oxford English Dictionary , led by Frank Tompa and Gaston Gonnet ; this search technology went on to become the basis for the Open Text Corporation . Computer hardware, database and other software, development managers, and programmers for the project were donated by the British subsidiary of IBM ;
710-511: A commodity under the Commodity Exchange Act . There are also branded currencies, for example 'obligation' based stores of value, such as quasi-regulated BarterCard, Loyalty Points (Credit Cards, Airlines) or Game-Credits (MMO games) that are based on reputation of commercial products. Historically, pseudo-currencies have also included company scrip , a form of wages that could only be exchanged in company stores owned by
852-423: A country has control of its own currency, that control is exercised either by a central bank or by a Ministry of Finance . The institution that has control of monetary policy is referred to as the monetary authority. Monetary authorities have varying degrees of autonomy from the governments that create them. A monetary authority is created and supported by its sponsoring government, so independence can be reduced by
994-411: A fascicle of 64 pages, priced at 2s 6d. If enough material was ready, 128 or even 192 pages would be published together. This pace was maintained until World War I forced reductions in staff. Each time enough consecutive pages were available, the same material was also published in the original larger fascicles. Also in 1895, the title Oxford English Dictionary was first used. It then appeared only on
1136-435: A freely convertible currency, domestic firms will have to compete fiercely with their foreign counterparts. The development of competition among them will affect the implementation effect of currency convertibility. In addition, microeconomics is a prerequisite for macroeconomic conditions. Since currency convertibility is the cross-border flow of goods and capital, it will have an impact on the macro economy. This requires that
1278-554: A government ( taxes ), or government agencies (fees, fines). Others simply get traded for their economic value. The concept of a digital currency has arisen in recent years. Whether government-backed digital notes and coins (such as the digital renminbi in China, for example) will be successfully developed and implemented remains unknown. Digital currencies that are not issued by a government monetary authority , such as cryptocurrencies like Bitcoin , are different because their value
1420-496: A larger project. Trench suggested that a new, truly comprehensive dictionary was needed. On 7 January 1858, the society formally adopted the idea of a comprehensive new dictionary. Volunteer readers would be assigned particular books, copying passages illustrating word usage onto quotation slips. Later the same year, the society agreed to the project in principle, with the title A New English Dictionary on Historical Principles ( NED ). Richard Chenevix Trench (1807–1886) played
1562-511: A limited number of sources, whereas the OED editors preferred larger groups of quite short quotations from a wide selection of authors and publications. This influenced later volumes of this and other lexicographical works. According to the publishers, it would take a single person 120 years to "key in" the 59 million words of the OED second edition, 60 years to proofread them, and 540 megabytes to store them electronically. As of 30 November 2005,
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#17327811056081704-641: A local currency. Oxford English Dictionary The Oxford English Dictionary ( OED ) is the principal historical dictionary of the English language , published by Oxford University Press (OUP), a University of Oxford publishing house. The dictionary, which published its first edition in 1884, traces the historical development of the English language, providing a comprehensive resource to scholars and academic researchers, and provides ongoing descriptions of English language usage in its variations around
1846-461: A monetary reform and ordered the mintage of silver one ruble coins from imported joachimsthalers and new kopek coins from copper (old silver kopeks were left in circulation). Although around 1 million of such rubles was made, its lower weight (28–32 grams) against the nominal ruble (48 g) led to counterfeiting, speculation and inflation, and after the Copper Riot of 1662 the new monetary system
1988-494: A paper credit ruble was worth about nine-tenths of a silver ruble These circulated, in various types, until the revolution, with 500 ruble notes added in 1898 and 250 and 1,000 ruble notes added in 1917. In 1915, two kinds of small change notes were issued. One, issued by the Treasury, consisted of regular style (if small) notes for 1, 2, 3, 5 and 50 kopeks. The other consisted of the designs of stamps printed onto card with text and
2130-563: A peculiar way". Murray had American philologist and liberal arts college professor Francis March manage the collection in North America; 1,000 quotation slips arrived daily to the Scriptorium and, by 1880, there were 2,500,000. The first dictionary fascicle was published on 1 February 1884—twenty-three years after Coleridge's sample pages. The full title was A New English Dictionary on Historical Principles; Founded Mainly on
2272-451: A project, that was so incredibly complicated and that met every deadline." By 1989, the NOED project had achieved its primary goals, and the editors, working online, had successfully combined the original text, Burchfield's supplement, and a small amount of newer material, into a single unified dictionary. The word "new" was again dropped from the name, and the second edition of the OED, or
2414-593: A result of monetary reforms by Peter the Great , the ruble became the first decimal currency . The silver ruble was used until 1897 and the gold ruble was used until 1917. The Soviet ruble officially replaced the imperial ruble in 1922 and continued to be used until 1993, when it was formally replaced with the Russian ruble in the Russian Federation and by other currencies in other post-Soviet states . In
2556-399: A ruble varied in the 18th century. Additionally, coins worth over a ruble were minted in gold and platinum . By the end of the 18th century, the ruble was set to 4 zolotnik 21 dolya (or 4 21 ⁄ 96 zolotnik , almost exactly equal to 18 grams) of pure silver or 27 dolya (almost exactly equal to 1.2 g (0.039 ozt)) of pure gold, with a ratio of 15:1 for the values of
2698-558: A significant impact on the generation of exchange rates. Currency convertibility is closely linked to economic development and finance. There are strict conditions for countries to achieve currency convertibility, which is a good way for countries to improve their economies. The currencies of some countries or regions in the world are freely convertible, such as the US dollar, Australian dollar and Japanese yen. The requirements for currency convertibility can be roughly divided into four parts: With
2840-591: A singular monetary system for all purchases and debts in the United States, public and private. Along with the power to coin money, the United States Congress has the concurrent power to restrain the circulation of money which is not issued under its own authority in order to protect and preserve the constitutional currency. It is a violation of federal law for individuals, or organizations to create private coin or currency systems to compete with
2982-471: A small regional territory. In the 10th century, the Song dynasty government began to circulate these notes amongst the traders in its monopolized salt industry. The Song government granted several shops the right to issue banknotes, and in the early 12th century the government finally took over these shops to produce state-issued currency. Yet the banknotes issued were still only locally and temporarily valid: it
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#17327811056083124-752: A specific country and a final letter denoting a specific monetary unit of account. Many currencies use a currency symbol . These are not subject to international standards and are not unique: the dollar sign in particular has many uses. Distinct from centrally controlled government-issued currencies, private decentralized trust-reduced networks support alternative currencies (such as Bitcoin and Ethereum's ether , which are classified as cryptocurrency since transference transactions are assured through cryptographic signatures validated by all users. With few exceptions , these currencies are not asset backed . The U.S. Commodity Futures Trading Commission has declared Bitcoin (and, by extension, similar products) to be
3266-481: A third edition of the dictionary has been underway, approximately half of which was complete by 2018. In 1988, the first electronic version of the dictionary was made available, and the online version has been available since 2000. By April 2014, it was receiving over two million visits per month. The third edition of the dictionary is expected to be available exclusively in electronic form; the CEO of OUP has stated that it
3408-414: A total of 11 fascicles had been published, or about one per year: four for A–B , five for C , and two for E . Of these, eight were 352 pages long, while the last one in each group was shorter to end at the letter break (which eventually became a volume break). At this point, it was decided to publish the work in smaller and more frequent instalments; once every three months beginning in 1895 there would be
3550-563: Is a currency sign used to represent the monetary unit of account in Russia. It features a Cyrillic letter Р (transliterated as "Er" in the Latin alphabet ) with an additional horizontal stroke. The Unicode CJK Compatibility block contains U+3354 ㍔ SQUARE RUUBURU , a square version of ルーブル ( rūburu ), the Japanese word for "ruble". Currency A currency
3692-432: Is a price at which two currencies can be exchanged against each other. This is used for trade between the two currency zones. Exchange rates can be classified as either floating or fixed . In the former, day-to-day movements in exchange rates are determined by the market; in the latter, governments intervene in the market to buy or sell their currency to balance supply and demand at a static exchange rate. In cases where
3834-648: Is a standardization of money in any form, in use or circulation as a medium of exchange , for example banknotes and coins . A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$ ) are examples of (government-issued) fiat currencies . Currencies may act as stores of value and be traded between nations in foreign exchange markets , which determine
3976-688: Is a tendency for older sources to use rouble and more recent ones to use ruble . However, usage is not consistent and major publications are known to use both (though usually preferring one or the other). The Russian plurals that may be seen on the actual currency are modified according to Russian grammar . Numbers ending in 1 (except for 11) are followed by nominative singular рубль rubl , копейка kopeyka . Numbers ending in 2, 3 or 4 (except for 12–14) are followed by genitive singular рубля rublya , копейки kopeyki . Numbers ending in 5–9, 0, or 11–14 are followed by genitive plural рублей rubley , копеек kopeyek . In several languages spoken in Russia and
4118-712: Is economic turmoil involving the national currency. An example of this is the Argentinian economic crisis of 2002 in which IOUs issued by local governments quickly took on some of the characteristics of local currencies. One of the best examples of a local currency is the original LETS currency, founded on Vancouver Island in the early 1980s. In 1982, the Canadian Central Bank 's lending rates ran up to 14% which drove chartered bank lending rates as high as 19%. The resulting currency and credit scarcity left island residents with few options other than to create
4260-592: Is market-dependent and has no safety net . Various countries have expressed concern about the opportunities that cryptocurrencies create for illegal activities such as scams , ransomware ( extortion ), money laundering and terrorism . In 2014, the United States IRS advised that virtual currency is treated as property for federal income-tax purposes, and it provides examples of how long-standing tax principles applicable to transactions involving property apply to virtual currency. Originally, currency
4402-487: Is often outlawed by governments in order to preserve the legitimacy of the constitutional currency for the benefit of all citizens. For example, Article I, section 8, clause 5 of the United States Constitution delegates to Congress the power to coin money and to regulate the value thereof. This power was delegated to Congress in order to establish and preserve a uniform standard of value and to insure
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4544-486: Is the most-quoted female writer. Collectively, the Bible is the most-quoted work (in many translations); the most-quoted single work is Cursor Mundi . Additional material for a given letter range continued to be gathered after the corresponding fascicle was printed, with a view towards inclusion in a supplement or revised edition. A one-volume supplement of such material was published in 1933, with entries weighted towards
4686-554: Is the now completely obsolete robble . The form rouble is preferred by the Oxford English Dictionary and probably derives from the transliteration into French used among the Tsarist aristocracy . It may have been retained in English to avoid confusion with "rubble". In general, American, and some Canadian, authors tend to use "ruble" while other English-speaking authors use "rouble". In American English there
4828-466: Is too high or too low, which can easily trigger speculation and undermine the stability of macroeconomic and financial markets. Therefore, to maintain the level of exchange rate, a proper exchange rate regime is crucial. In economics, a local currency is a currency not backed by a national government and intended to trade only in a small area. Advocates such as Jane Jacobs argue that this enables an economically depressed region to pull itself up, by giving
4970-400: Is unknown), hence the name from рубить ( rubit ). Another version of the word's origin is that it comes from the Russian noun рубец ( rubets ), the seam that is left around a silver bullions after casting: silver was added to the cast in two steps. Therefore, the word "ruble" means "a cast with a seam". A popular theory deriving the word ruble from rupee is probably not correct. The ruble
5112-544: Is unlikely that it will ever be printed. As a historical dictionary, the Oxford English Dictionary features entries in which the earliest ascertainable recorded sense of a word, whether current or obsolete, is presented first, and each additional sense is presented in historical order according to the date of its earliest ascertainable recorded use. Following each definition are several brief illustrating quotations presented in chronological order from
5254-470: The Los Angeles Times . Time dubbed the book "a scholarly Everest ", and Richard Boston , writing for The Guardian , called it "one of the wonders of the world ". The supplements and their integration into the second edition were a great improvement to the OED as a whole, but it was recognized that most of the entries were still fundamentally unaltered from the first edition. Much of
5396-854: The Icelandic króna and the Japanese yen . Mauritania and Madagascar are the only remaining countries that have theoretical fractional units not based on the decimal system; instead, the Mauritanian ouguiya is in theory divided into 5 khoums , while the Malagasy ariary is theoretically divided into 5 iraimbilanja . In these countries, words like dollar or pound "were simply names for given weights of gold". Due to inflation khoums and iraimbilanja have in practice fallen into disuse. (See non-decimal currencies for other historic currencies with non-decimal divisions.) Subject to variation around
5538-488: The Mordvin word for ruble, целковой . Since the monetary reform of 1534, one Russian accounting ruble became equivalent to 100 silver Novgorod denga coins or smaller 200 Muscovite denga coins or even smaller 400 polushka coins. Exactly the former coin with a rider on it soon became colloquially known as kopek and was the higher coin until the beginning of the 18th century. Ruble coins as such did not exist till Peter
5680-520: The Nobel Prize in Physics ). Also in 1933 the original fascicles of the entire dictionary were re-issued, bound into 12 volumes, under the title " The Oxford English Dictionary ". This edition of 13 volumes including the supplement was subsequently reprinted in 1961 and 1970. In 1933, Oxford had finally put the dictionary to rest; all work ended, and the quotation slips went into storage. However,
5822-565: The OED is neither the world's largest nor the earliest exhaustive dictionary of a language. Another earlier large dictionary is the Grimm brothers ' dictionary of the German language , begun in 1838 and completed in 1961. The first edition of the Vocabolario degli Accademici della Crusca is the first great dictionary devoted to a modern European language (Italian) and was published in 1612;
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5964-659: The OED2 adopted the modern International Phonetic Alphabet . Unlike the earlier edition, all foreign alphabets except Greek were transliterated . Following page 832 of Volume XX Wave -— Zyxt there's a 143-page separately paginated bibliography, a conflation of the OED 1st edition's published with the 1933 Supplement and that in Volume IV of the Supplement published in 1986. The British quiz show Countdown awarded
6106-399: The OED2 is mostly just a reorganization of the earlier corpus, but the retypesetting provided an opportunity for two long-needed format changes. The headword of each entry was no longer capitalized, allowing the user to readily see those words that actually require a capital letter. Murray had devised his own notation for pronunciation, there being no standard available at the time, whereas
6248-640: The OED2, was published. The first edition retronymically became the OED1 . The Oxford English Dictionary 2 was printed in 20 volumes. Up to a very late stage, all the volumes of the first edition were started on letter boundaries. For the second edition, there was no attempt to start them on letter boundaries, and they were made roughly equal in size. The 20 volumes started with A , B.B.C. , Cham , Creel , Dvandva , Follow , Hat , Interval , Look , Moul , Ow , Poise , Quemadero , Rob , Ser , Soot , Su , Thru , Unemancipated , and Wave . The content of
6390-443: The Oxford English Dictionary contained approximately 301,100 main entries. Supplementing the entry headwords , there are 157,000 bold-type combinations and derivatives; 169,000 italicized-bold phrases and combinations; 616,500 word-forms in total, including 137,000 pronunciations ; 249,300 etymologies ; 577,000 cross-references; and 2,412,400 usage quotations . The dictionary's latest, complete print edition (second edition, 1989)
6532-644: The Russian ruble (RUB, ₽) in Russia. Additionally, the Transnistrian ruble is used in Transnistria , an unrecognized breakaway province of Moldova . These currencies are subdivided into one hundred kopeks . No kopek is currently formally subdivided, although denga (½ kopek) and polushka (½ denga, thus ¼ kopek) were minted until the 19th century. Historically, the grivna , ruble and denga were used in Russia as measurements of weight. In 1704, as
6674-552: The World Wide Web and new computer technology in general meant that the processes of researching the dictionary and of publishing new and revised entries could be vastly improved. New text search databases offered vastly more material for the editors of the dictionary to work with, and with publication on the Web as a possibility, the editors could publish revised entries much more quickly and easily than ever before. A new approach
6816-517: The cash form of a currency. Banknotes were initially mostly paper, but Australia's Commonwealth Scientific and Industrial Research Organisation developed a polymer currency in the 1980s; it went into circulation on the nation's bicentenary in 1988. Polymer banknotes had already been introduced in the Isle of Man in 1983. As of 2016, polymer currency is used in over 20 countries (over 40 if counting commemorative issues), and dramatically increases
6958-517: The 17th centuries the ruble was neither a coin nor a currency but rather a unit of weight. The most used currency was a small silver coin called denga (pl. dengi ). There were two variants of the denga, minted in Novgorod and Moscow. The weight of a denga silver coin was unstable and inflating, but by 1535, one Novgorod denga weighed 0.68 g (0.022 ozt), the Moscow denga being a half that of
7100-523: The 1998 book The Surgeon of Crowthorne (US title: The Professor and the Madman ), which was the basis for a 2019 film, The Professor and the Madman , starring Mel Gibson and Sean Penn . During the 1870s, the Philological Society was concerned with the process of publishing a dictionary with such an immense scope. They had pages printed by publishers, but no publication agreement
7242-475: The 19th century, copper coins were issued for 1 ⁄ 4 , 1 ⁄ 2 , 1, 2 and 5 kopeks, with silver 5, 10, 25 and 50 kopeks and 1 ruble and gold 5, although production of the 10 ruble coin ceased in 1806. Silver 20 kopeks were introduced in 1820, followed by copper 10 kopeks minted between 1830 and 1839, and copper 3 kopeks introduced in 1840. Between 1828 and 1845, platinum 3, 6 and 12 rubles were issued. In 1860, silver 15 kopeks were introduced, due to
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#17327811056087384-821: The Assignation rubles fell relative to the coins until, in 1839, the relationship was fixed at 1 silver ruble = 3 + 1 ⁄ 2 assignat rubles. In 1840, the State Commercial Bank issued 3, 5, 10, 25, 50 and 100 ruble notes, followed by 50 ruble credit notes of the Custody Treasury and State Loan Bank. In 1843, the Assignation Bank ceased operations, and state credit notes (Russian: государственные кредитные билеты , gosudarstvenniye kreditniye bilety ) were introduced in denominations of 1, 3, 5, 10, 25, 50 and 100 rubles. In 1859
7526-427: The English language continued to change and, by the time 20 years had passed, the dictionary was outdated. There were three possible ways to update it. The cheapest would have been to leave the existing work alone and simply compile a new supplement of perhaps one or two volumes, but then anyone looking for a word or sense and unsure of its age would have to look in three different places. The most convenient choice for
7668-402: The Great, when in 1704 he reformed the old monetary system and ordered mintage of a 28 g (0.90 ozt) silver ruble coin equivalent to 100 new copper kopek coins. Apart from one ruble and one kopek coins other smaller and greater coins existed as well. Both the spellings ruble and rouble are used in English, depending on the author's native dialect. The earliest use recorded in English
7810-524: The Materials Collected by The Philological Society ; the 352-page volume, words from A to Ant , cost 12 s 6 d (equivalent to $ 82 in 2023). The total sales were only 4,000 copies. The OUP saw that it would take too long to complete the work with unrevised editorial arrangements. Accordingly, new assistants were hired and two new demands were made on Murray. The first was that he move from Mill Hill to Oxford to work full-time on
7952-516: The Novgorod denga. Thus one account ruble consisted of 100 Novgorod or 200 Moscow dengi (68 g (2.2 ozt) of silver). As the Novgorod denga bore the image of a rider with a spear ( Russian : копьё, kop’yo ), it later has become known as kopek . In the 17th century, the weight of a kopek coin reduced to 0.48 g (0.015 ozt), thus one ruble was equal to 48 g (1.5 ozt) of silver. In 1654–1655 tsar Alexis I tried to carry out
8094-524: The OUP forced the promotion of Murray's assistant Henry Bradley (hired by Murray in 1884), who worked independently in the British Museum in London beginning in 1888. In 1896, Bradley moved to Oxford University. Gell continued harassing Murray and Bradley with his business concerns – containing costs and speeding production – to the point where the project's collapse seemed likely. Newspapers reported
8236-698: The United States, more than 120 typists of the International Computaprint Corporation (now Reed Tech ) started keying in over 350,000,000 characters, their work checked by 55 proof-readers in England. Retyping the text alone was not sufficient; all the information represented by the complex typography of the original dictionary had to be retained, which was done by marking up the content in SGML . A specialized search engine and display software were also needed to access it. Under
8378-634: The United States. At various times countries have either re-stamped foreign coins or used currency boards , issuing one note of currency for each note of a foreign government held, as Ecuador currently does. Each currency typically has a main currency unit (the dollar , for example, or the euro ) and a fractional unit, often defined as 1 ⁄ 100 of the main unit: 100 cents = 1 dollar , 100 centimes = 1 franc , 100 pence = 1 pound , although units of 1 ⁄ 10 or 1 ⁄ 1000 occasionally also occur. Some currencies do not have any smaller units at all, such as
8520-548: The alphabet as before and updating "key English words from across the alphabet, along with the other words which make up the alphabetical cluster surrounding them". With the relaunch of the OED Online website in December 2010, alphabetical revision was abandoned altogether. The revision is expected roughly to double the dictionary in size. Apart from general updates to include information on new words and other changes in
8662-412: The changes in the international exchange rate. Fiscal policies , such as transfer payments, taxation ratios, and other factors, dominate the profitability of capital and economic development, and the ratio of national debt issuance to deficit determines the repayment capacity and credit rating of the country. Such policies determine the mechanism of linking domestic and foreign currencies and therefore have
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#17327811056088804-400: The circulating medium. Private banks and governments across the world followed Gresham's law : keeping the gold and silver they received but paying out in notes. This did not happen all around the world at the same time, but occurred sporadically, generally in times of war or financial crisis, beginning in the early 20th century and continuing across the world until the late 20th century, when
8946-582: The colour syntax-directed editor for the project, LEXX , was written by Mike Cowlishaw of IBM. The University of Waterloo , in Canada, volunteered to design the database. A. Walton Litz , an English professor at Princeton University who served on the Oxford University Press advisory council, was quoted in Time as saying "I've never been associated with a project, I've never even heard of
9088-401: The complete dictionary to 16 volumes, or 17 counting the first supplement. Burchfield emphasized the inclusion of modern-day language and, through the supplement, the dictionary was expanded to include a wealth of new words from the burgeoning fields of science and technology, as well as popular culture and colloquial speech. Burchfield said that he broadened the scope to include developments of
9230-415: The covers of the series, and in 1928 the full dictionary was republished in 10 bound volumes. In 1933, the title The Oxford English Dictionary fully replaced the former name in all occurrences in its reprinting as 12 volumes with a one-volume supplement. More supplements came over the years until 1989, when the second edition was published, comprising 21,728 pages in 20 volumes. Since 2000, compilation of
9372-448: The currencies used from the 15th century onwards to sell slaves. African currency is still notable for its variety, and in many places, various forms of barter still apply. The prevalence of metal coins possibly led to the metal itself being the store of value: first copper, then both silver and gold, and at one point also bronze. Today other non-precious metals are used for coins. Metals were mined, weighed, and stamped into coins. This
9514-425: The definition which focuses on the currency systems of countries. One can classify currencies into three monetary systems : fiat money , commodity money , and representative money , depending on what guarantees a currency's value (the economy at large vs. the government's precious metal reserves ). Some currencies function as legal tender in certain jurisdictions , or for specific purposes, such as payment to
9656-634: The demand for paper notes to fall to zero. The printing of paper money was also associated with wars, and financing of wars, and therefore regarded as part of maintaining a standing army . For these reasons, paper currency was held in suspicion and hostility in Europe and America. It was also addictive since the speculative profits of trade and capital creation were quite large. Major nations established mints to print money and mint coins, and branches of their treasury to collect taxes and hold gold and silver stock. At that time, both silver and gold were considered
9798-548: The dictionary in Chicago, where he was a professor. The fourth editor was Charles Talbut Onions , who compiled the remaining ranges starting in 1914: Su–Sz , Wh–Wo , and X–Z . In 1919–1920, J. R. R. Tolkien was employed by the OED , researching etymologies of the Waggle to Warlock range; later he parodied the principal editors as "The Four Wise Clerks of Oxenford" in the story Farmer Giles of Ham . By early 1894,
9940-459: The dictionary. In 1878, Oxford University Press agreed with Murray to proceed with the massive project; the agreement was formalized the following year. 20 years after its conception, the dictionary project finally had a publisher. It would take another 50 years to complete. Late in his editorship, Murray learned that one especially prolific reader, W. C. Minor , was confined to a mental hospital for (in modern terminology) schizophrenia . Minor
10082-532: The earliest ascertainable use of the word in that sense to the last ascertainable use for an obsolete sense, to indicate both its life span and the time since its desuetude, or to a relatively recent use for current ones. The format of the OED ' s entries has influenced numerous other historical lexicography projects. The forerunners to the OED , such as the early volumes of the Deutsches Wörterbuch , had initially provided few quotations from
10224-490: The efforts of inflationists . Governments at this point could use currency as an instrument of policy, printing paper currency such as the United States greenback , to pay for military expenditures. They could also set the terms at which they would redeem notes for specie, by limiting the amount of purchase, or the minimum amount that could be redeemed. By 1900, most of the industrializing nations were on some form of gold standard , with paper notes and silver coins constituting
10366-457: The employers. Modern token money , such as the tokens operated by local exchange trading systems (LETS), is a form of barter rather than being a true currency. The currency may be Internet-based and digital, for instance, Bitcoin is not tied to any specific country, or the IMF's SDR that is based on a basket of currencies (and assets held). Possession and sale of alternative forms of currencies
10508-421: The finished dictionary; Bradley died in 1923, having completed E–G , L–M , S–Sh , St , and W–We . By then, two additional editors had been promoted from assistant work to independent work, continuing without much trouble. William Craigie started in 1901 and was responsible for N , Q–R , Si–Sq , U–V , and Wo–Wy. The OUP had previously thought London too far from Oxford but, after 1925, Craigie worked on
10650-673: The first edition of Dictionnaire de l'Académie française dates from 1694. The official dictionary of Spanish is the Diccionario de la lengua española (produced, edited, and published by the Royal Spanish Academy ), and its first edition was published in 1780. The Kangxi Dictionary of Chinese was published in 1716. The largest dictionary by number of pages is believed to be the Dutch Woordenboek der Nederlandsche Taal . The dictionary began as
10792-715: The following year under the administrative direction of Timothy J. Benbow, with John A. Simpson and Edmund S. C. Weiner as co-editors. In 2016, Simpson published his memoir chronicling his years at the OED: The Word Detective: Searching for the Meaning of It All at the Oxford English Dictionary – A Memoir (New York: Basic Books). Thus began the New Oxford English Dictionary (NOED) project. In
10934-517: The former Soviet Union, the currency name has no etymological relation with ruble . Especially in Turkic languages or languages influenced by them, the ruble is often known (also officially) as som or sum (meaning pure ), or manat (from Russian moneta , meaning coin ). Soviet banknotes had their value printed in the languages of all 15 republics of the Soviet Union. From the 14th to
11076-421: The global capital inflows and outflows of countries around the world, and exchange rates will fluctuate accordingly. National policies The country's foreign trade, monetary and fiscal policies affect the exchange rate fluctuations. Foreign trade includes policies such as tariffs and import standards for commodity exports. The impact of monetary policy on the total amount and yield of money directly determines
11218-551: The grivna or pieces of silver with notches indicating their weight. Each grivna was divided into four parts; the name "ruble" came from the word "cut" because the silver rod weighing 1 grivna was split into four parts, which were called rubles. Others say the ruble was never part of a grivna but a synonym for it. This is attested in a 13th-century birch bark manuscript from Novgorod , where both ruble and grivna referred to 204 grams (6.6 troy ounces) of silver. The casting of these pieces included some sort of cutting (the exact technology
11360-547: The group published the first sample pages; later that month, Coleridge died of tuberculosis , aged 30. Thereupon Furnivall became editor; he was enthusiastic and knowledgeable, but temperamentally ill-suited for the work. Many volunteer readers eventually lost interest in the project, as Furnivall failed to keep them motivated. Furthermore, many of the slips were misplaced. Furnivall believed that, since many printed texts from earlier centuries were not readily available, it would be impossible for volunteers to efficiently locate
11502-529: The harassment, particularly the Saturday Review , and public opinion backed the editors. Gell was fired, and the university reversed his cost policies. If the editors felt that the dictionary would have to grow larger, it would; it was an important work, and worth the time and money to properly finish. Neither Murray nor Bradley lived to see it. Murray died in 1915, having been responsible for words starting with A–D , H–K , O–P , and T , nearly half
11644-481: The imperial eagle printed on the reverse. These were in denominations of 1, 2, 3, 10, 15 and 20 kopeks. In 1917, the Provisional Government issued treasury notes for 20 and 40 rubles. These notes are known as " Kerenki " or " Kerensky rubles". The provisional government also had 25 and 1,000 ruble state credit notes printed in the United States but most were not issued. In 1917, the Russian ruble
11786-689: The inauguration in June 2005 of the "Perfect All-Singing All-Dancing Editorial and Notation Application ", or "Pasadena". With this XML -based system, lexicographers can spend less effort on presentation issues such as the numbering of definitions. This system has also simplified the use of the quotations database, and enabled staff in New York to work directly on the dictionary in the same way as their Oxford-based counterparts. Other important computer uses include internet searches for evidence of current usage and email submissions of quotations by readers and
11928-422: The information in the dictionary published in 1989 was already decades out of date, though the supplements had made good progress towards incorporating new vocabulary. Yet many definitions contained disproven scientific theories, outdated historical information, and moral values that were no longer widely accepted. Furthermore, the supplements had failed to recognize many words in the existing volumes as obsolete by
12070-526: The intention of producing a third edition from them. The previous supplements appeared in alphabetical instalments, whereas the new series had a full A–Z range of entries within each individual volume, with a complete alphabetical index at the end of all words revised so far, each listed with the volume number which contained the revised entry. However, in the end only three Additions volumes were published this way, two in 1993 and one in 1997, each containing about 3,000 new definitions. The possibilities of
12212-436: The key role in the project's first months, but his appointment as Dean of Westminster meant that he could not give the dictionary project the time that it required. He withdrew and Herbert Coleridge became the first editor. On 12 May 1860, Coleridge's dictionary plan was published and research was started. His house was the first editorial office. He arrayed 100,000 quotation slips in a 54 pigeon-hole grid. In April 1861,
12354-655: The language in English-speaking regions beyond the United Kingdom , including North America, Australia, New Zealand, South Africa, India, Pakistan, and the Caribbean. Burchfield also removed, for unknown reasons, many entries that had been added to the 1933 supplement. In 2012, an analysis by lexicographer Sarah Ogilvie revealed that many of these entries were in fact foreign loanwords, despite Burchfield's claim that he included more such words. The proportion
12496-488: The language, the third edition brings many other improvements, including changes in formatting and stylistic conventions for easier reading and computerized searching, more etymological information, and a general change of focus away from individual words towards more general coverage of the language as a whole. While the original text drew its quotations mainly from literary sources such as novels, plays, and poetry, with additional material from newspapers and academic journals,
12638-419: The leather-bound complete version to the champions of each series between its inception in 1982 and Series 63 in 2010. The prize was axed after Series 83, completed in June 2021, due to being considered out of date. When the print version of the second edition was published in 1989, the response was enthusiastic. Author Anthony Burgess declared it "the greatest publishing event of the century", as quoted by
12780-711: The legislative or executive authority that creates it. Several countries can use the same name for their own separate currencies (for example, a dollar in Australia , Canada , and the United States ). By contrast, several countries can also use the same currency (for example, the euro or the CFA franc ), or one country can declare the currency of another country to be legal tender . For example, Panama and El Salvador have declared US currency to be legal tender, and from 1791 to 1857, Spanish dollars were legal tender in
12922-491: The letter M , with new material appearing every three months on the OED Online website. The editors chose to start the revision project from the middle of the dictionary in order that the overall quality of entries be made more even, since the later entries in the OED1 generally tended to be better than the earlier ones. However, in March 2008, the editors announced that they would alternate each quarter between moving forward in
13064-485: The life span of banknotes and reduces counterfeiting. The currency used is based on the concept of lex monetae ; that a sovereign state decides which currency it shall use. (See Fiat currency .) In 1978 the International Organization for Standardization published a system of three-digit alphabetic codes ( ISO 4217 ) to denote currencies. These codes are based on two initial letters allocated to
13206-459: The most valuable and were used for large purchases, payment of the military, and backing of state activities. Units of account were often defined as the value of a particular type of gold coin. Silver coins were used for midsized transactions, and sometimes also defined a unit of account, while coins of copper or silver, or some mixture of them (see debasement ), might be used for everyday transactions. This system had been used in ancient India since
13348-434: The national economy be in a normal and orderly state, that is, there is no serious inflation and economic overheating. In addition, the government should use macro policies to make mature adjustments to deal with the impact of currency exchange on the economy. The maintainability of international balance of payments is the main performance of reasonable economic structure. Currency convertibility not only causes difficulties in
13490-420: The need to transport gold and silver, which was risky; it facilitated loans of gold or silver at interest, since the underlying specie (money in the form of gold or silver coins rather than notes) never left the possession of the lender until someone else redeemed the note; and it allowed a division of currency into credit- and specie-backed forms. It enabled the sale of investment in joint-stock companies and
13632-492: The new edition will reference more kinds of material that were unavailable to the editors of previous editions, such as wills, inventories, account books, diaries, journals, and letters. John Simpson was the first chief editor of the OED3 . He retired in 2013 and was replaced by Michael Proffitt , who is the eighth chief editor of the dictionary. The production of the new edition exploits computer technology, particularly since
13774-428: The official coinage and currency of the United States. Commonly a central bank has the exclusive power to issue all forms of currency, including coins and banknotes ( fiat money ), and to restrain the circulation alternative currencies for its own area of circulation (a country or group of countries); it regulates the production of currency by banks ( credit ) through monetary policy . An exchange rate
13916-546: The only reason affecting the exchange rate. The large number of international tourists and overseas students has resulted in the flow of services and goods at home and abroad. It also represents that the competitiveness of global goods and services directly affects the change of international exchange rates. Capital flows National currencies will be traded on international markets for investment purposes. Investment opportunities in each country attract other countries into investment programs, so that these foreign currencies become
14058-434: The outer covers of the fascicles; the original title was still the official one and was used everywhere else. The 125th and last fascicle covered words from Wise to the end of W and was published on 19 April 1928, and the full dictionary in bound volumes followed immediately. William Shakespeare is the most-quoted writer in the completed dictionary, with Hamlet his most-quoted work. George Eliot (Mary Ann Evans)
14200-462: The past, several other countries influenced by Russia and the Soviet Union had currency units that were also named ruble , including the Armenian ruble , Latvian ruble and Tajikistani ruble . According to one version, the word "ruble" is derived from the Russian verb рубить ( rubit ), "to cut, to chop, to hack", as a ruble was considered a cutout piece of a silver grivna . Rubles were parts of
14342-438: The people living there a medium of exchange that they can use to exchange services and locally produced goods (in a broader sense, this is the original purpose of all money). Opponents of this concept argue that local currency creates a barrier that can interfere with economies of scale and comparative advantage and that in some cases they can serve as a means of tax evasion . Local currencies can also come into being when there
14484-699: The project in ten years. Murray started the project, working in a corrugated iron outbuilding called the " Scriptorium " which was lined with wooden planks, bookshelves, and 1,029 pigeon-holes for the quotation slips. He tracked and regathered Furnivall's collection of quotation slips, which were found to concentrate on rare, interesting words rather than common usages. For instance, there were ten times as many quotations for abusion as for abuse . He appealed, through newspapers distributed to bookshops and libraries, for readers who would report "as many quotations as you can for ordinary words" and for words that were "rare, obsolete, old-fashioned, new, peculiar or used in
14626-472: The project, which he did in 1885. Murray had his Scriptorium re-erected in the back garden of his new property. Murray resisted the second demand: that if he could not meet schedule, he must hire a second, senior editor to work in parallel to him, outside his supervision, on words from elsewhere in the alphabet. Murray did not want to share the work, feeling that he would accelerate his work pace with experience. That turned out not to be so, and Philip Gell of
14768-651: The quotations that the dictionary needed. As a result, he founded the Early English Text Society in 1864 and the Chaucer Society in 1868 to publish old manuscripts. Furnivall's preparatory efforts lasted 21 years and provided numerous texts for the use and enjoyment of the general public, as well as crucial sources for lexicographers, but they did not actually involve compiling a dictionary. Furnivall recruited more than 800 volunteers to read these texts and record quotations. While enthusiastic,
14910-590: The recovery of Phoenician trade in the 10th and 9th centuries BC that led to a return to prosperity, and the appearance of real coinage, possibly first in Anatolia with Croesus of Lydia and subsequently with the Greeks and Persians. In Africa, many forms of value store have been used, including beads, ingots, ivory , various forms of weapons, livestock, the manilla currency , shell money , and ochre and other earth oxides. The manilla rings of West Africa were one of
15052-503: The redemption of those shares in a paper. But there were also disadvantages. First, since a note has no intrinsic value, there was nothing to stop issuing authorities from printing more notes than they had specie to back them with. Second, because this increased the money supply, it increased inflationary pressures, a fact observed by David Hume in the 18th century. Thus paper money would often lead to an inflationary bubble, which could collapse if people began demanding hard money, causing
15194-481: The regime of floating fiat currencies came into force. One of the last countries to break away from the gold standard was the United States in 1971, an action which was known as the Nixon shock . No country has an enforceable gold standard or silver standard currency system. A banknote or a bill is a type of currency and it is commonly used as legal tender in many jurisdictions. Together with coins , banknotes make up
15336-428: The relative values of the different currencies. Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance; i.e., legal tender laws may require a particular unit of account for payments to government agencies. Other definitions of the term currency appear in the respective synonymous articles: banknote , coin , and money . This article uses
15478-420: The reserves of the central banks of each country. The exchange rate mechanism, in which currencies are quoted continuously between countries, is based on foreign exchange markets in which currencies are invested by individuals and traded or speculated by central banks and investment institutions. In addition, changes in interest rates, capital market fluctuations and changes in investment opportunities will affect
15620-399: The second supplement; Charles Talbut Onions turned 84 that year but was still able to make some contributions as well. The work on the supplement was expected to take about seven years. It actually took 29 years, by which time the new supplement (OEDS) had grown to four volumes, starting with A , H , O , and Sea . They were published in 1972, 1976, 1982, and 1986 respectively, bringing
15762-619: The southeast. It is not known what was used as a currency for these exchanges, but it is thought that oxhide-shaped ingots of copper, produced in Cyprus , may have functioned as a currency. It is thought that the increase in piracy and raiding associated with the Bronze Age collapse , possibly produced by the Peoples of the Sea , brought the trading system of oxhide ingots to an end. It was only
15904-526: The start of the alphabet where the fascicles were decades old. The supplement included at least one word ( bondmaid ) accidentally omitted when its slips were misplaced; many words and senses newly coined (famously appendicitis , coined in 1886 and missing from the 1885 fascicle, which came to prominence when Edward VII 's 1902 appendicitis postponed his coronation ); and some previously excluded as too obscure (notoriously radium , omitted in 1903, months before its discoverers Pierre and Marie Curie won
16046-439: The supply-demand relationship of different currencies determines the exchange ratio between currencies. Trade in goods and services Through cost transfer, goods and services circulating in the country (such as hotels, tourism, catering, advertising, household services) will indirectly affect the trade cost of goods and services and the price of export trade. Therefore, services and goods involved in international trade are not
16188-432: The sustainability of international balance of payments but also affects the government's direct control over international economic transactions. To eliminate the foreign exchange shortage, the government needs adequate international reserves. The level of exchange rate is an important factor in maintaining exchange rate stability, both before and after currency convertibility. The exchange rate of freely convertible currency
16330-592: The time of the Mahajanapadas . The exact ratios between the values of the three metals varied greatly between different eras and places; for example, the opening of silver mines in the Harz mountains of central Europe made silver relatively less valuable, as did the flood of New World silver after the Spanish conquests . However, the rarity of gold consistently made it more valuable than silver, and likewise silver
16472-510: The time of the second edition's publication, meaning that thousands of words were marked as current despite no recent evidence of their use. Accordingly, it was recognized that work on a third edition would have to begin to rectify these problems. The first attempt to produce a new edition came with the Oxford English Dictionary Additions Series, a new set of supplements to complement the OED2 with
16614-512: The two metals. In 1828, platinum coins were introduced with 1 ruble equal to 77 2 ⁄ 3 dolya (3.451 grams). On 17 December 1885, a new standard was adopted which did not change the silver ruble but reduced the gold content to 1.161 grams, pegging the gold ruble to the French franc at a rate of 1 ruble = 4 francs. This rate was revised in 1897 to 1 ruble = 2 2 ⁄ 3 francs (17.424 dolya or 0.77424 g fine gold). This ruble
16756-481: The use of this denomination (equal to 1 złoty ) in Poland, whilst, in 1869, gold 3 rubles were introduced. In 1886, a new gold coinage was introduced consisting of 5 and 10 ruble coins. This was followed by another, in 1897. In addition to smaller 5 and 10 ruble coins, 7 + 1 ⁄ 2 and 15 ruble coins were issued for a single year, as these were equal in size to the previous 5 and 10 ruble coins. The gold coinage
16898-422: The user would have been for the entire dictionary to be re-edited and retypeset , with each change included in its proper alphabetical place; but this would have been the most expensive option, with perhaps 15 volumes required to be produced. The OUP chose a middle approach: combining the new material with the existing supplement to form a larger replacement supplement. Robert Burchfield was hired in 1957 to edit
17040-466: The volunteers were not well trained and often made inconsistent and arbitrary selections. Ultimately, Furnivall handed over nearly two tons of quotation slips and other materials to his successor. In the 1870s, Furnivall unsuccessfully attempted to recruit both Henry Sweet and Henry Nicol to succeed him. He then approached James Murray , who accepted the post of editor. In the late 1870s, Furnivall and Murray met with several publishers about publishing
17182-399: The world, local currency can be converted to another currency or vice versa with or without central bank/government intervention. Such conversions take place in the foreign exchange market . Based on the above restrictions or free and readily conversion features, currencies are classified as: According to the three aspects of trade in goods and services , capital flows and national policies,
17324-423: The world. In 1857, work first began on the dictionary, though the first edition was not published In until 1884. It began to be published in unbound fascicles as work continued on the project, under the name of A New English Dictionary on Historical Principles; Founded Mainly on the Materials Collected by The Philological Society . In 1895, the title The Oxford English Dictionary was first used unofficially on
17466-538: Was a Yale University-trained surgeon and a military officer in the American Civil War who had been confined to Broadmoor Asylum for the Criminally Insane after killing a man in London. He invented his own quotation-tracking system, allowing him to submit slips on specific words in response to editors' requests. The story of how Murray and Minor worked together to advance the OED was retold in
17608-663: Was a form of receipt, representing grain stored in temple granaries in Sumer in ancient Mesopotamia and in Ancient Egypt . In this first stage of currency, metals were used as symbols to represent value stored in the form of commodities. This formed the basis of trade in the Fertile Crescent for over 1500 years. However, the collapse of the Near Eastern trading system pointed to a flaw: in an era where there
17750-409: Was abandoned in favour of the old one. In 1704 Peter the Great finally reformed the old Russian monetary system, minting a silver ruble coin of weight 28.1 g (0.90 ozt) and 72% fineness; hence 20.22 g fine silver. The decision to subdivide it primarily into 100 copper kopeks, rather than 200 Muscovite denga, made the Russian ruble the world's first decimal currency. The amount of silver in
17892-419: Was called for, and for this reason it was decided to embark on a new, complete revision of the dictionary. Beginning with the launch of the first OED Online site in 2000, the editors of the dictionary began a major revision project to create a completely revised third edition of the dictionary ( OED3 ), expected to be completed in 2037 at a projected cost of about £ 34 million. Revisions were started at
18034-431: Was completed, it was clear that the full text of the dictionary would need to be computerized. Achieving this would require retyping it once, but thereafter it would always be accessible for computer searching—as well as for whatever new editions of the dictionary might be desired, starting with an integration of the supplementary volumes and the main text. Preparation for this process began in 1983, and editorial work started
18176-559: Was consistently worth more than copper. In premodern China , the need for lending and for a medium of exchange that was less physically cumbersome than large numbers of copper coins led to the introduction of paper money , i.e. banknotes . Their introduction was a gradual process that lasted from the late Tang dynasty (618–907) into the Song dynasty (960–1279). It began as a means for merchants to exchange heavy coinage for receipts of deposit issued as promissory notes by wholesalers ' shops. These notes were valid for temporary use in
18318-480: Was created during the 7th–12th centuries on the basis of the expanding levels of circulation of a stable high-value currency (the dinar ). Innovations introduced by Muslim economists, traders and merchants include the earliest uses of credit , cheques , promissory notes , savings accounts , transaction accounts , loaning , trusts , exchange rates , the transfer of credit and debt , and banking institutions for loans and deposits . In Europe, paper currency
18460-409: Was estimated from a sample calculation to amount to 17% of the foreign loan words and words from regional forms of English. Some of these had only a single recorded usage, but many had multiple recorded citations, and it ran against what was thought to be the established OED editorial practice and a perception that he had opened up the dictionary to "World English". By the time the new supplement
18602-532: Was first introduced on a regular basis in Sweden in 1661 (although Washington Irving records an earlier emergency use of it, by the Spanish in a siege during the Conquest of Granada ). As Sweden was rich in copper, many copper coins were in circulation, but its relatively low value necessitated extraordinarily big coins, often weighing several kilograms. The advantages of paper currency were numerous: it reduced
18744-605: Was never minted in numbers, and never circulated in public. Its existence became known in 1857 in foreign publications. In 1768, during the reign of Catherine the Great , the Russian Assignation Bank was instituted to issue the government paper money. It opened in Saint Petersburg and in Moscow in 1769. In 1769, Assignation rubles were introduced for 25, 50, 75 and 100 rubles, with 5 and 10 rubles added in 1787 and 200 rubles in 1819. The value of
18886-507: Was no place that was safe to store value, the value of a circulating medium could only be as sound as the forces that defended that store. A trade could only reach as far as the credibility of that military. By the late Bronze Age , however, a series of treaties had established safe passage for merchants around the Eastern Mediterranean , spreading from Minoan Crete and Mycenae in the northwest to Elam and Bahrain in
19028-448: Was not a list of unregistered words; instead, it was the study On Some Deficiencies in our English Dictionaries , which identified seven distinct shortcomings in contemporary dictionaries: The society ultimately realized that the number of unlisted words would be far more than the number of words in the English dictionaries of the 19th century, and shifted their idea from covering only words that were not already in English dictionaries to
19170-423: Was not until the mid 13th century that a standard and uniform government issue of paper money became an acceptable nationwide currency. The already widespread methods of woodblock printing and then Bi Sheng 's movable type printing by the 11th century were the impetus for the mass production of paper money in premodern China. At around the same time in the medieval Islamic world , a vigorous monetary economy
19312-479: Was printed in 20 volumes, comprising 291,500 entries in 21,730 pages. The longest entry in the OED2 was for the verb set , which required 60,000 words to describe some 580 senses (430 for the bare verb, the rest in phrasal verbs and idioms). As entries began to be revised for the OED3 in sequence starting from M, the record was progressively broken by the verbs make in 2000, then put in 2007, then run in 2011 with 645 senses. Despite its considerable size,
19454-601: Was reached; both the Cambridge University Press and the Oxford University Press were approached. The OUP finally agreed in 1879 (after two years of negotiating by Sweet, Furnivall, and Murray) to publish the dictionary and to pay Murray, who was both the editor and the Philological Society president. The dictionary was to be published as interval fascicles, with the final form in four volumes, totalling 6,400 pages. They hoped to finish
19596-629: Was replaced by the Soviet ruble ( ISO 4217 code: SUR) which, issued by the State Bank of the USSR , remained the sole currency of the Soviet Union, until its breakup in 1991. Afterwards, it continued to be used in the 15 Post-Soviet states until it was replaced by new national currencies: Since 2000, the Russian ruble (code: RUB) and the Belarusian ruble (code: BYN) have been the only ruble currencies in circulation that have been issued by internationally recognized countries. The ruble sign “ ₽ ”
19738-568: Was suspended in 1911, with the other denominations produced until the First World War. The Constantine ruble (Russian: константиновский рубль , konstantinovsky rubl' ) is a rare silver coin of the Russian Empire bearing the profile of Constantine , the brother of emperors Alexander I and Nicholas I . Its manufacture was being prepared at the Saint Petersburg Mint during the brief Interregnum of 1825 , but it
19880-421: Was the Russian equivalent of the mark , a measurement of weight for silver and gold used in medieval Western Europe. The weight of one ruble was equal to the weight of one grivna . In Russian, a folk name for ruble, tselkovyj (целковый, IPA: [tsɨlˈkovɨj] , wholesome), is known, which is a shortening of the целковый рубль ("tselkovyj ruble"), i.e., a wholesome, uncut ruble. This name persists in
20022-633: Was to assure the individual accepting the coin that he was getting a certain known weight of precious metal. Coins could be counterfeited, but the existence of standard coins also created a new unit of account , which helped lead to banking . Archimedes' principle provided the next link: coins could now be easily tested for their fine weight of the metal, and thus the value of a coin could be determined, even if it had been shaved, debased or otherwise tampered with (see Numismatics ). Most major economies using coinage had several tiers of coins of different values, made of copper, silver, and gold. Gold coins were
20164-463: Was worth about US$ 0.5145 in 1914. With the outbreak of World War I , the gold standard peg was dropped and the ruble fell in value, suffering from hyperinflation in the early 1920s. With the founding of the Soviet Union in 1922, the Russian ruble was replaced by the Soviet ruble. The pre-revolutionary Chervonetz was temporarily brought back into circulation from 1922 to 1925. By the beginning of
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