Monetary reform in the Soviet Union, 1961

A monetary reform of the Soviet ruble, also known as the Khrushchev reform (after Nikita Khrushchev, the Soviet leader at the time), took place on 1 January 1961.

The first part of the reform was to redenominate the ruble at a ratio of 10 to 1.

The 1961 monetary reform was the last time during the Soviet era in which ruble was redenominated.

The next (and most recent) redenomination of the Russian ruble, at a ratio of 1000 to 1, took place on 1 January 1998 – eight years after the dissolution of the Soviet Union.

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