Definition of chervonets in English:

1A pre-Revolutionary Russian gold coin, worth three roubles.

1. 1.1 A currency note introduced by the Bolsheviks in 1922, worth ten roubles.
   切尔逢涅茨银行券（1922年由布尔什维克当局发行，相当于10卢布）
   Example sentencesExamples

   • In 1924 the exchange rate of the new soviet karbovanets against the chervonets was set equal to 1: 10.
   • In circulation were the Soviet chervonets and the rubles designed to portray the symbols of the Soviet ideology.
   • ‘Withdrawing some amount of rubles from circulation and replacing them with chervontsy minted in the former Soviet Union… is not a bad combination,’ wrote Bykov.
   • Because the new economy was backed by gold, the demand for the chervonets was high and it became the sole currency in February 1924.
   • The issue of the chervonets marked the beginning of the monetary reform that ended spiralling post-war inflation.
   • The State Bank reopens and is empowered to issue a new ruble, the chervonets, backed by gold reserves and a balanced state budget.
   • 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.
   • It was not until June 18th that Victor Gerashenko, the head of the Central Bank of Russia, announced his plans to make chervonets into a real currency.
   • All the better, if the chervonets manages to crowd out the U.S. dollar and Russians start using it as an alternative savings currency.