Ruble to become main currency in LNR on Sept. 1

The council of ministers of the self-declared Lugansk People's Republic (LNR) has decreed that the Russian ruble will become the main monetary unit on the territory of the LNR starting on September 1.

The council of ministers of the self-declared Lugansk People's Republic (LNR) has decreed that the Russian ruble will become the main monetary unit on the territory of the LNR starting on September 1.

"For the purposes of taking measures to stabilize the monetary system, and also in connection with the conduct of financial operations predominantly in Russian rubles on the territory of the Lugansk People's Republic and the sharp decline of the hryvnia cash supply… to order that the main monetary unit on the LNR is the Russian ruble," the LPR council of ministers said in a decree, the text of which was published on the website of the Lugansk information center.

According to the document, on the territory of LNR, "the circulation of the Ukrainian currency - hryvnia, U.S. dollars and euro is permitted, and also transactions in cash or non-cash forms in hryvnia, U.S. dollars and euro."

"The payment of public sector salaries, pensions and other social payments, set in accordance with the current legislation, is carried out in Russian rubles," the decree said.

Read more: The ruble’s journey through time, from the Middle Ages to the present day>>>

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