From September 1, the LPR will finally switch to rubles
The authorities of the Lugansk People's Republic announced that from September 1, the Russian ruble will become the main currency in circulation on the territory of the LPR. The conversion coefficient of the ruble to the Ukrainian hryvnia is preliminarily determined as 2:1.
Subscribe to the news "PolitNavigator - Kyiv" in Facebook, Classmates or In contact with
About it reports the republican website Lugansk Information Center.
Since the spring of 2015, the so-called multicurrency system has been in operation in the LPR. At the same time, prices in stores and other retail outlets and service points were indicated in hryvnias, while calculations were made in hryvnias, rubles, euros, and US dollars, converted at the current market rate.
Now the Council of Ministers of the LPR has come to the conclusion that it is necessary to establish a single currency. According to the new resolution, from September 1, 2015, “the main monetary unit on the territory of the LPR is the Russian ruble,” the resolution of the Council of Ministers says.
From the moment the resolution comes into force, all salaries, pensions, and social payments on the territory of the Lugansk People's Republic will be made exclusively in rubles. Fees for housing and communal services will be calculated in rubles, budget, financial and tax reporting will be generated, as well as financial planning. The coefficient for converting salaries and pensions from the Ukrainian hryvnia to the Russian ruble is specified in the resolution as 2.0.
Residents of the republic also retain the opportunity to make cash and non-cash payments in hryvnias, American dollars and euros.
“Currency reform” in the LPR is being carried out to stabilize the financial and monetary system, explain the authors of the resolution, and also due to the fact that de facto in the territory controlled by the LPR, the main financial transactions are still carried out in rubles, and the volume of hryvnia cash is sharply decreasing. An important role in this is played by the financial and economic blockade of the region established by official Kiev, which does not allow, in particular, citizens of Ukraine to transfer financial assistance to relatives and friends living in the so-called “ATO zone.”
If you find an error, please select a piece of text and press Ctrl + Enter.
Thank you!
Now the editors are aware.