up restrictions on the flow of credit between Russia and other states. The final collapse of the "ruble zone" began with the exchange of banknotes by the Central Bank of Russia on Russian territory at the end of July 1993. As a result, other countries still in the ruble zone (Kazakhstan, Uzbekistan, Turkmenistan, Moldova, Armenia and Georgia) were "pushed out". By November 1993 all newly independent states had introduced their own currencies, with the exception of war-torn Tajikistan (May 1995) and unrecognized Transnistria (1994). Due to ruinous inflation in the former Soviet Republics, most of the successor currencies had to be redenominated at least once, with the notable exceptions of the Armenian dram, Estonian kroon, Kazakh tenge, and Kyrgyz som. Details on the introduction of new currencies in the newly independent states are discussed below. See also Hyperinflation in early Soviet Russia List of commemorative coins of the Soviet Union Footnotes External links Leon Trotsky. The Revolution Betrayed. Chapter 4 - The Struggle for Productivity of Labor, associated with the issuence of the ruble, 1936 A commercial site with some relevant historical information Catalog of USSR Banknotes from 1922 Historical banknotes of the Soviet Union (incl. Banknotes of the successor States of the USSR) Economy of the Soviet Union Currencies of Asia Currencies of Europe Currencies of Russia Modern obsolete currencies Post-Soviet states 1921 establishments in Russia 1991 disestablishments in the Soviet Union