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Деноминация

English translation: denomination/denominated/non-denominated

15:44 Dec 5, 2000
Russian to English translations [Non-PRO]
Bus/Financial
Russian term or phrase: Деноминация
On January 1, 1998, the value of the Russian ruble has been lowered 1000-fold, by dropping the last three zeros. Russian financial documents refer to this deed as “Деноминация (Denomination)”, and to the currency itself as “деноминированные рубли” and Неденоминированные рубли”. Would the terms “Devaluation”, “Devaluated and Non-devaluated rubles” work? Or would it be “Denomination, denominated and non-denominated rubles”?

Thanks.
Mike
M. Moskowitz
English translation:denomination/denominated/non-denominated
Explanation:
At that time, the Russian government changed the face value of BANKNOTES only, not the value of Rouble itself.
Selected response from:

alrom
Estonia
Local time: 06:38
Grading comment
Graded automatically based on peer agreement.
4 KudoZ points were awarded for this answer



Summary of answers provided
na +1denomination/denominated/non-denominated
alrom
naRe-denomination/new & old rubles
Dm_Ch (X)
naDenomination
Dimlivanov
naredenomination
Hristina


  

Answers


26 mins peer agreement (net): +1
denomination/denominated/non-denominated


Explanation:
At that time, the Russian government changed the face value of BANKNOTES only, not the value of Rouble itself.

alrom
Estonia
Local time: 06:38
Native speaker of: Native in EnglishEnglish, Native in RussianRussian
Grading comment
Graded automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
artyan
agree  Kirill Semenov
866 days
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6 hrs
Re-denomination/new & old rubles


Explanation:
Yes, alrom is right about the fact the ruble itself was not devaluated, it is only about removing the awkward three zeros, but the English term denomination means the different thing (a name, nomination, value of a bill), while the process itself is called re-denomination (hyphen is optional). Neither there are such terms as "denominated" or "non-denominated rubles". Instead, simply "old/new rubles" is used. You can see quite detailed analysis of the event, if you follow the link below, or by entering the words "ruble" and "denomination" into a search engine.
HTH


    Reference: http://washingtonpost.com/wp-srv/inatl/longterm/russiagov/st...
Dm_Ch (X)
Local time: 06:38
Native speaker of: Native in RussianRussian
PRO pts in pair: 16
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9 hrs
Denomination


Explanation:
"Devaluation" is "девальвация" and means reduction of a monetary unit's value.

Dimlivanov
Russian Federation
Local time: 06:38
Native speaker of: Native in RussianRussian
PRO pts in pair: 8
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152 days
redenomination


Explanation:
The other term for that is "revalorization of currency", or "currency revalorization":


"In a country whose currency has suffered a severe devaluation, the act of the government is replacing its standard currency unity by a new unit equal to 100 or 1000 of the old. For example in 1959 revalorized the franc, so that 1 new franc was equal to 100 old francs" - this is the explanation in Longman Business Dictionary.

I am a Bulgarian national. About two years ago, our government took the decision to 'remove' the last three 'digits' of our national currency, the lev. With this, 1000 old Bulgarian levs "became" 1 lev. In most of the IMF documents relating to Bulgaria, the word 'redenomination' is used to signify this process.

In Bulgarian, just like in Russian, we use the word 'деноминация' for this.


    Longman Business Dictionary
Hristina
Local time: 05:38
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