By Yana Kozhaga
What is money? This is the equivalent of the value in an abstract unit. In Tuva (then the republic existed as the Tuvan People’s Republic), this unit was called “Aksha” and was minted on 1st January, 1936.
On the 25th July, 1925, Tuvinbank was founded. The bank executive manager Tanchay Charandai Oglu Oyun officially launched Tuvan currency. And Tuvinbank joined the State Bank of the USSR. Aksha was produced in the Moscow Mint. Goznak USSR Banknotes made about two million Aksha for the People’s Republic of China.
On the 11th August, 1939 the government of the People’s Republic of China approved the drawing of new banknotes.
Since 1st March, 1941, banknotes of the 1940 model have been issued with denominations of 1, 3, 5, 10 and 25 Aksha.
Exchange of old-style banknotes continued until September 1, 1941. 1 Aksha cost 1 Ruble 35 Kopecks.
What was before the aksha? Barter prevailed. Arats handed furs, cattle, agricultural raw materials over to private firms, and in exchange received industrial goods. In the statehood period, Tuva used Soviet Rubles and paper Chervontsi, Chinese Yuan, Mongolian Tugriks.
TPR entered the USSR in 1944, leaving its independent state. Therefore, the country stopped using its domestic currency and state symbols. Aksha was used for 9 years, from 1936-1944.
This brief experience of issuing domestic bank notes is unique in Tuva’s ancient history. Until 1936, Chinese Yuan, Mongolian Tugriks and Soviet Rubles with a special stamp were in circulation. After 1944, the Aksha was changed to Soviet Ruble, and numismatists fascinate themselves with the Aksha as a remnant of a bygone age.
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