Transnistria is a breakaway state governed by the Pridnestrovian Moldavian Republic. Nestled in the narrow strip of land that parts the Dniester river and the Ukrainian border in southeastern Europe, Transnistria is a disputed state since it declared its independence on September 2, 1990, which led to a war in 1992.
With a mixed economy based on electricity, textile, and steel production, the state has contributed 40% of the Gross Domestic Product of Moldova as well as 90% of its electricity. Transnistria has a central bank of its own, the Transnistrian Republican Bank, that’s responsible for issuing the Transnistrian ruble.
Before the nation started using its own currency, Soviet notes were in circulation. When other former Soviet Union member states established their own currencies, the country was swamped by the Soviet rubles. Hence, in July 1993, the state bought Soviet and Russian banknotes printed by Goznak and stamped them with an image of General Alexander Vasilyevich Suvorov. On August 22, 1994, these provisional issues were replaced by coupon rubles. When the state experienced hyperinflation, higher denominations were issued. Additionally, when there was a shortage of cash, old 5-couple ruble notes were overprinted with a crude hologram bearing its new value of 50,000 coupon rubles.
At the onset of 2001, a new ruble was introduced, replacing the old ruble. Notes from this series feature prominent personalities of Transnistria. On December 22, 2007, a new set of notes was released, bearing the same people and places as with the preceding issues but with enhanced security features such as a windowed security thread.