10 Chervontsev

The Emissionniy Bank in Kiev was established by the German occupation authorities in 1941 to manage currency in the occupied Ukrainian territories. This 10 Chervontsev note is among the more obscure issues of the Reichskommissariat Ukraine period — the chervonets denomination was deliberately retained to ease public acceptance, borrowing the name of the Soviet unit rather than introducing unfamiliar German-denominated paper.

Printing in Kiev itself was logistically precarious; the city had fallen to German forces in September 1941 after one of the largest encirclement battles of the Eastern Front, and the press infrastructure was hastily repurposed under occupation administration. Survival rates for this series are low, partly due to the chaotic Soviet reoccupation in November 1943.