Thursday, February 23, 2012
Estonia Inflation 1991-93 Part II
Inland rate was raised again already on 15th of January 1992. Regular letter raised from 20 kopecks to 60 and registered from 70 kopecks to 420 kopecks (4 roubles 20 kopecks, 6x raise). A lot of stamps were required on envelope to get together correct rates.
As a sidenote, at the worst period Estonia had 300% hyperinflation!
Another new rate came in 16th of March 1992. Inland regular letter 1 roubles (100 kopecks), registered to 10 roubles (1000 kopecks). But rates for foreign destionations were raised considerably more. Regular letter more than 20 times, from 90 kopecks to 2000 kopecks! In addition, registering fee was raised. New zones were introduced, A and B zone, with a double difference in rates.
New stamps were introduced on the same day rates were raised. These stamps were with letter nominations - PPE, PPR, PPI, PPA.
1 rouble, 10R, 20R, 40R. These were mainly meant for foreign shippements. But even here unless letter was regular 20gr weight, additional stamps were required.
In 20th of June 1992 there was a currency reform. I still remember the suprise and confusion - in the end, since only a certain amount of soviet currency was allowed to be exchanged per person, our family was starting at the pile of roubles left over on a table in awe and shock.
Soviet currency became invalid and a new currency was kroon. Rate was 1/10 in favor of kroon. Which meant all nominations of previous rouble-value stamps fell 10 times. New nominations came in usage - 0.5, 1, 1.5, 3 senti (cents) etc.
Considering rates of regular letter, 10s and registered letter 1KR, these stamps became insignificant with their franking ability.
Another set of letter stamps were introducted on the same day with a currency reform.
Two days later, on 22nd of June, a set of three semi-postal stamps of Barcelona Olympics were issued.
These stamps had no currency indicator. In addition to charity value, lack of this created confusion in people. Green, 3.00+1.50 value was printed in smaller quantity, became deficit and was speculated with.
In the end of 1992 summer more letter-stamps were issued. Three PPX (franking 10s) and three PPZ (franking 30s).
In 15th of November 1992 inland rates were raised again, especially concerning regular letter rate which tripled, from 10s to 30s.
But already on 1st of January 1993, inland regular letter rate was raised even more.
All of these stamps shown and mentioned became invalid in 1st of July 1993.