How did the decline in the value of Ruble, the Russian currency, affect the people of Russia and their country ?

The implementation of shock therapy post the disintegration of the USSR had severe implications on the country’s economy. The value of the Russian currency ‘Ruble’ declined dramatically and made the inflation rate extremely high. This caused the Russian people to lose their savings. It caused disintegration of the collective farm system and left the Russian people without food security. Without a proper alternative in place, the old trading structure also broke down. The devaluation of the ‘Ruble’ caused the Russian GDP to be lower in 1999 than its 1989 rate.