About the Russian Ruble
The current Russian Ruble was introduced in 1998, replacing the previous ruble at a rate of 1,000 old rubles to 1 new ruble. This redenomination aimed to stabilize the currency after periods of high inflation.
The word 'Ruble' is derived from the Russian word 'rubit', meaning 'to chop', possibly referring to a piece chopped off a silver ingot.
Interesting Facts
A Petrocurrency
The Russian Ruble is heavily influenced by global oil and natural gas prices, as these commodities are Russia's primary exports.
Cities on Banknotes
The banknotes of the current series feature famous cities of Russia and their landmarks, such as Moscow's Bolshoi Theatre and St. Petersburg's Peter and Paul Fortress.
Volatile History
The Ruble has a history of significant volatility, including periods of hyperinflation and sudden devaluations, often tied to political and economic events.
Historical Timeline
Dissolution of the Soviet Union, leading to the re-emergence of the Russian Ruble.
The current Russian Ruble (RUB) is introduced with a redenomination.
The official ruble symbol (₽) is introduced.
International sanctions lead to significant volatility in the ruble's value.
Denominations
Banknotes
Coins
Security Features
Quick Facts
- ISO Code
- RUB
- Symbol
- ₽
- Numeric Code
- 643
- Subunit
- Kopek (1/100)
- Introduced
- 1998-01-01
Central Bank
- Name
- Bank of Russia
- Headquarters
- Moscow, Russia
- Founded
- 1860
- Current Governor
- Elvira Nabiullina (since 2013)
Economic Data
- Reserve Currency Share
- 0.1%
- Forex Volume Share
- 1.1%
- Inflation Rate
- 8.3%
- Interest Rate
- 16.00%
Exchange Rates
What Affects the RUB Exchange Rate?
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