The Currency of Russian Federation: A Comprehensive Guide

The Russian Federation's currency is the Ruble, which is subdivided into 100 kopeks.

The Ruble is issued by the Central Bank of Russia, which is responsible for managing the country's monetary policy.

The Ruble was introduced in 1992, replacing the Soviet ruble, and has undergone several revaluations since then.

In 2014, the Ruble experienced a significant devaluation due to economic sanctions imposed by the United States and the European Union.

The Russian ruble or rouble is the currency of the Russian Federation, the partially recognized republics of Abkhazia and South Ossetia, and the unrecognized republics of Donetsk and Luhansk.

You can exchange your local currency to Russian Ruble in your home country, but it's not always possible, so don't worry if you can't. You can exchange money on the spot in Russia, and it's a good idea to exchange your cash somewhere in the city, like a local bank or currency exchange office, as rates in airports aren't usually good.

The Russian ruble is made up of 100 kopeks, and it's the second-oldest currency still in circulation, behind the British pound.

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The Russian Ruble has a rich history dating back to the 13th century, making it one of the world's oldest currencies.

The ruble was initially a unit of weight, but by the 17th century, it became a currency with a silver coin called the kopek. The weight of a kopek coin reduced to 0.48g in the 17th century, making one ruble equal to 48g of silver.

The Russian Ruble was decimalized in 1704, becoming the world's first decimal currency, with a silver ruble coin weighing 28.1g and 72% fineness. The ruble was also the first currency in Europe to be decimalized.

In the 18th century, the amount of silver in a ruble varied, and coins worth over a ruble were minted in gold and platinum. The ruble was set to 4 zolotnik 21 dolya of pure silver or 27 dolya of pure gold in the late 18th century.

The Russian Ruble has undergone many changes, including the introduction of paper money in 1768, with Assignation rubles being introduced for 25, 50, 75, and 100 rubles. The value of Assignation rubles fell relative to coins until 1839, when the relationship was fixed at 1 silver ruble = 3+1⁄2 assignat rubles.

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The Russian Ruble has a rich history dating back to the 13th century during the medieval Russian period. It was one of the world's oldest currencies, and its name comes from the verb "rubit", meaning "to chop", referencing the way people would chop up a larger currency to make smaller coins.

The ruble was initially a unit of weight, and its value was based on the weight of silver coins, with one account ruble consisting of 100 Novgorod or 200 Moscow dengi. The weight of a denga silver coin was unstable and inflating, but by 1535, one Novgorod denga weighed 0.68g (0.022ozt).

The first decimal currency in Europe was introduced in 1704, when Peter the Great reformed the old Russian monetary system, minting a silver ruble coin of weight 28.1g (0.90ozt) and 72% fineness. The decision to subdivide it primarily into 100 copper kopeks made the Russian ruble the world's first decimal currency.

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In the 18th century, the amount of silver in a ruble varied, and coins worth over a ruble were minted in gold and platinum. By the end of the 18th century, the ruble was set to 4 zolotnik 21 dolya (or 421⁄96zolotnik, almost exactly equal to 18grams) of pure silver or 27 dolya (almost exactly equal to 1.2g (0.039ozt)) of pure gold.

The Russian Assignation Bank was instituted in 1768 to issue government paper money, introducing Assignation rubles for 25, 50, 75, and 100 rubles. The value of the Assignation rubles fell relative to the coins until, in 1839, the relationship was fixed at 1 silver ruble = 3+1⁄2 assignat rubles.

The State Commercial Bank issued 3, 5, 10, 25, 50, and 100 ruble notes in 1840, followed by 50 ruble credit notes of the Custody Treasury and State Loan Bank. In 1843, the Assignation Bank ceased operations, and state credit notes were introduced in denominations of 1, 3, 5, 10, 25, 50, and 100 rubles.

The Provisional Government issued treasury notes for 20 and 40 rubles in 1917, known as "Kerenki" or "Kerensky rubles". These notes were an attempt to stabilize the currency during a time of great economic turmoil.

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The Soviet Union had its own currency, the Soviet ruble, which was introduced in 1922 and remained in use until the breakup of the Soviet Union in 1991. It was issued by the State Bank of the USSR.

The Soviet ruble had a specific ISO 4217 code, SUR, which helped identify it internationally. The currency remained the sole currency of the Soviet Union until its dissolution.

In 1991, the Soviet Union broke apart, and the Soviet ruble continued to be used in the 15 Post-Soviet states.

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In 2014, a State Duma deputy named Roman Khudyakov sparked a controversy over the 100 ₽ banknote, claiming that the image of Apollo on it constitutes pornography.

Khudyakov's request to change the design was met with no success, and the banknote remains unchanged.

The Russian Orthodox Church also weighed in on the controversy, criticizing the design of the 1,000 ₽ note unveiled in 2023.

The Church's objection was to the inclusion of the Islamic crescent on one of the buildings, while an Orthodox cross was excluded from another building.

As a result of the backlash, the Bank of Russia announced that the design would be revised, and the notes would not be printed.

The Russian ruble has had its fair share of denominations over the years. The current banknotes are issued in denominations ranging from 5 to 5,000 rubles.

The obverse of the banknotes features images of structures and monuments, such as a bridge over the Yenisey River in Krasnoyarsk, the Bolshoi Theatre building in Moscow, and a monument to Peter the Great in Arkhangelsk.

In the past, the Russian Assignation Bank issued banknotes in denominations of 25, 50, 75, and 100 rubles in 1769, with 5 and 10 rubles added in 1787 and 200 rubles in 1819.

Here's a breakdown of the denominations of the Russian ruble over the years:

The Russian ruble has undergone many changes over the years, but the current denominations are a far cry from the early issues.

RUR banknotes are a fascinating topic, and I'm excited to share some interesting facts with you.

The current Russian ruble banknotes are issued in denominations ranging from 5 to 5,000 rubles, featuring images of structures and monuments on the obverse.

In 1961, new State Treasury notes were introduced for 1, 3, and 5 rubles, along with new State Bank notes worth 10, 25, 50, and 100 rubles.

The 1992 issue of notes was notable for bearing the name of the USSR before the Russian Federation introduced 5,000 and 10,000-ruble notes.

Here's a breakdown of the RUR series banknotes:

The lack of portraits on Russian ruble banknotes is a notable feature, which was partially alleviated with the issue of the 500-ruble note depicting a statue of Peter I and the 1,000-ruble note depicting a statue of Yaroslav.

The 100 ₽ note controversy is a fascinating example of how a simple banknote design can spark heated debates. In 2014, State Duma deputy Roman Khudyakov alleged that the image of the Greek god Apollo on the 100 ₽ banknote constitutes pornography.

Khudyakov's request to change the design of the banknote was forwarded to the Governor of the Bank of Russia, Elvira Nabiullina, but his efforts were unsuccessful. The image of Apollo remains on the 100 ₽ banknote to this day.

The controversy surrounding the 100 ₽ note is just one example of how banknote designs can be scrutinized and criticized. It's a reminder that even the smallest details can have a significant impact on our perceptions and values.

In contrast to the 100 ₽ note controversy, the 1,000 ₽ note has been criticized for its exclusion of the Orthodox cross from a former church building, while including the Islamic crescent on a different building. This design choice sparked a heated debate and led to the Bank of Russia announcing that the design would be revised.

Here's a brief summary of the 100 ₽ note controversy: