Russian Ruble

About The Russian Ruble: The Currency of Russian Federation

Quick Facts About the Russian Ruble Notes

Country of Origin	Russia
Symbol	₽
Currency Code	RUB
Nick Names	Som/sum and manat
Minor units	Kopeyka
Denominations (Banknotes)	5₽, 10₽, 50₽, 100₽, 200₽, 500₽, 1,000₽, 2,000₽ and 5,000₽
Motto
Identification Feature	500 rubles show a statue of Peter I, while 1,000 rubles have a statue of Yaroslav.
Issuing Bank	Bank of Russia
In Circulation Since	August 17, 1998
INR Exchange Rate	1.15 🔄

The Russian national currency is the ruble, which may alternatively be spelt as the rouble. One ruble is equal to one hundred kopecks. In September 1993, the first Russian ruble was issued as a straight replacement for the Soviet ruble. Following the pound sterling as the second-oldest currency that is still in circulation today is the ruble. As a result of the fact that Russia is one of the main exporters of oil and natural gas in the world, the value of the ruble tends to rise and decrease in unison with the price of oil on the global market. In the winter of 2021, the Bank of Russia began conducting tests on a digital ruble prototype in order to prepare for its eventual introduction. The Russian ruble symbol is ₽.

The live Russian Ruble rate is INR (1.15 🔄) . You can keep an eye on the real-time Russian Ruble price as per the Russian ruble news.

History of the Russian Ruble

When the Soviet Union ceased to exist in 1991, the Russian Federation continued to utilise the Soviet ruble as its currency. The Bank of Russia issued a new set of coins in 1992, and in 1993, it printed new banknotes. Both sets of Russian ruble coin can be found in circulation today.

The exchange rate of the ruble versus the United States dollar saw a significant Russian ruble devaluation between July 1992, when one US dollar was equivalent to 125 RUR, and July 1998, when one US dollar was equivalent to 6,000 RUR as a result of redenomination. Since its inception in the 13th century, the ruble (RUB) has gone through a number of transformations before arriving at its current form. These transformations have included a number of evaluations as well as devaluations.

The most recent instances of this happening were just before the fall of the Soviet Union in 1992 and again during the redenomination in 1998. The value of the ruble was reassessed in 1998, and at that time, one new ruble was equivalent to 1,000 old rubles.

As a result of the widespread collapse in the price of oil, the value of the ruble plummeted dramatically in the second half of 2014, falling by more than fifty per cent in comparison to the dollar. The United States and the European Union imposed economic and financial sanctions against Russia in July 2014 as a response to Russia's invasion of Ukraine. These sanctions were a direct consequence of Russia's invasion of Ukraine. At the end of April 2017, the National Bank of Ukraine issued an order that made it illegal for any Ukrainian bank or other financial institution to circulate Russian banknotes that featured images of Crimea, a region of Ukraine that Russia has occupied since 2014.

Since the dissolution of the Soviet Union in 1991, banknotes and coins minted in Russia under the ruble currency have become noteworthy for their lack of images on the obverse side of the note or coin. This was the situation even throughout the time of the Tsars and the Communists who ruled the country. The lack of immediately recognisable faces on the currency has been slightly alleviated by the issuance of two new banknotes: one for 500 rubles showing a statue of Peter I, and another for 1,000 rubles having a statue of Yaroslav.

Countries Accepting the Russian Ruble

Amount in the Russian Ruble You Should Carry for Your Trip

If you are thinking of going on a trip to Russia, then there are a few things that you need to take into consideration, such as the expense of the flight, the accommodations available, the mode of transportation, and the kinds of food that are available in Russia.

To travel on a shoestring budget, a person requires, on average, ₽1,759 every day. On the other hand, if you prefer to stay in luxurious accommodations and savour delectable meals at upscale restaurants, then the total cost of your trip might reach up to ₽14,038. A vacation in Russia might cost anything from ₽3,500 to ₽30,000 for a couple travelling together to the country.

In Russia, the cost of staying in a hotel for each day can range anywhere from ₽865 to ₽5,587. Also, the price of transportation in this could range anywhere from ₽131 to ₽1,161, depending on whether you use a cab, a bus, or some other mode of transit.

You can check the Russian Ruble rate today via the Russian Ruble chart in order to plan a cost-effective vacation.