Geopolitical events, particularly Russia’s conflicts with Ukraine and the sanctions imposed from various nations, have played substantial roles in devaluing the Ruble’s exchange rate. Despite the tumultuous economic climate, Russia has pioneered in the digital currency space with the introduction of a Central Bank Digital Currency. The Bank of Russia maintains control over the Ruble’s value through various monetary policy tools.

Exchange rates

Notes are issued in denominations ranging from 5 to 5,000 rubles. Coins are denominated in values from 1 to 50 kopecks, and there are also coins ranging in value from 1 to 25 rubles. After the dissolution of the Soviet Union, the Russian ruble replaced the Soviet ruble at parity. Inflation coinspot reviews battered the ruble during the 1990s, and in the late 1990s the old ruble was replaced at a rate of 1,000 to 1. The origins of the Russian ruble as a designation of silver weight can be traced to the 13th century.

• Compare live Russian ruble exchange rates and see how much you could save with Wise.
• The currency code for Russia Ruble is RUB, and the currency symbol is ₽.
• On November 23, 2010, Russian President Vladimir Putin and the then-Prime Minister of China, Wen Jiabao, declared that Russia and China would use their currencies instead of USD for bilateral trade.
• The Russian Central Bank unveiled the new icons in February 2017.
• The front has images of the Nikolai Muraviev-Amursky Monument and the back depicts the bridge over the River Amur.

What is the Russian Ruble (RUB)?

The design of the Russian currency changed in 1991 during the Soviet Union’s dissolution. The Central Bank of the Soviet Union placed into circulation new notes and coins. The Bank of Russia also issued Russian ruble banknotes in denominations 5,000 and 10,000. There was a new reform in 1993, which along with the new notes issued, aimed to bring an end to the circulation of Soviet versions. The current banknotes of the Russian ruble are issued in denominations ranging from 5 to 5,000 rubles.

Banks in Russia

• By keeping an eye on the mid-market rate, you can make more informed decisions and potentially save money on your currency conversions.
• Especially in Turkic languages or languages influenced by them, the ruble is often known (also officially) as som or sum (meaning pure), or manat (from Russian moneta, meaning coin).
• The RUB to USD exchange rate has experienced some fluctuations over time.Over the past week, the rate rose by +6.43%.Over the past month, it saw a +13.52% rise.Over the last year, the exchange rate has risen by +1.30%.
• Whether you need to make cross-border payments or FX risk management solutions, we’ve got you covered.
• In the past, several other countries influenced by Russia and the Soviet Union had currency units that were also named ruble, including the Armenian ruble, Latvian ruble and Tajikistani ruble.
• Use Wise for fast, low-cost, and secure online money transfers from the United Kingdom to Russia.
• The Central Bank of the Russian Federation has the exclusive authority to issue banknotes and coins in Russia.

Numbers ending in 2, 3 or 4 (except for 12–14) are followed by genitive singular рубля rublya, копейки kopeyki. Numbers ending in 5–9, 0, or 11–14 are followed by genitive plural рублей rubley, копеек kopeyek. Both the spellings ruble and rouble are used in English, depending on the author’s native dialect. The earliest use recorded in English is the now completely obsolete robble. The form rouble is preferred by the Oxford English Dictionary and probably derives from the transliteration into French used among the Tsarist aristocracy. It may have been retained in English to avoid confusion with “rubble”.

Convert US Dollar to Russian Ruble

Our exchange rate API offers real-time, accurate, and reliable data for hundreds of currencies. Xe’s proprietary rates are sourced directly from financial data providers and reputable banks. There are several exchange bureaus that can exchange foreign currency in Russia.

Prior to this event, the USD/RUB exchange rate was around 30 rubles to the dollar; following the invasion it rose to rubles to dollars, where it remained for several years. On 23 December 2015, another commemorative 100 ₽ Best agriculture stock banknote was issued to celebrate the “reunification of Crimea and Russia”. One side of the note is devoted to Sevastopol, the other one – to Crimea.

It comes out on the surface on the Sevastopol side of the banknote in the figure-shaped window. A multitone combined watermark is located on the unprinted area in the upper part of the banknote. The Sevastopol side of the note features the Monument to Sunken Ships in Sevastopol Bay and a fragment of the painting Russian Squadron on the Roads of Sevastopol by Ivan Aivazovsky. The Crimea side of the note features the Swallow’s Nest, a decorative castle and local landmark.

The ruble (RUB) has been used since the 13th century and has been through a number of incarnations during that time, including multiple revaluations and devaluations. The most recent changes occurred before the fall of the Soviet Union in 1992 and during the redenomination in 1998. The 1998 redenomination made one new ruble worth 1000 old rubles. According to one version, the word “ruble” is derived from the Russian verb рубить (rubit), “to cut, to chop, to hack”, as a ruble was considered a cutout piece https://www.forex-reviews.org/ of a silver grivna. It’s much better to take out cash from a local ATM or pay by card when possible.

Russian Currency

The current coins are denominated in values from 1 to 50 kopecks, and there are also coins ranging in value from 1 kopcek to 10 rubles. At the same time, many Western corporations suspended or ceased doing business inside of Russia. These measures sent the value of the ruble plummeting to record lows against foreign currency, and briefly touching nearly 135 rubles to the dollar. One notable event was the annexation of Crimea by Russia in 2014, which triggered international sanctions and condemnation from the United States, the European Union, and other countries. The sanctions targeted key sectors of the Russian economy, such as energy, finance, defense, and trade, and restricted access to foreign capital and technology. The ruble plunged to record lows against the dollar and the euro in late 2014 and early 2015, as investors fled Russian assets amid uncertainty and risk.

The main images of the obverse are a boy with a ball under his arm and a goalkeeper diving for a ball. The main image of the reverse is a stylized image of the globe in the form of a football with green image of the Russian territory outlined on it. On the reverse there is the number 2018 that marks both the issue of the banknote and the World Cup, as well as the name of the host cities in the Russian language. The bottom right corner of the obverse bears a QR-code, which contains a link to the page of the Bank of Russia website with the description of the note’s security features. Following the dissolution of the Soviet Union in 1991, the Soviet ruble remained the currency of the Russian Federation until 1992.