RUB - Russian Ruble Rates
RUB, Russian Ruble Rates:
https://www.foreignexchangerates.org/RUB_converter.html
Name: Russian Ruble
Symbol: руб kopek: к.
Minor Unit:
1/100 = kopek
RUB Profile
Inflation: 6.8%
Coins:
Freq Used: руб1, руб2, руб5, к.10, к.50
Rarely Used: руб10, к.1, к.5
Banknotes:
Freq Used: руб50, руб100, руб500, руб1000, руб5000
Rarely Used: руб10, руб5
Central Bank:
Bank of Russia
Website: http://www.cbr.ru
Users: Russia, Tajikistan, Abkhazia, more ...
The Ruble has been the currency of Russia for approximately 500 years; it has been used in various countries throughout its history. There have been different versions of the ruble due to the various changes in the currency's value.
|
Years |
Description of the Ruble |
First ruble |
1500s-1921 |
- The ruble remained the official currency of Russia until 1921, when it dramatically fell in value
- In 1710, the ruble was given its first subdivision, kopeks, with 100 kopeks making up one ruble
- Used a bimetallic standard of gold and silver
- In 1885, a new standard was adopted and the ruble was pegged to the French franc at a rate of 1 ruble to 4 francs
|
Second ruble |
1921-1922 |
- A redenomination was set at a rate of 1 new to 10,000 old rubles
- Chervonets were also used starting in 1922
|
Third ruble |
1923-1924 |
- The Soviet Union issued a redenomination at a rate of 1 new to 100 old rubles
|
Fourth ruble |
1924-1947 |
- Known as the gold ruble, the fourth version was issued at a rate of 50 000 old to 1 new ruble
|
Fifth ruble |
1947-1961 |
- Following World War II, another redenomination was set at a rate of 10 old to 1 new ruble
|
Sixth ruble |
1961-1997 |
- Based on the 1947 reform, another redenomination was set
- After the collapse of the Soviet Union, Russia continued to use the ruble, replacing old banknotes
|
Seventh ruble |
1998-present |
- In 1998, another redenomination was set at a rate of 1 new to 1,000 old rubles
- That year, six months after the Russian financial crisis, the RUB lost 70% of its value against the US dollar
- In 2010, Russia and China decided to use their national currencies for joint trade
|