Currency Exchange Rates for Russian Rouble
Currency Exchange Rates for Russian Rouble - Currency Information on RUB— Russian ruble - ₽. The foreign exchange currency code for RUB represents the Russian Rouble exchange rate.
The Ruble is the currency of Russian Federation. It is also used as a currency of Abkhazia, Belarus, and South Ossetia. Ruble was formerly used as the only currency of the USSR and the Russian Soviet Socialist Republic before they eventually broke up. According to the Bank of Russia, 100 Kopeks make one Ruble. The Russian Ruble does not have any symbol that can be used officially, though 'PY6' is an abbreviation that is often used. Different symbols are being considered as of now to decide the official symbol.
1. History of Ruble:
The word Ruble is derived from 'rubit' which means 'to cut'. In the ancient times, the Ruble was not a minted currency, rather it was a measure of weight and value. It was in the year 1705 that the Russian emperor issued Silver ruble as currency. Initially, one Ruble was valued at 28 grams of silver but in the 1750s, it was devalued to 18 grams of silver. Between the years 1755 to 1780, Gold Rubles were issued and between the year 1770 to 1772, copper Rubles were also issued.
2. Coins and Notes
The contemporary Russian Ruble can also be subdivided into Altyn (10 Kopecks), the Grivennik (10 Kopecks), Polupoltina (25 Kopecks) and Poltina (50 Kopecks). After the fall of the USSR, the Russian Federations introduced coins in the range of 1, 5, 10, 20 and 100 and the Treasury Notes were issued in 1961 for 1, 3 and 5 Rubles. All Russian Banknotes are printed at Goznak factory in Moscow which was started in 1919. Coins are minted at the Saints Petersberg Mint Moscow which was started in 1724.
3. Issues and Controversy:
In July 2014, the State Duma Deputy Roman Khudyakov alleged that the picture of Apollo on 100 Russian Ruble note constitute pornography and thus should be available to only an adult person. Since it is impossible to limit the supply of the note, he requested to the governor of the Bank of Russia to change the design.
Today, though RUB is the code of the Ruble, the 'RUR' is still popularly used.
The Russian ruble is the official currency of Abkhazia, South Ossetia and Russia. It is also used in the Donetsk People’s Republic and the Luhansk People’s Republic.
The Russian ruble was the first example of decimalised currency, first becoming decimalised in 1704, subdividing into 100 kopeks. Send Money Transfer to Russia.
GBP to RUB
Frequently used Russian ruble coins are available in denominations of 10 and 50 kopeks, 1, 2, 5, 10 and 25 rubles. 1 and 5 kopek coins exist, but are not used in circulation currently. Banknotes available are in denominations of 5, 10, 50, 100, 500, 1,000 and 5,000 rubles, although 5 and 10 ruble notes are not frequently used. Bank Exchange Rates for Russian Rouble. The foreign exchange rates for Russia also known as the ISO code RUB. Send money transfer online with us with the cheapest options.