In 1993, aluminium-bronze 50-ruble coins and cupro-nickel-zinc 100-ruble coins were issued, and the material of 10 and 20-ruble coins was changed to nickel-plated steel. In 1995 the material of 50-ruble coins was changed to brass-plated steel, but the coins were minted with the old date 1993. As high inflation persisted, the lowest denominations disappeared from circulation and the other denominations became rarely used. 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. The current banknotes of the Russian ruble are issued in denominations ranging from 5 to 5,000 rubles.

For instance, most credit card processors and ATM networks charge a 1% conversion fee on all foreign transactions. Foriegn merchants may also impose additional fees if you ask them to convert a price into USD at checkout. Russia is more than twice as large as the contiguous 48 U.S. states and is blessed with enormous natural resources. Yet Russia’s annual gross domestic product (GDP) ranked only 11th worldwide in 2021, is only 7.72% the size of the U.S. economy. That’s because Russia relies heavily on exports of natural resources, rather than higher-value-added industries. In fact, in terms of GDP, Russia trails much smaller countries, such as Italy and France.

The back of the note features the Fisht Olympic Stadium in Sochi. In February 2022, many commentators suggested Russia could evade international sanctions using cryptocurrency. Though a CBDC is much different from a private cryptocurrency, a digital ruble could limit Russia’s dependence on using foreign currencies, such as the U.S. dollar. Our currency rankings show that the most popular Russian Ruble exchange rate is the RUB to USD rate. The currency code for Rubles is RUB, and the currency symbol is ₽. Below, you’ll find Russian Ruble rates and a currency converter.

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. Live tracking and notifications + flexible delivery and payment options. The value of the digital ruble is identical to the value of a regular ruble.

The Bank of Russia announced that 12 Russian banks were ready to begin using the digital ruble. Ongoing political tensions have hurt the Russian economy, as the country has repeatedly faced sanctions from the international community. The value of the ruble along with many Russian companies plummeted after Russia began its invasion of Ukraine in February 2022. The Russian ruble (sometimes spelled rouble) is the national currency of the Russian Federation. The ruble is the second-oldest currency still in circulation, behind the British pound. However, if you’re going to go this route, you’ll need to look up the current exchange rate.

Russia’s Economy

The Crimea side of the note features the Swallow’s Nest, a decorative castle and local landmark. In the lower part of the Sevastopol side of the banknote in the green stripe there is a QR-code containing a link to the Bank of Russia’s webpage, which lists historical information related to the banknote. The Russian Ruble (RUB), among the oldest currencies still in circulation, is heavily influenced by global oil prices, considering Russia’s key role as an exporter of oil and natural gas.

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. In recent years, the currency’s exchange rate has generally tracked global commodity prices, especially oil prices, because Russia’s economy heavily depends on exports of oil, natural gas, and other natural resources. The ruble collapsed in the second half of 2014, losing about half its value versus the U.S. dollar as global oil prices plunged.

The ruble has gone through numerous changes, from silver coins to paper notes, due to economic reforms, political changes, and inflation. The Ruble we know today is the result of the monetary reform in 1998, following the post-Soviet Union economic crisis. In late 2017, Russia announced the Russian ruble as the only legal tender in Crimea.

United States Dollar

All Russian ruble banknotes are currently printed at the state-owned factory Goznak in Moscow, which was founded on 6 June 1919 and operated ever since. Coins are minted in the Moscow Mint and at the Saint Petersburg Mint, which has been operating since 1724. On 1 January 1998, a new series of banknotes dated 1997 was released in denominations of 5 ₽, 10 ₽, 50 ₽, 100 ₽ and 500 ₽. The 1,000 ₽ banknote was first issued on 1 January 2001 and the 5,000 ₽ banknote was first issued on 31 July 2006. Since the dissolution of the Soviet Union in 1991, Russian ruble banknotes and coins have been notable for their lack of portraits, which traditionally were included under both the Tsarist and Communist regimes. With the issue of the 500-ruble note depicting a statue of Peter I and then the 1,000-ruble note depicting a statue of Yaroslav, the lack of recognizable faces on the currency has been partially alleviated.

Check live rates, send money securely, set rate alerts, receive notifications and more. These are the average exchange rates of these two currencies for the last 30 and 90 days. Using a currency conversion calculator is a smart way to estimate what you’ll get once you’re ready to exchange funds.

The currency replaced the Soviet ruble at par and was assigned the ISO 4217 code RUR and number 810. You can send a variety of international currencies to multiple countries reliably, quickly, and safely, and at a rate cheaper than most banks. On 30 October 2013, a special banknote in honour of the 2014 Winter Olympics held in Sochi was issued.

1. 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.
2. Since exchange rates change quickly, using a calculator can ensure the information you’re getting is accurate and up-to-date.
3. All Russian ruble banknotes are currently printed at the state-owned factory Goznak in Moscow, which was founded on 6 June 1919 and operated ever since.
4. The Bank of Russia maintains control over the Ruble’s value through various monetary policy tools.
5. In December 2021, a prototype of the digital ruble was completed and the first transfers using the digital ruble’s platform were successful.

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.

RUB – Russian Ruble

Around the same time, the National Bank of Ukraine ordered that all Ukrainian banks and other financial institutions were forbidden to circulate Russian banknotes that depict images of Crimea, a region of Ukraine that Russia annexed in 2014. On 22 May 2018, a special banknote to celebrate the 2018 FIFA World Cup was issued.[58] The banknote is printed on polymer. The top part of the note bears a transparent window that contains a holographic element. The main images of the obverse are a boy with a ball under his arm and a goalkeeper diving for a ball.

Russian Ruble to US Dollar Exchange Rate Chart

Economic and financial sanctions imposed by the U.S. and European Union on Russia in July 2014 over its invasion and annexation of Crimea also helped weaken it. On 23 December 2015, another commemorative 100 ₽ 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.

USD to RUB Chart

These are the lowest points the exchange rate has been at in the last 30 and 90-day periods. These are the highest points the exchange rate has been at in the last 30 and 90-day periods. 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. Bear in mind that exchanging currency usually comes with fees attached, which will likely not be taken into account by your calculator.

The Ruble has witnessed multiple transformations since its inception in the 13th century, with the latest changes occurring due to the fall of the Soviet Union in 1992 and the redenomination in 1998. 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 https://www.fx770.net/ 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. After the fall of the Soviet Union, the Russian Federation introduced new coins in 1992 in denominations of 1, 5, 10, 20, 50, and 100 rubles. The coins depict the double-headed eagle without a crown, sceptre and globus cruciger above the legend “Банк России” (“Bank of Russia”).