500th Anniversary of the United Russian State
Silver (.900) • 34.56 g • ⌀ 39 mm
Y# 249, Schön# 201
The rouble (рубль rublʹ; symbol: ₽, руб; code: RUB) is the official currency of the Russian Federation. The ruble is subdivided into 100 kopeks (sometimes written as kopecks or copecks; Russian: копе́йка kopeyka, plural: копе́йки kopeyki). The first Russian ruble (code: RUR) replaced the Soviet (code: SUR) in September 1993 at parity or 1 SUR = 1 RUR. In 1998, preceding the financial crisis, the current ruble was redenominated with the new code „RUB“ and was exchanged at the rate of 1 RUB = 1,000 RUR.
The ruble was the currency of the Russian Empire and of the Soviet Union (as the Soviet ruble). However, today only Russia, Belarus and Transnistria use currencies with the same name. The ruble is also unofficially used in the four partially recognised republics of Abkhazia, South Ossetia, Donetsk and Luhansk. As of April 2019, the ruble is the seventeenth most traded currency in the world, and a free-floating currency.
The ruble has been used in the Russian territories since the 14th century, and is the second-oldest currency still in circulation, behind the Pound sterling.Initially an uncoined unit of account, the ruble became a circulating coin in 1704 just before the establishment of the Russian Empire. It was also the first currency in Europe to be decimalised in 1704, when it was divided into 100 kopeks. The ruble has seen several incarnations and redenominations during its history, the latest of which is the introduction in 1998 of the current Russian ruble (code: RUB) at the rate of 1 RUB = 1,000 old rubles.
Further information: Soviet ruble and Monetary reform in Russia, 1993
Following the breakup of the Soviet Union in 1991, the Soviet ruble remained the currency of the Russian Federation until 1992. A new set of coins was issued in 1992 and a new set of banknotes was issued in the name of Bank of Russia in 1993. The Russian ruble with the ISO 4217 code RUR and number 810 replaced the Soviet ruble at the rate 1 SUR = 1 RUR.
The ruble’s exchange rate versus the U.S. dollar depreciated significantly from $1 = 125 RUR in January 1992 to approximately $1 = 6,000 RUR when the currency was redenominated in 1998.