The ruble or rouble (plural rubles) is the currency
of the Russian Federation and the two partially recognized republics of Abkhazia and South Ossetia.
Formerly, the ruble was also the currency of the Russian Empire and the Soviet Union before their dissolution. Belarus and Transnistria use currencies with the same name. The ruble is subdivided into 100 kopeks (plural: копейки, kopéyki).
Currently there is no official symbol for the ruble, though the abbreviation руб. is in wide use.
Summary information about Russian ruble
- ISO 4217 Code:
- Currency sign:
- руб. / р.
- Russia, Abkhazia, South Ossetia, Belarus
- 1 kopek, 5 kopeks, 10 kopeks, 50 kopeks, 1 ruble, 2 rubles
- 5 rubles, 10 rubles, 50 rubles, 100 rubles, 500 rubles, 1000 rubles, 5000 rubles
- Central bank:
- Central Bank of The Russian Federation
The first coins issued in present-day Russia were minted by Greek colonies on the Black Sea in the fifth century BC. Roman coins were issued from the first century BC on. The Bosporan kings also issued coins similar to those of Rome up until the reign of King Rhescuporis VI (304-342). During early medieval times, Islamic silver dirhams reached the area around Kiev and ultimately the Baltic regions.
The rulers of Kiev issued their own coins, based upon those of Byzantium, beginning with the reign of Vladimir I (978-1015). Both gold Zlatnik (equivalent to the Byzantine nomisma) and silver srebrenik were issued. No coins were issued in Russia from the twelfth to the fourteenth centuries, and silver ingots (known as grivnas), jewelry and clipped coins acted as media of exchange.
In the late fourteenth century, Russian principalities began issuing silver denga equal to 1/200th of a ruble. Under Ivan III (1462-1505), the coinage of the Principality of Moscow became the principal currency in Russia, though the values of coins varied with dengie from Pskov and Novgorod equal to two Muscovite dengi.
The Russian Tsardom was established on January 16, 1547 under Ivan IV the Terrible. He unified the coinage system, making the silver kopek, equal to 2 dengi, the basis of the system. In the 1600s, talers began circulating in Russia and in 1654 Tsar Alexei Mikhailovich issued talers restruck as silver rubles equal to 100 kopeks. Peter the Great transformed Russian coinage, expelling foreign coins and introducing machine-manufactured coinage. Russian coinage remained basically unchanged until the fall of Russian Tsars.
Russia reformed the Ruble (RUEI) under Elizabeth on November 23, 1755, setting 1 Gold Imperial equal to 10 Silver Rubles or 1000 Copper Kopeks. Paper Assignatzia (RUEA-Ruble-Banco) also circulated, though usually at a discount to specie money. The monetary system was reformed on July 1, 1839 with 1 Silver Ruble (RUES) set equal to 3.5 Ruble Assignatzia (RUEA). Credit Ruble Banknotes (RUEP) replaced the Ruble Assignatzia on June 1, 1843. Russia went on the Gold Standard on January 3, 1897 and introduced the Gold Ruble (RUER), which was used until the outbreak of World War I.
The Russian Socialist Federative Soviet Republic (RUF) was established on January 28, 1918, and the Union of Soviet Socialist Republics (SUR) was established on December 30, 1922, including Russia, Ukraine, Belorussia and Transcaucasia. The Soviet Union was dissolved on December 25, 1991, when The Russian Socialist Federative Soviet Republic became the Russian Federation (RUS).
During the Russian Civil War, many of the regions within the former Russian Empire formed states that were eventually incorporated them into the Soviet Union. Some of these states, such as the Ukraine, became Soviet Republics and independent nations after the dissolution of the Soviet Union. Others, such as the Far Eastern Republic, Khiva, or Bukhara, were incorporated into the Russian S.F.S.R. (RSFSR) or other Republics and did not reemerge after the dissolution of the Soviet Union. States such as Khiva and Bukhara, which had some type of formal existence before the Russian Civil War, are treated separately, but states such as the Far Eastern Republic, which never existed as separate entities before or after the Russian Civil War, are discussed here.
After the Revolution, the Soviets began issuing paper Rubles, often referred to as the Ruble Sov Nazki (RUFS), which lead to a huge inflation. The first currency reform occurred on January 1, 1922 when the Ruble of 1922 (RUFR) replaced the Ruble So Nazki of 1921 at 1 Ruble of 1922 equal to 10,000 Ruble Sonozaki. On October 22, 1922, the 1923 Ruble (SUB) replaced the 1922 Ruble at the rate of 1 1923 Ruble equal to 100 Rubles of 1922. The Chervonets (SUC) was introduced on December 27, 1922, which was backed 25% by gold, and eventually replaced the Ruble Sov Nazki as the unit of account.
The Gold Ruble (SUG) was introduced on March 7, 1924 equal to 1/10 Chervonetz and 50,000 Rubles of 1923. A New Ruble (SUN) replaced the Gold Ruble on December 29, 1947 at the rate of 1 New Ruble equal to 10 Gold Rubles. On January 1, 1961, the Hard Ruble (SUR) replaced the New Ruble at the rate of 1 Hard Ruble equal to 10 New Rubles.
After the dissolution of the Soviet Union, Russia replaced the Soviet Ruble with the Russian Ruble (RUR) at par. On 24 July 1993, Russia announced that Soviet and Russian notes issued before 1993 would become invalid as of 26 July. In Russia, the period for exchanging notes issued before 1993 lasted until 31 August 1993. Russia's demonetization of notes issued before 1993 notes marked the end of attempts to keep the former USSR largely intact as a ruble zone. In some former Soviet republics, Soviet and Russian notes issued before 1993 remained legal tender for a time even though they had ceased to be legal tender in Russia.
The inflation that followed led to the need to introduce a New Ruble (RUB) at the rate of 1 New Ruble equal to 1000 old Rubles. Hence, one of the new Russian Rubles is worth 5 quadrillion (5,000,000,000,000,000) Tsarist gold Rubles. The Ruble is divisible into 100 Kopeks, and has been issued by the State Treasury and by the State Bank (Gosbank).
The Far Eastern Republic issued Ruble (DBRR) banknotes while it existed. The North Russian Government, issued Ruble banknotes (RUNR) that were valued at the rate of 40 Rubles equal to 1 Pound Sterling. These notes were backed by a currency board installed by John Maynard Keynes. Numerous other entities within Russia issued banknotes during the Russian Civil War, though all of the notes were tied to the Soviet Ruble and lacked an independent existence.
The Russian Autonomous Republic of Tatarstan has issued Shamil bank notes (RUTS), equal to 100 Rubles, but these notes are not convertible into other currencies. Ichkeria (Chechen Republic) reportedly planned to issue banknotes denominated in Nikhar from the National Bank of the Republic of Ichkeria, but never did so.
The ruble was redenominated on 1 January 1998, with one new ruble equaling 1000 old rubles. The redenomination was a purely psychological step that did not solve the fundamental economic problems faced by the Russian economy at the time, and the currency was devalued in August 1998 following the 1998 Russian financial crisis. The ruble lost 70% of its value against the U.S. dollar
in the six months following this financial crisis.
On 23 November 2010, at a meeting of the Russian Prime Minister Vladimir Putin and the Chinese Premier Wen Jiabao, it was announced that Russia and China have decided to use their own national currencies for bilateral trade, instead of the U.S. dollar. The move is aimed to further improve relations between Beijing and Moscow and to protect their domestic economies during the world financial crisis. The trading of the Chinese yuan
against the ruble has started in the Chinese interbank market, while the yuan's trading against the ruble was set to start on the Russian foreign exchange
market in December 2010.
At the beginning of the 19th century, copper coins were issued for ¼, ½, 1, 2 and 5 kopeks, with silver 5, 10, 25 and 50 kopeks and 1 ruble and gold 5 although production of the 10 ruble coin ceased in 1806. Silver 20 kopeks were introduced in 1820, followed by copper 10 kopeks minted between 1830 and 1839, and copper 3 kopeks introduced in 1840. Between 1828 and 1845, platinum 3, 6 and 12 rubles were issued. In 1860, silver 15 kopecs were introduced, due to the use of this denomination (equal to 1 złoty) in Poland, whilst, in 1869, gold 3 rubles were introduced. In 1886, a new gold coinage was introduced consisting of 5 and 10 ruble coins. This was followed by another in 1897. In addition to smaller 5 and 10 ruble coins, 7½ and 15 ruble coins were issued for a single year, as these were equal in size to the previous 5 and 10 ruble coins. The gold coinage was suspended in 1911, with the other denominations produced until the First World War.
The Constantine ruble (Russian: константиновский рубль, pronounced "konstantinovsky rubl'") is a rare silver coin of the Russian Empire bearing the profile of Constantine, the brother of emperors Alexander I and Nicholas I. Its manufacture was being prepared at the Saint Petersburg Mint during the brief Interregnum of 1825, but it was never minted in numbers, and never circulated in public. The fact of its existence became known in 1857 in foreign publications.
The first coinage after Russian civil war was minted in 1921 with silver coins in denominations of 10, 15, 20 and 50 kopeks and 1 ruble. Golden chervonets were issued in 1923. These coins bore the emblem and legends of the RSFSR (Russian Federated Soviet Socialist Republic) and depicted the famous slogan, "Workers of the world, Unite!".
In 1924, copper coins were introduced for 1, 2, 3 and 5 kopeks, together with new silver 10, 15 and 20 kopeks, 1 poltinnik (50 kopeks) and 1 ruble. From this issue onwards, the coins were minted in the name of the USSR (Union of the Soviet Socialist Republics). However, 1921-1923 coins were allowed to continue circulating. Copper ½ kopek coins were also introduced in 1925. The 1 ruble was only issued in 1924 and production of the poltinnik was stopped in 1927, while the ½ kopek ceased to be minted in 1928. In 1926, smaller, aluminium-bronze coins replaced the large copper 1, 2, 3 and 5 kopeks. These coins were then melted down. In 1931, the remaining silver coins were also replaced with redesigned cupro-nickel coins depicting a worker holding up a shield. In 1935, the reverse of the 10, 15, and 20 kopeks was redesigned again, with the obverse of all denominations also redesigned, having the slogan "Workers of the world, unite!" dropped. The state emblem also went through a series of changes between 1935 and 1957. This coin series remained in circulation during the monetary reform of 1947.
In 1961, the currency was revalued again, but this time a new coinage was introduced in denominations of 1, 2, 3 and 5 kopeks in aluminium-bronze, and 10, 15, 20 and 50 kopeks and 1 ruble in cupro-nickel-zinc. 50 kopek and 1 ruble coins dated 1961 had plain edges, but starting in 1964, the edges were lettered with the denomination and date. All 1926-1957 coins were then withdrawn from circulation and demonetized.
In 1967, a commemorative series of 10, 15, 20, 50 kopeks, and 1 ruble was released, celebrating the 50th anniversary of the Russian Revolution. Many different commemorative 1 ruble coins were also released, as well as a handful of 3 and 5 rubles. Starting in 1991, both kopek and ruble coins began depicting the mint marks (M) for Moscow, and (Л) for Leningrad.
In 1991, a new coinage was introduced in denominations of 10 and 50 kopeks, 1, 5 and 10 rubles. The 10 kopeks was struck in brass-plated steel, the 50 kopeks, 1 and 5 rubles were in cupro-nickel and the 10 rubles was bimetallic with an aluminium-bronze centre and a cupro-nickel-zinc ring. The series depicts an image of the Kremlin on the obverse rather than the soviet emblem. However, this coin series was extremely short lived as the Soviet Union ceased to exist only months after its release.
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 above the legend "Банк России." The 1 and 5 rubles were minted in brass-clad steel, the 10 and 20 rubles in cupro-nickel and the 50 and 100 rubles were bimetallic (aluminium-bronze and cupro-nickel-zinc). In 1993, aluminium-bronze 50 rubles and cupro-nickel-zinc 100 rubles were issued, and the material of 10 and 20 rubles was changed to nickel-plated steel. In 1995 the material of 50 rubles 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.
During this period the commemorative one-ruble coin is regularly issued. It's practically identical in size and weight to a 5 Swiss franc
coin (worth approx. €3 / US$4). For this reason, there have been several instances of (now worthless) ruble coins being used on a large scale to defraud automated vending machines in Switzerland.
1 and 5 kopek coins are rarely used (especially the 1 kopek coin) due to their low value and in some cases may not be accepted by stores or individuals. In some cases, the 10 kopek coin is refused. All these coins began being issued in 1998, despite the fact that some of them bear the year 1997. Since 2000, many bimetallic 10 ruble circulating commemorative coins have been issued. These coins have a unique holographic security feature inside the "0" of the denomination 10. In 2008, it was proposed by the Bank of Russia
to withdraw 1 and 5 kopek coins from circulation and to round all the prices to 10 kopeks, although the proposal hasn't been realized as of 2010. The material of 1, 2 and 5 ruble coins was switched from copper-nickel-zinc and copper nickel clad to nickel plated steel in the second quarter of 2009. 10 and 50 kopeks were also changed from aluminum-bronze to brass steel clad. In October 2009, a new 10 ruble coin made of brass plated steel was issued, featuring holographic security features, and the 10 ruble banknote will be withdrawn by 2012. Bimetallic 10 ruble coins will continue to be issued. A series of circulating Olympic commemorative 25 ruble coins will start in 2011. The new coins will be made of cupronickel. A number of commemorative smaller denominations of these coins exist in circulation as well, depicting national historic events and anniversaries.
The Bank of Russia issues other commemorative non-circulating coins ranging from 1–50,000 rubles.
In 1768, during the reign of Catherine the Great, the Assignation Bank was instituted to issue the government paper money. It opened in St. Petersburg and in Moscow in 1769.
In 1769, Assignation rubles were introduced for 25, 50, 75 and 100 rubles, with 5 and 10 rubles added in 1787 and 200 ruble in 1819. The value of the Assignation rubles fell relative to the coins until, in 1839, the relationship was fixed at 1 coin ruble = 3½ assignat rubles. In 1840, the State Commercial Bank issued 3, 5, 10, 25, 50 and 100 rubles notes, followed by 50 ruble credit notes of the Custody Treasury and State Loan Bank.
In 1843, the Assignation Bank ceased operations, and state credit notes (Russian: государственные кредитные билеты) were introduced in denominations of 1, 3, 5, 10, 25, 50 and 100 rubles. These circulated, in various types, until the revolution, with 500 rubles notes added in 1898 and 250 and 1000 rubles notes added in 1917. In 1915, two kinds of small change notes were issued. One, issued by the Treasury, consisted of regular style (if small) notes for 1, 2, 3, 5 and 50 kopeks. The other consisted of the designs of stamps printed onto card with text and the imperial eagle printed on the reverse. These were in denominations of 1, 2, 3, 10, 15 and 20 kopeks.
In 1917, the Provisional Government issued treasury notes for 20 and 40 rubles. These notes are known as "Kerenski" or "Kerensky rubles". The provisional government also had 25 and 100 rubles state credit notes printed in the U.S.A. but most were not issued.
In 1918, state credit notes were introduced by the R.S.F.S.R. for 1, 3, 5, 10, 25, 50, 100, 250, 500, 1,000, 5,000 and 10,000 rubles. These were followed in 1919 by currency notes for 1, 2, 3, 15, 20, 60, 100, 250, 500, 1000, 5000 and 10,000 rubles. In 1921, currency note denominations of 5, 50, 25,000, 50,000, 100,000, 1,000,000, 5,000,000 and 10,000,000 rubles were added.
Only state currency notes were issued for this currency, in denominations of 1, 3, 5, 10, 25, 50, 100, 250, 500, 1,000, 5,000 and 10,000 rubles.
As with the previous currency, only state currency notes were issued, in denominations of 50 kopeks, 1, 5, 10, 25, 50, 100, 250, 500, 1,000, 5,000 and 10,000 rubles. In early 1924, just before the next redenomination, the first paper money was issued in the name of the USSR, featuring the state emblem with 6 bands around the wheat, representing the language of the then 4 constituent republics of the Union: Russian SFSR, Transcaucasian SFSR (Azerbaijani, Armenian, and Georgian), Ukrainian SSR and Byelorussian SSR. They were dated 1923 and were in denominations of 10,000, 15,000, and 25,000 rubles.
In 1924, state currency notes were introduced for 1, 3 and 5 gold rubles (рубль золотом). These circulated alongside the chervonets notes introduced in 1922 by the State Bank in denominations of 1, 3, 5 10 and 25 chervonets. State Treasury notes replaced the state currency notes after 1928. In 1938, new notes were issued for 1, 3 and 5 rubles, dropping the word "gold".
In 1947, State Treasury notes were introduced for 1, 3 and 5 rubles, along with State Bank notes for 10, 25, 50 and 100 rubles.
In 1961, new State Treasury notes were introduced for 1, 3 and 5 rubles, along with new State Bank notes for 10, 25, 50 and 100 rubles. In 1991, the State Bank took over production of 1, 3 and 5 ruble notes and also introduced 200, 500 and 1,000 ruble notes, although the 25 ruble note was no longer issued. In 1992, a final issue of notes was made bearing the name of the U.S.S.R. before the Russian Federation introduced notes for 5,000 and 10,000 rubles. These were followed by 50,000 ruble notes in 1993, 100,000 rubles in 1995 and finally 500,000 rubles in 1997 (dated 1995). Since the breakup 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 1000 ruble note depicting a statue of Yaroslav, the lack of recognizable faces on the currency has been partially alleviated.
The 1000 ruble note did not continue as a 1 new ruble note.
RUB banknotes pictures gallery
|5 Russian rubles|
|Banknote of 5 Russian rubles has dimensions 137×61 mm and main colors are xanadu, hunter green, gray-asparagus, gainsboro, grullo, khaki, dark gray and platinum. The banknote of 5 Russian rubles was issued on the 1 January 1998.|
Obverse side of the 5 Russian rubles is showing the Millennium of Russia monument on background of Saint Sophia Cathedral in Veliky Novgorod.
Reverse side of the 5 Russian rubles is showing the Fortress wall of the Novgorod Kremlin.
|10 Russian rubles|
|Banknote of 10 Russian rubles has dimensions 150×65 mm and main colors are taupe, wenge, camouflage green, rifle green, blanched almond, papaya whip, vanilla and pale silver. The banknote of 10 Russian rubles was issued in 2011.|
Obverse side of the 10 Russian rubles is showing Komunalny Bridge across the Yenisei River in Krasnoyarsk and Paraskeva Pyatnitsa Chapel.
Reverse side of the 10 Russian rubles is showing the Krasnoyarsk hydroelectric plant.
|50 Russian rubles|
|Banknote of 50 Russian rubles has dimensions 150×65 mm and main colors are isabelline, pastel blue, gray, almond, khaki, pastel brown, silver and anti-flash white. The banknote of 50 Russian rubles was issued in 2011.|
Obverse side of the 50 Russian rubles is showing the Rostral Column sculpture on background of Petropavlovsk Fortress in Saint Petersburg.
Reverse side of the 50 Russian rubles is showing the Old Saint Petersburg Stock Exchange and Rostral Columns.
|100 Russian rubles|
|Banknote of 100 Russian rubles has dimensions 150×65 mm and main colors are raw umber, bole, shadow, khaki, tan, white smoke, rose taupe, timberwolf and linen. The banknote of 100 Russian rubles was issued in 2011.|
Obverse side of the 100 Russian rubles is showing Quadriga on the portico of the Bolshoi Theatre in Moscow.
Reverse side of the 100 Russian rubles is showing the Bolshoi Theatre.
|500 Russian rubles|
|Banknote of 500 Russian rubles has dimensions 150×65 mm and main colors are pastel pink, eggplant, dim gray, piggy pink, white smoke, gainsboro, languid lavender and magnolia. The banknote of 500 Russian rubles was issued in 2011.|
Obverse side of the 500 Russian rubles is showing the Monument to Peter the Great, Sedov sailing ship and sea terminal in Arkhangelsk.
Reverse side of the 500 Russian rubles is showing the Solovetsky Monastery.
|1000 Russian rubles|
|Banknote of 1000 Russian rubles has dimensions 157×69 mm and main colors are dark sea green, dark gray, pine green, pale aqua, eton blue, splashed white, platinum and light gray. The banknote of 1000 Russian rubles was issued in 2010.|
Obverse side of the 1000 Russian rubles is showing the Monument to Yaroslav I the Wise and the Lady of Kazan Chapel in Yaroslavl.
Reverse side of the 1000 Russian rubles is showing John the Baptist Church in Yaroslavl.
|5000 Russian rubles|
|Banknote of 5000 Russian rubles has dimensions 157×69 mm and main colors are rose vale, dark salmon, pale gold, sunset, apricot, pale chestnut, wheat, almond, french beige, desert sand and old lace. The banknote of 5000 Russian rubles was issued in 2011.|
Obverse side of the 5000 Russian rubles is showing the Monument to Nikolay Muravyov-Amursky in Khabarovsk.
Reverse side of the 5000 Russian rubles is showing the Khabarovsk Bridge over the Amur.
- About Central Bank of The Russian Federation:
- Bank of Russia
- List of currencies:
- Security and design features of RUB banknotes:
- RUB banknotes
- RUB currency on Wikipedia:
- Russian ruble
- Official Website of Central Bank of The Russian Federation:
- Commemorative coins:
- Commemorative Coins