Russian Ruble (RUB)

The Russian Ruble (₽ or RUB) is the official currency of the Russian Federation. It is also used in the partially recognized states of Abkhazia and South Ossetia, as well as in the unrecognized Donetsk People's Republic and Luhansk People's Republic. The ruble is subdivided into 100 kopeks (копеек in Russian).

The ruble has a long history that dates back to the 13th century, making it one of the oldest currencies still in use today. The modern Russian ruble was introduced in 1991, following the dissolution of the Soviet Union, when it replaced the Soviet ruble.

The Central Bank of the Russian Federation (also known as the Bank of Russia) is responsible for issuing and regulating the circulation of the ruble. The bank's main objectives include maintaining the stability of the currency and implementing monetary policies to control inflation.

The exchange rate of the ruble against other currencies can be influenced by various factors, such as economic conditions, inflation, interest rates, and geopolitical events. Over the past years, the ruble has experienced periods of volatility, which have been mainly driven by fluctuations in global oil prices, economic sanctions, and changes in monetary policies.

Banknotes in circulation for the Russian ruble include the denominations of 5, 10, 50, 100, 200, 500, 1000, 2000, and 5000 rubles. Coins in circulation include 1, 2, 5, and 10 rubles, as well as 1, 5, 10, and 50 kopeks.

The ruble's symbol (₽) was officially adopted in 2013 and is derived from the Cyrillic letter "Р" (which corresponds to the Latin letter "R") and represents the first letter of the word "рубль" (ruble in Russian).

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