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The Russian ruble or rouble (Russian: рубль rublʹ, plural: рубли́ rubli; sign: , руб; code: RUB) is the currency of Russia. It is also used in two partially recognized countries, Abkhazia and South Ossetia. It is also used in the unrecognised republics of Donetsk and Luhansk. One ruble is subdivided into 100 kopeks (Russian: копе́йка kopeyka, plural: копе́йки kopeyki).

The ruble was the currency of the Russian Empire and of the Soviet Union (as the Soviet ruble). Only three countries, Russia, Belarus and Transnistria use currencies known as ruble. The ruble was the world's first decimal currency: it was decimalised in 1704 when the ruble became equal to 100 kopeks.[1]

In 1992 the Soviet ruble (code: SUR) was replaced with the Russian ruble (code: RUR) at the rate 1 SUR = 1 RUR. In 1998, while Russia was suffering from a second economic crisis, the Russian ruble was redenominated with the new code "RUB" and was exchanged at the rate of 1 RUB = 1,000 RUR.

ReferencesEdit

  1. The history of Russian ruble and kopeck Archived 19 August 2011 at the Wayback Machine at the law-theory.ru (Russian)