Russian Ruble (RUB)
The Russian Ruble is issued by the Bank of Russia.
- Alphabetic code
- RUB
- Numeric code
- 643
- Symbol
- ₽
- Minor units
- 2
- Example
- RUB 1,234.50
- Used in
- Russia
History
- 1998 The ruble is redenominated at 1,000 old rubles to 1 new ruble, with the exchange beginning on 1 January.
- 1998 On 17 August Russia devalues the ruble by widening its trading band to 6.0 to 9.5 per dollar, restructures domestic ruble debt and imposes a moratorium on some private external debt payments.
- 1998 The central bank floats the ruble on 2 September, and by 9 September the rate reaches 21 rubles per dollar.
- 2014 On 10 November the Bank of Russia cancels the permissible range of its dual-currency basket, ending its exchange rate corridor as part of the move to a floating rate.
- 2022 On 28 February, after new foreign sanctions, the Bank of Russia raises its key rate to 20% and takes steps to limit capital withdrawals by non-residents.
Live exchange rates
Sources
- Bank of Russia: history
- Bank of Russia: exchange rate policy history
- Bank of Russia: Governor’s statement, 10 November 2014 decisions
- Jamestown Foundation: Russia’s latest monetary reform starts smoothly (secondary)
- RFE/RL, 8 January 1998 (secondary)
- Brookings Papers on Economic Activity, 2001: Kharas et al.
- Bank of Russia: Governor’s statement, 28 February 2022