Russian ruble– the official monetary unit of the Russian Federation. Bank code - RUB (before denomination in 1998 - RUR). Banknote denominations: 5,000, 2,000, 1,000, 500, 200, 100, 50 and 10 rubles. Coins: 10, 5, 2 and 1 ruble, 50, 10, 5 kopecks and 1 kopeck, which has now been withdrawn from circulation. The name of the monetary unit comes from the word “to chop”, the original word is “stump” (part of the ancient monetary unit of the hryvnia). There is another version, according to which “ruble” comes from “rub” (in Slavic languages it means “edge”, “scar” or “border”), which is associated with the technology of making ancient coins - the first rubles were silver ingots processed according to edges.
Illustration: Website Numismat.ru
Modern Russian banknotes depict architectural monuments of different cities of the country: on the front side of the 5 thousand banknote there is a monument to Muravyov-Amursky in Khabarovsk, on the back there is a bridge over the Amur; 1 thousand rubles – a monument to Yaroslav the Wise in Yaroslavl and the Church of John the Baptist, respectively; 500 rubles – monument to Peter I in Arkhangelsk and Solovetsky Monastery; 100 rubles – quadriga of Apollo and the Bolshoi Theater in Moscow; 50 rubles – statue of the Neva and the Spit of Vasilyevsky Island; 10 rubles - Paraskeva Pyatnitsa Chapel and Krasnoyarsk Hydroelectric Power Station. The front side of the coins depicts the denomination in a floral pattern, the reverse side contains the coat of arms of the Russian Federation, the inscription “Bank of Russia” and the year of issue.
On October 12, 2017, the Bank of Russia introduced new banknotes in denominations of 200 and 2000 rubles, the symbols for which were chosen based on the results of an all-Russian vote. The banknotes use an improved security complex and elements with increased relief for visually impaired citizens, and also take into account modern design trends.
The history of the Russian ruble can be divided into three stages: pre-revolutionary ruble, Soviet and Russian.
The first issue of new Russian money was carried out in 1992 under conditions of hyperinflation. The exchange rate was 125 rubles per dollar. There was a rejection of kopecks, and the smallest monetary unit became 1 ruble, and in 1993 - 10 rubles; coins were not minted at all. By the end of 1992, the exchange rate exceeded 400 rubles per dollar. On October 11, 1994, the so-called “Black Tuesday” occurred when the ruble fell to 3,926 per dollar.
By 1995, the smallest banknote was 1 thousand rubles. In 1998, denomination was carried out at a rate of 1,000 to 1 and the Bank of Russia banknotes with which we deal today appeared. After denomination, the exchange rate was 5-6 rubles per dollar.
By the end of 1998, as a result of default, the exchange rate dropped to 20 rubles per dollar (at the same time, due to devaluation, industry grew by more than 40 percent).
Illustration: Website Numismat.ru
The second time devaluation was carried out under the control of the Bank of Russia at the end of 2008 as a result of the international financial crisis. Then the rate was lowered by more than 30%, the historical maximum was 36.45 rubles per dollar. But in the spring it returned to previous levels. As of September 2011, the exchange rate fluctuates between 29-32 rubles per dollar.
In relation to other currencies, the ruble is still not freely convertible, but there are already plans to “liberate” it, and a gradual liberalization of currency legislation is being carried out.
The main factors influencing the modern ruble are world prices for energy resources, such as oil, natural gas, as well as other raw materials, including non-ferrous metals. At the same time, Russia, unlike many European countries and the United States, does not have a large external debt. Thus, given good international conditions, investments in Russian currency can be attractive. Moreover, according to purchasing power parity, calculated, for example, using the Big Mac index, there is a prospect of a strengthening of the Russian ruble.
The Russian ruble is the currency established as legal tender on the territory of the Russian Federation, North Ossetia and Abkhazia. In its modern form, the ruble has a short history, which begins only in 1993, when, during the monetary reform, it was decided to switch from the previously used Soviet ruble to a new currency.
Until 1998, the Russian ruble had the numerical designation 810 and the letter RUR, according to the records of the ISO 4217 standard. After 1998, the designation RUR and 643 were already introduced, however, in the banking industry, when designating ruble accounts, the numerical designation 810 is still encountered and used. As a symbol The Russian ruble uses the letter “P” with a single horizontal line through it. The ruble sign has been added to Unicode only since June 2014, so support for this symbol by all browsers and text editors is expected only over time.
Story
The concept of the ruble first appeared around the 13th century as a designation for part of the hryvnia - a unit of weight of silver that was used for payment. The name comes from the word chop and only came into use over time as “ruble.” Tsarist Russia used rubles from the Russian Empire. This name meant both coins and banknotes that were in use. In Soviet Russia, the Soviet ruble was introduced as an official monetary unit, recognized as a legal means of mutual settlements.
After the collapse of the USSR, Soviet rubles remained in use, as in many post-Soviet countries, but many of them soon switched to their own currencies. To prevent hyperinflation and the influx of apparent excess Soviet cash, a monetary reform was carried out, during which the 1993 Russian ruble was introduced and introduced into cash circulation. Until 2002, it was possible to exchange old rubles for new ones at a set rate, after which only new banknotes remained in use. In 1998, a denomination was carried out, as a result of which the rubles in cash circulation were exchanged for banknotes of a new type with a decrease in digit size. The exchange took place at a rate of 1000:1.
Emission. Denominations
Banknotes in denominations of 5, 10, 50, 100, 500, 1000 (since 2001), 5000 (since 2006) are currently used in cash circulation. Banknotes of 5 and 10 rubles are withdrawn from circulation and exchanged for coins. Among the coins you can find denominations of 1, 2, 5, 10, 50 kopecks and 1,2,5,10 rubles. Kopecks are practically not used in everyday life, and some trading operations are already carried out only with rounding to the nearest ruble. Coins of 1 and 2 kopecks are withdrawn from circulation and are not produced. Commemorative coins are issued with a denomination of 10 rubles and without the use of precious metals. A combination of brass and cupronickel, coated steel or copper-nickel alloy is used.
The issue of money supply is carried out by the Bank of Russia and FSUE Goznak, which issue banknotes, and the Moscow Mint, together with the St. Petersburg Mint, which issues coins. Since 1993, several series of banknotes have been launched. The second series was issued without an actual change in design and marked a reduction in the denomination value by 1000. Also, more advanced anti-counterfeiting measures were applied to the newly issued banknotes. Subsequently, a series of new banknotes were issued in 2001, 2004, 2010 in order to prevent the appearance of a large number of counterfeits.
Russian ruble exchange rate
The Russian Federation in the world market primarily operates on energy prices and only secondarily on other resources and finished products. The latter is just beginning to increase its competitiveness. Only recently the Russian ruble partially switched to a floating exchange rate. However, it cannot be called completely free-floating. The Bank of Russia creates a corridor in which changes in the exchange rate of currencies against the ruble are allowed, and when any of the channel boundaries is reached, intervention is carried out in order to return the ratios to the levels designated by the Bank of Russia. Only by 2015 is it planned to switch to a full-fledged floating exchange rate, based on free market conditions.
Russian ruble to US dollar exchange rate (USD/RUB)
Since its inception, the exchange rate of the Russian ruble has been adjusted and set by the Bank of Russia. After the partial transition of the ruble to a floating exchange rate, a noticeable weakening occurred. This happened due to the weak growth rates observed in all spheres of activity and the economy of the Russian Federation, and the weak dependence of the ruble on the main export direction, that is, on energy prices. Over the past 2013-2014, the collapse of the ruble was marked by geopolitical problems and the complication of relations between the Russian Federation and neighboring countries, the European Union and the United States. The extremely low attention of traders to this currency pair is explained by constant and strict control by the Bank of Russia.
Chart of the USD/RUB currency pair from 2012 to the present day:
Russian ruble to euro exchange rate (EUR/RUB)
This currency pair attracts slightly more attention than the USD/RUB pair due to the fact that the European Union is one of the main importers of energy resources from the Russian Federation. Thus, EUR/RUB reveals the relationship between one of the world currencies, used as a gold and foreign exchange reserve in most countries of the world, and, in fact, the completely raw material Russian ruble. The Bank of Russia has a strong influence on the state of the Russian ruble, which is still pushing major players away from active actions related to the currency of the Russian Federation. The difficult geopolitical and economic situation around Russia is also reflected in the behavior of the pair; over the past few months, the ruble has weakened significantly, and the pace of the pair’s upward movement is only increasing.
Chart of the EUR/RUB currency pair from 2012 to the present day.
Russian ruble is the official monetary unit in the Russian Federation. Also, the national currency of the Russian Federation is used in Abkhazia and South Ossetia.
On the territory of the Russian Federation, rubles began to circulate after the country gained independence. This happened on July 26, 1993, along with the money reform. And before that, there were Soviet-style rubles, issued in 61, 91 and 92 of the twentieth century. Later, the money was withdrawn from circulation. I sewed cash tickets as a replacement. 1 Russian ruble was a coin that was used since 92 of the twentieth century.
Banknotes used in circulation
In 1995, banknotes previously issued since 93 of the last century were replaced with updated, modified banknotes that had better security functions. In 98, a redenomination took place, after which new money was issued. The smallest change banknote was a five-ruble note, and the largest was a five-hundred ruble note. At the beginning of the new century and later, after five years, money appears in 1000 Russian rubles and 5000, respectively.
Today, money in 5 and 10 rubles is no longer issued, but continues to be in circulation.
Before the start of the first Winter Olympic Games in the Russian Federation in the Krasnodar Territory, in 2013, a commemorative cash ticket of 100 rubles was issued.
What do Russian rubles represent?
Each banknote is related to a specific city of the Russian Federation:
- The minimum five-ruble bill, Novgorod shows. On the front side there is a monument to the “Millennium of Russia”, and on the back side there is a fortress wall of the Novgorod Detinets. The five-ruble bill has a dark green tint.
- The 10 Russian ruble banknote is related to Krasnoyarsk and is made in olive color. The front side depicts a bridge over the Yenisei River. The reverse side is decorated with the Krasnoyarsk hydroelectric station.
- The blue fifty-ruble denomination is the face of St. Petersburg. The front side is decorated with a sculpture at the base of the column, as well as the Peter and Paul Fortress. On the back there is a picture of the exchange house.
- A red-brown paper bill with a face value of 100 Russian rubles, marks the capital of the Russian Federation, Moscow. The front side depicts the square of the Bolshoi Theater. On the back is the facade of the most famous theater.
- A five hundred ruble banknote of a purple hue from Arkhangelsk, on the front side of which you can see a monument to Peter I, as well as a ship in the port. The Solovetsky Monastery is depicted on the reverse side.
- The blue-green denomination of 1000 rubles refers to Yaroslavl. On its front side you can see the monument to the Wise Yaroslav, as well as the Kazan Mother of God chapel. On the back is the Church of St. John the Baptist.
- And finally, on the largest banknote of 5,000 Russian rubles, red-brown in color, on the front side you can see the monument to Muravyov-Amursky. And on the back you can see a bridge over the great river called Amur.
Along with banknotes, in the monetary circulation of Russia, starting from 1992, there were also coins with a nominal value of 1 to 100 rubles. However, later, after the completion of the money reform in 1998, coins ceased to be a means of payment. They were replaced by completely new coins, first from 2002 and then from 2006. An eagle with two heads adorns ruble coins. In turn, on penny coins St. George the Victorious is depicted.
Until 2014, the production of 1 and 5 kopeck coins was stopped, but then resumed again, as the Crimea peninsula joined the Russian Federation.
History of the Russian ruble as the official currency of the Russian Federation
On the current territory of Russia, the ruble has been used as a means of payment since the thirteenth century. There was an opinion that the expression “ruble” came from another verb “to chop”. However, today it has been proven that for some reason the ruble owes its name to the ancient technology of coin production. At first, the ruble was in the form of a coin with a certain proportion of precious metal. But in 1769, the first paper money appeared.
And how freely the Russian ruble currency has felt in history can be judged by the reforms carried out by the Russian government. So, before the collapse of the great power, the Bank of the USSR issued rubles, which are coins, for the last time. And just one year later, the Bank of Russia introduced a new type of ruble into use, both in the form of coins and bank notes. At that time, the smallest coin was 1 ruble. However, the growth that occurred in 1993 provoked an increase in the denomination to 10 rubles. And in 1995, the smallest banknote became a 1000 ruble banknote. The permanent rise in inflation, which began in 1992, inevitably ended, which brought back the old kopecks and created a new Russian ruble.
Fight against counterfeit banknotes
To combat counterfeits, the Ministry of Internal Affairs of the Russian Federation has developed new methods of combating, which consist in conducting certain types of examination. Thus, analysts proposed adding the latest research to the existing list of examinations, thanks to which the internal structure of counterfeit banknotes will become clear. Research in the field of printing will help clarify some of the features of printing equipment. Analysis in the field of materials science will shed light on the light transmittance of the paper, the fastening of the ink, the number of double folds, and so on. A physical and chemical analysis will allow us to study the elemental component of paint and paper.
Similar ideas from the Ministry of Internal Affairs will become an impetus for the development of new devices and instruments with which it will be possible to test money.
Forecast of the Russian ruble and what is happening now on the interbank currency exchange
The events that have been taking place in Ukraine for more than a year could not affect relations between the Russian Federation and the United States. And then there’s the fall in oil prices. And as a result, by the end of 2014 there was a drop. For one dollar, on the interbank currency exchange they give 65 rubles. What will be the forecast for the Russian ruble?
According to many political scientists and economists, the forecast for the Russian ruble for 2015 will be generally positive. This means that the situation will stabilize sooner or later. Experts believe that it is very important to adhere to the course outlined by Russian President V.V. Putin, namely, to reduce pressure on medium and large businesses. It is then that businessmen will begin to part with foreign currency reserves. will reduce the cost to 50 rubles per. However, do not forget about.
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Hello, dear friends! Today we will discuss the topic of the so-called ruble conversion and what code 810 and 643 are. Why do I want to touch on this topic? I have already been sent several times a video about conversion and the ability to pay loans in a smaller amount than established by the agreement. They ask you to comment on whether this is true or not.
The point is that, allegedly, the non-denominated ruble (before 1998) has a code of 810, and the modern one - 643. And it seems that on this basis banks are committing some kind of fraud, taking into account the money in our current accounts in non-denominated rubles.
Those. the whole trick is that 1 ruble using code 643 is equal to 1000 rubles using code 810. The theory of conversion is based on this controversial judgment. In a bank current account, the currency code is the 6,7,8 digits of the account. For example: 40701810.........
Some people believe that it is possible to convert an 810 currency into a 643 currency or vice versa. It saddens me very much that many lawyers and popular bloggers fall for this nonsense. They call changing the currency code the scam of the century, the greatest deception and the like, but at the same time they make a reservation that they cannot prove anything. In addition, there is no judicial practice on the “conversion” of currencies, and there is no legal justification for changing the size of a cash deposit or loan depending on the code value of the currency! Current legal information - Telegram Channel And YouTube Channel.
Below is a video from which the problem will become clear:
I understand people’s desire to pay smaller loans. Loans are an absolute evil, but that’s not what we’re talking about. The time has come, dear readers, to deal once and for all with these numbers and with this “deception of the century.” Let's start with an explanatory video. In the video, I and Candidate of Legal Sciences Pavel Bakhmetyev:
Here's another alternative view:
Denomination 1998
The denomination in Russia occurred on the basis of Decree of the President of the Russian Federation dated August 4, 1997 No. 822 “On changing the face value of Russian banknotes and the scale of prices.”
According to this decree, from January 1, 1998, the ruble was devalued and the circulating money was replaced with new ones at a ratio of 1000 to 1.
In fact, denomination was the replacement of old-style money with new ones. At the same time, the purchasing power of our currency has not changed at all.
All-Russian currency classifier OK 014-94
Date of introduction - 07/01/1995
OKV was developed on the basis of an international standard for use in forecasting foreign economic relations, accounting for foreign exchange receipts and payments, accounting and statistical accounting, operational reporting on transactions related to international payments, monitoring compliance with contractual and payment discipline.
The Russian ruble had a sign - “810”, and a letter sign - “RUR”. Other currencies had different digital values. US dollar - 840, Euro - 978.
Thus, at the time of denomination, the digital value of the currency was “810”
All-Russian currency classifier OK (MK (ISO 4217) 003-97) 014-2000
Date of introduction - 07/01/2001
The All-Russian Classifier of Currencies was approved by Resolution of the State Standard of Russia dated December 25, 2000 No. 405-st.
The classifier is part of the Unified System of Classification and Coding of Technical, Economic and Social Information (ESKK) of the Russian Federation.
The classifier is intended for the same purposes as the expired classifier OK 014-94.
The Russian ruble had a sign - “810”, and a letter sign - “RUR”.
In addition, from this period (from 07/01/2001), the position “643” (“RUB”) is used with the explanation that the position refers to a denominated ruble.
Changes No. 6/2003 OKW
Since January 1, 2004, the Russian ruble has a digital code - “643”, and an alphabetic code - “RUB”. From this moment on, the code “810” ceases to exist.
It should be understood that the classifier primarily performs statistical functions, and the value 810 is not currently assigned to any currency. Those. There is currently no currency in the world with code 810, according to the Classifier.
Despite the fact that in the all-Russian classifier the code of the Russian ruble was changed to 643, the code 810 was left in the structures of domestic Russian current accounts.
Thus, the chronology of events can be presented in the table:
Thus, in the period from 01/01/1998 to 01/01/2001, the ruble was already denominated, and the value 643 appeared only in 2001. Conversion theorists, I believe, do not take this circumstance into account.
What is a current account?
A checking account is simply an account that banks use to record money transactions.
In Russia there is a Central Bank that determines the order of numbers in the current account number. So, if you want to know why banks use the digital value 810, just take and open the Regulations on the Chart of Accounts for Credit Institutions and the procedure for its application approved by the Bank of Russia on February 27, 2017 N 579-P. Everything will become clear to you!
Regulations on the Chart of Accounts
In fact, the order of the numbers and their meaning is determined by this Regulation.
The Regulations on the Chart of Accounts for Credit Institutions and the procedure for its application, approved by the Bank of Russia on February 27, 2017 N 579-P, establishes the following:
The characters in the personal account number are located, starting from the first digit, on the left. The numbering of the personal account begins with the section number. When carrying out transactions on accounts in foreign, clearing currencies, as well as in precious metals in a personal account, the corresponding codes provided for by the All-Russian Currency Classifier (OKV) are indicated in the categories intended for the currency code, and for accounts in the currency of the Russian Federation, the ruble sign is used “ 810"
The Regulations also determine that the accounts of commercial non-governmental organizations begin with “407”, and the accounts of individual entrepreneurs begin with “408” and so on and so forth.
Thus, for current accounts, the ruble sign is used - 810. Despite the fact that the Regulation I cited has been in effect since 2017, the previously valid regulation has a similar explanation.
There is no deception or evil intention here. It seems to me that this should be clear to any sane person. These numbers are simply used for convenience. That's all. They do not affect purchasing power. Moreover, currently non-denominated money is not used in Russia.
Moreover, in Russia there should be no accounts that use the value 643, since this would contradict the above Regulation.
At the same time, if someone opens a current account with a value of 643, then this will not change anything.
What happens if you pay bill 643?
Dear friends, if you pay your loans or utility bills by entering code 643, then you will not change the purchasing power of money in any way.
For example, you have heard enough of various gurus who tell you that a loan of 5,000 rubles per month must be repaid to account 643 in the amount of 5 rubles per month. Yes, you can indicate this in the payment order. But understand that later the bailiffs will work with you when the bank sues and wins the case without any problems.
My personal opinion
There is no conversion and cannot be. Don't get carried away with this topic. The whole possibility of conversion is nothing more than a play on words and complete nonsense. Code 810 and 643 are nothing more than statistics that are used in the classifier. And in current accounts the numbers 810 are used because the Central Bank of Russia indicated so. Tomorrow they will change the code to another number and nothing will change. This is just a statistical accounting.
There are other classifiers, for example, the All-Russian Classifier of Types of Economic Activities. At some time there were two of them too. One was used, then another.
Or, for example, identification documents have a classification. So, the passport has the number “21”. If this number is changed tomorrow, this will not mean that the passport has become invalid.
Thus, this whole “theory” is complete nonsense and illiteracy. Anyone who is in a hurry to talk about the possible conversion of the ruble from one code to another does not themselves have positive practice. There are no court decisions either. There is no legal justification or confirmation.
All these gurus, by and large, exploit people’s desire to get rid of credit bondage or not pay loans at all. That's all. I'm sorry that so many lawyers have succumbed to this stupidity. They cannot prove anything, but with their authority they strengthen the spread of all kinds of myths.
I wish everyone financial stability and prosperity. There is a lot of deception and injustice in our society, including in the functioning of the banking system, but conversion is not that topic.
Telegram Channel And YouTube Channel.
More than one more or less serious area of activity cannot do without standardization - clear orderliness helps to avoid serious problems. Naturally, each currency in the world has its own standards - both regional (the appearance of banknotes) and international. International currency standards include currency codes.
In general, the development and issuance of international standards in most areas of human activity is carried out by International Organization for Standardization– ISO (International Organization for Standardization). The list of international standards is extensive - from paper format to transliteration of characters from different alphabets into the Latin alphabet. One of the international standards developed by ISO is currency codes.
Why do we need currency codes at all? They help represent currencies in data processing in financial systems. Using abbreviated currency codes allows you to simplify and speed up financial transactions. A banal everyday example: exchange rates in banks are also written in abbreviated form. So even if you are abroad, you can understand the exchange rate at any bank - international currency codes are universal and do not need translation.
In addition, there is no confusion and no need for clarification in cases where different countries use the same currency name(say, American and Canadian dollars, Russian and Belarusian rubles).
Currency codes are defined international standard ISO 4217(Interstate Classifier of Currencies MK). This standard, in turn, is based on the ISO 3166-1 alpha-2 state coding standard - two-letter codes for states and dependent territories. Two-letter codes are used not only to designate the national currency but also, for example, in first-level domain names (.ru, .ua, .сz, etc.).
In order to form currency codes from two-letter country codes, one letter of the name of the currency is added to them. Usually this is the first letter, for example:
- USD – US (United States) + Dollar;
- UAH – UA (Ukraine) + Hrivna;
- LTL – LT (Latvia) + Lat.
Of course, there are exceptions to the “first letter rule”. Thus, the Azerbaijani manat is reduced to AZN (and not AZM, as one might think), the Angolan kwanza to AOA, etc. But the two exceptions that we encounter most often are the euro and the Russian ruble. The code for the euro is EUR, and in countries where the euro is used as the official currency, of course, there is no specific code for the national currency.
And the Russian ruble was previously reduced according to the general principle - RUR (Russian Ruble). But in 1998, a denomination occurred in Russia (a change in the face value of the ruble). Denomination allows you to combat the consequences of hyperinflation and simplify calculations. Old rubles were replaced with new ones with a ratio of 1000:1 (1000 old rubles corresponded to 1 new one). The currency code has been changed from RUR to RUB- obviously, to distinguish between “old” rubles and “new” ones. So the generally accepted abbreviation of the modern ruble is RUB.
Letter codes of currencies that begin with the letter X, have international currencies, as well as other assets (for example, precious metals - silver, gold, platinum, palladium). For non-currency transactions, code XXX is used. In addition to alphabetic ones, there are also digital currency codes. They also consist of three characters and are regulated by the ISO 4217 standard.
At the moment, the official list of currency codes according to ISO 4217 has 280 positions and includes alphabetic and digital codes of currencies of different countries, international currencies and other assets. Based on the ISO 4217 standard, it was developed OKV - All-Russian Classifier of Currencies.
