The Russian Ruble is the currency of the Russian Federation. It is also the currency of two partially recognized republics, Abkhazia and South Ossetia, as well as two unrecognized republics, Donetsk and Luhansk. The currency code for Rubles is RUB, and the currency symbol is ₽. The ruble is subdivided into 100 kopeks (sometimes written as kopecks or copecks). Our Ruble to Rupee rates are live and updated every 3 seconds. You can use the currency converter on this page to see up-to-date exchange rates for the Russian Ruble.
History of the RUSSIAN RUBLE
The Ruble has been the currency of Russia for approximately 500 years. It has been used in various countries throughout its history, with different versions of the ruble due to changes in the currency’s value. The first ruble was used around 1500 and continued until 1921. There have been six changes or variations of the ruble since then. The most recent change came in 1998, when the Russian government introduced a new currency, the ruble (Рубль), worth 1000 old rubles.
How to Buy Russian Rubles?
If you’re planning a trip to Russia, you’ll need to get your hands on some Russian rubles. Here’s how to do it:
1. Check the exchange rate.
Before you buy any foreign currency, it’s important to check the current exchange rate. This will help you determine how much money you’ll need to get the desired amount of rubles.
2. Find a reputable dealer.
There are many places where you can buy foreign currency, but not all of them are created equal. It’s important to find a reputable dealer who offers competitive rates and good customer service.
3. Buy rubles in advance.
It’s generally best to buy foreign currency in advance of your trip, as this will help you get the best exchange rate.
4. Use a credit card.
If you’re planning to use a credit card while in Russia, it’s important to make sure that it doesn’t charge foreign transaction fees. These fees can add up quickly and eat into your travel budget.
5. Bring cash.
While using a credit card is convenient, it’s also important to bring some cash with you when traveling to Russia. This way, you’ll have access to funds in case of an emergency.
6. Know the conversion rate. When converting your money into Russian rubles, it’s important to know the current conversion rate. This will help you ensure that you’re getting the most bang for your buck.
7. Withdraw cash from an ATM.
One of the easiest ways to get rubles is to simply withdraw them from an ATM once you arrive in Russia. This is also one of the quickest and most convenient methods.
8. Use a currency exchange office.
If you need to exchange large amounts of money, it’s best to do so at a currency exchange office. These offices typically offer better rates than banks or hotels.
9. Know the customs regulations.
When bringing foreign currency into Russia, it’s important to know the customs regulations. This way, you’ll avoid any potential problems when entering the country.
10. Keep your receipts.
Whenever you make a purchase with foreign currency, be sure to keep your receipts. This will come in handy if you need to exchange any leftover currency when you leave Russia.
Stability of Ruble
The Russian ruble has been relatively stable in recent months, remaining well above the record-low level of 150 per USD that it hit in March. This stability is due in part to strict capital controls and trade imbalances that have been put in place by the Russian government.
Despite these measures, however, the Russian economy is still feeling the effects of its increasing isolation from the international community. This is particularly evident in the form of lower oil prices, which have had a negative impact on Russia’s export-dependent economy.
Still, with the ruble remaining relatively strong compared to other currencies in the region, it appears that Russia is weathering the storm for now. Only time will tell how long this relative stability can be maintained, however, as the country’s economic challenges continue to mount.
Where you can Buy Russian Rubles?
1. Russian Rubles can be bought at any major currency exchange.
2. You can also buy Russian Rubles online through a number of different exchange services.
3. Another option for buying Russian Rubles is to use a prepaid debit card that can be loaded with Rubles before you travel to Russia.
4. Finally, there are a few ATMs in Moscow that dispense Rubles, so you can get cash if needed.
Keep in mind that the exchange rate for Rubles can fluctuate, so it’s a good idea to check the latest rates before making any purchases. Also, be sure to have your passport and visa ready when exchanging currency.
Is it worth Buying Russian Rubles?
The Russian Ruble has been on a roller coaster ride in recent years. In 2014, the currency plunged to record lows against the US dollar, only to stage a dramatic recovery in 2016. So, what’s behind these wild swings?
There are a few factors that have contributed to the volatile nature of the Russian Ruble. First and foremost, the currency is closely linked to the price of oil. Russia is one of the world’s largest crude oil producers, and oil exports make up a significant portion of the country’s economy.
When oil prices collapsed in 2014, it put immense downward pressure on the Ruble. As demand for Russian oil dried up, the value of the Ruble plummeted.
Similarly, when oil prices started to rebound in 2016, it gave a boost to the Russian currency. The Ruble rallied sharply against the US dollar, as oil prices climbed back above $50 per barrel.
Aside from oil, another key factor that has influenced the Russian Ruble is sanctions. Western countries have imposed a series of economic sanctions on Russia since 2014, in response to the country’s annexation of Crimea.
These sanctions have weighed heavily on the Russian economy, and have helped to keep the value of the Ruble low. As long as these sanctions remain in place, it is likely that the Ruble will remain under pressure.
The Russian Ruble is a volatile currency that can be influenced by a number of different factors. Oil prices and sanctions have been two of the biggest drivers in recent years. While the Ruble has recovered from its lows in 2016, it remains vulnerable to further swings in these underlying factors.