Russian Ruble

Overview

Economy

• Russia is a member of BRICS, EAEU, CIS, SCO, CSTO.
• Main industries include: Oil and gas, Mining, Defense, Machine building, Chemical, Agricultural processing, Transportation equipment, Communications equipment.
• Russia is part of the World Trade Organization.
• Imports are machinery, vehicles, pharmaceutical products, plastic, semi-finished metal products, meat, fruits, nuts, optical instruments, iron, steel.
• Major exports include petroleum products, natural gas, metals, wood, agricultural products, chemicals, wide variety of civilian and military manufactures.
• GDP: $2.24 trillion (2023 est.).
• GDP per capita: $15,345 (2023 est.).
• Unemployment rate: 3.3% (2023 est.).
• Inflation rate: 5.9% (2023 est.).
• Main trading partners: China, Germany, Netherlands, Belarus, Turkey, Kazakhstan.
• Trade agreements: EAEU, Various bilateral agreements.

History

• Previous currencies used: Soviet ruble, Various historical Russian currencies.
• The ruble has been Russia's currency since the 13th century. The modern ruble was reintroduced in 1998 after the 1998 financial crisis, replacing the previous ruble at 1000:1.
• 13th century: First ruble coins appeared
• 1704: Peter the Great's monetary reform
• 1897: Gold standard adopted
• 1922: Soviet ruble established
• 1991: Russian ruble after USSR collapse
• 1998: Financial crisis and redenomination (1000:1)
• 2014: Sanctions and oil price collapse
• 2022: Severe sanctions following geopolitical events
• Exchange rate peg: Free floating (with heavy intervention during crises).

General Information

• ISO 4217 Code: RUB
• Symbols: RUB/₽
• Currency Subunits: 100 kopecks
• Central Bank: Central Bank of Russia (Bank of Russia)
• Monetary Policy: Inflation targeting with flexible exchange rate. Focus on price stability while managing external economic pressures and sanctions.
• Bills: 50 RUB, 100 RUB, 200 RUB, 500 RUB, 1000 RUB, 2000 RUB, 5000 RUB
• Coins: 1 kopeck, 5 kopecks, 10 kopecks, 50 kopecks, 1 ruble, 2 rubles, 5 rubles, 10 rubles
• USD Exchange Rate: Variable (approximately 75-90 RUB per USD, highly volatile)
• Pegged To: None (Floating)
• Capital: Moscow
• Population: 144,444,359 (2023 est.)
• Area: 17,098,242 km²
• Languages: Russian (official), Tatar, Ukrainian, Bashkir, Chuvash, Chechen, Over 100 minority languages
• Time Zones: UTC+2 to UTC+12 (11 time zones)
• Government Type: Federal semi-presidential republic
• Head of Government: President (head of state), Prime Minister (head of government)
• Independence: August 24, 1991 (from Soviet Union)
• Ethnic Groups: Russian 81%, Tatar 3.9%, Ukrainian 1.4%, Bashkir 1.2%, Chuvash 1%, Chechen 1%, Other 10.5%
• Religions: Russian Orthodox 15-20%, Muslim 10-15%, Other Christian 2%, Non-religious 16-48%
• Literacy Rate: 99.7% (2018 est.)
• Transport: Trans-Siberian Railway, extensive road networks, major airports (Moscow, St. Petersburg), Arctic and Pacific ports
• Communications: Extensive telecommunications, 85% internet penetration, widespread mobile coverage
• Energy: Natural gas 47%, Oil 19%, Coal 16%, Nuclear 11%, Hydroelectric 6%, Other renewables 1%
• Countries Using This Currency: Russia
• Data Sources: Central Bank: Central Bank of Russia (cbr.ru), Economic Data: Federal State Statistics Service, World Bank, IMF, Trade Data: Federal Customs Service of Russia, Demographic Data: Federal State Statistics Service, Geographic Data: Hydrometeorological Service of Russia, Historical Data: Central Bank of Russia archives
• Last Updated: 2025