1 Dolar Rubl

The ruble was the currency of the Russian Empire and of the Soviet Union (as the Soviet ruble). In 1992, the currency imagery underwent a redesign as a result of the fall of the Soviet Union. The first Russian ruble (code: RUR) replaced the Soviet ruble (code: SUR) in September 1993 at par.

The ruble has been used in the Russian territories since the 14th century,[2] and is the second-oldest currency still in circulation, behind sterling.[3]Initially an uncoined unit of account, the ruble became a circulating coin in 1704 just before the establishment of the Russian Empire. It was also the first currency in Europe to be decimalised in 1704, when it was divided into 100 kopecks. The ruble has seen several incarnations and redenominations during its history, the latest of which is the introduction in 1998 of the current Russian ruble (code: RUB) at the rate of 1 RUB = 1,000 RUR.

1 Dolar Rubl

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Following the dissolution of the Soviet Union in 1991, the Soviet ruble remained the currency of the Russian Federation until 1992. A new set of coins was issued in 1992 and a new set of banknotes was issued in the name of Bank of Russia in 1993. The currency replaced the Soviet ruble at par and was assigned the ISO 4217 code RUR and number 810.

After the fall of the Soviet Union, the Russian Federation introduced new coins in 1992 in denominations of 1, 5, 10, 20, 50, and 100 rubles. The coins depict the double-headed eagle without a crown, sceptre and globus cruciger above the legend " " ("Bank of Russia"). It is exactly the same eagle that the artist Ivan Bilibin painted after the February Revolution as the coat of arms for the Russian Republic.[4] The 1 and 5-ruble coins were minted in brass-clad steel, the 10 and 20-ruble coins in cupro-nickel, and the 50 and 100-ruble coins were bimetallic (aluminium-bronze and cupro-nickel-zinc). In 1993, aluminium-bronze 50-ruble coins and cupro-nickel-zinc 100-ruble coins were issued, and the material of 10 and 20-ruble coins was changed to nickel-plated steel. In 1995 the material of 50-ruble coins was changed to brass-plated steel, but the coins were minted with the old date 1993. As high inflation persisted, the lowest denominations disappeared from circulation and the other denominations became rarely used.

In 1961, new State Treasury notes were introduced for 1, 3 and 5 rubles, along with new State Bank notes worth 10, 25, 50, and 100 rubles. In 1991, the State Bank took over production of 1, 3 and 5-ruble notes and also introduced 200, 500 and 1,000-ruble notes, although the 25-ruble note was no longer issued. In 1992, a final issue of notes was made bearing the name of the USSR before the Russian Federation introduced 5,000 and 10,000-ruble notes. These were followed by 50,000-ruble notes in 1993, 100,000 rubles in 1995 and, finally, 500,000 rubles in 1997 (dated 1995).

Since the dissolution of the Soviet Union in 1991, Russian ruble banknotes and coins have been notable for their lack of portraits, which traditionally were included under both the Tsarist and Communist regimes. With the issue of the 500-ruble note depicting a statue of Peter I and then the 1,000-ruble note depicting a statue of Yaroslav, the lack of recognizable faces on the currency has been partially alleviated.

In 1998 the Russian ruble was redenominated with the new ISO 4217 code "RUB" and number 643, and was exchanged at the rate of 1 RUB = 1,000 RUR. All Soviet coins issued between 1961 and 1991, as well as 1-, 2- and 3-kopeck coins issued before 1961, also qualified for exchange into new rubles.[6]

A currency symbol was used for the ruble between the 16th century and the 18th century. The symbol consisted of the Russian letters "" (rotated 90 anti-clockwise) and "" (written on top of it). The symbol was placed over the amount number it belonged to.[13] This symbol, however, fell into disuse by the mid-19th century.[14]

In July 2007, the Central Bank of Russia announced that it would decide on a symbol for the ruble and would test 13 symbols. This included the symbol (the initials of "Russian ruble"), which received preliminary approval from the Central Bank.[21] However, one more symbol, a with a horizontal stroke below the top similar to the Philippine peso sign, was proposed unofficially.[21] Proponents of the new sign claimed that it is simple, recognizable and similar to other currency signs.[22][23][24] This symbol is also similar to the Armenian letter or the Latin letter .

All Russian ruble banknotes are currently printed at the state-owned factory Goznak in Moscow, which was founded on 6 June 1919 and operated ever since. Coins are minted in the Moscow Mint and at the Saint Petersburg Mint, which has been operating since 1724.

On 16 October 2023, the day of unveilling of the new design of the 1,000-ruble note, the design of the note was criticised by Russia's Orthodox Church for displaying the Islamic cresent on one of the buildings on the reverse of the note at the same time as excluding the Orthodox cross from a different building (a former church that is now a museum).[52] The Bank of Russia claimed that the image was not selected to provoke or disregard any faith, but announced on the following day that the design would be revised and the notes would not be printed.[53][54]

On 23 November 2010, at a meeting of Russian Prime Minister Vladimir Putin and Chinese Premier Wen Jiabao, it was announced that Russia and China had decided to use their own national currencies for bilateral trade, instead of the US dollar. The move is aimed to further improve relations between Beijing and Moscow and to protect their domestic economies during the Great Recession. The trading of the Chinese yuan against the ruble has started in the Chinese interbank market, while the yuan's trading against the ruble was set to start on the Russian foreign exchange market in December 2010.[62][better source needed]

In January 2014, President Putin said there should be a sound balance on the ruble exchange rate; that the Central Bank only regulated the national currency exchange rate when it went beyond the upper or lower limits of the floating exchange rate; and that the freer the Russian national currency is, the better it is, adding that this would make the economy react more effectively and timely to processes taking place in it.[63]

The first Russian ruble (RUR) introduced in January 1992 depreciated significantly versus the US dollar from US$1 = 125 RUR to around US$1 = 6,000 RUR (or 6 RUB) when it was redenominated in January 1998. The new ruble then depreciated rapidly in its first year to US$1 = 20 RUB before stabilizing at around US$1 = 30 RUB from 2001 to 2013.

The crisis affected the Russian economy, both consumers and companies, and regional financial markets, as well as Putin's ambitions regarding the Eurasian Economic Union. The Russian stock market in particular experienced large declines, with a 30% drop in the RTS Index from the beginning of December through 16 December 2014. From July 2014 to February 2015 the ruble fell dramatically against the U.S. dollar. A 6.5 percentage point interest rate rise to 17 percent[71] failed to prevent the currency hitting record lows in a "perfect storm" of low oil prices, looming recession and Western sanctions over the Ukraine crisis.[72]

Grozovski told Newsweek that the entire Russian government spending plan in 2022 was approximately 23.7 trillion rubles ($346 billion USD), of which approximately 3.5 trillion rubles ($46.1 billion) would be spent militarily and 2.8 trillion rubles ($36.9 billion) would go towards police and security services (FSB).

Sergey Aleksashenko, former Russian deputy of finance, wrote on Al-Jazeera in December that a federal budget line item defined as "General National Issues" increased extraordinarily in 2022, jumping by 50 percent to 2.629 trillion rubles ($42 billion). Such expenses are typically derived from administrative activities of all branches of the government, he said.

With a lack of a "clear winner" or negotiated settlement, it's possible the war will carry on as it has for the next year at least. Grozovski said the Russian government is planning to spend about 4 trillion rubles on the war effort in 2023. Extra spending could go towards war in the same budgeted capacities, for healthcare, education and the economy.

"We can estimate that the only federal budget spending could in 2023 total as much as in 2022 (11-12 trillion rubles)," Grozovski said. "Now the Russian government understands that these sums aren't enough and is looking for extra money. Also, the government is trying to redirect some funds from regional budgets to war and raise some funds from businesses and households."

The $3 trillion ruble budget deficit Russia is expected to have from 2022 to 2024 is about 2 percent of GDP, he noted. But it is not a major worry for Putin because state banks will continue to buy government-issued bonds. The scheme will increase inflation slightly but will keep the war funded.

This week the plummeting ruble showed a flicker of life on the back of a giant emergency rate hike overseen by Russia's central bank after it had dipped below the psychologically important threshold of 100 rubles to the dollar.

For Central Asian countries, the ruble has outsized importance due to the region's level of economic integration with Moscow and because of the millions of migrants from the region -- chiefly from Kyrgyzstan, Tajikistan, and Uzbekistan -- that earn money in Russia.

And the days of the ruble going from freefall to the world's best-performing currency overnight -- a development attributed to stringent capital controls and a trade surplus buoyed by high prices for Russian exports -- now seem a very long way away.

Indeed, the ruble is so cheap that it is posing a dilemma for neighboring countries caught between a potential flood of Russian imports and politically contentious decisions to allow their own currencies to follow suit. ff782bc1db