|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The ruble or rouble (Russian: рубль rublʹ, plural рубли́ rubli; see note on English spelling and Russian plurals with numbers) is the currency of the Russian Federation and the two self-proclaimed republics of Abkhazia and South Ossetia. Formerly, the ruble was also the currency of the Soviet Union and the Russian Empire prior to their breakups. The ruble is subdivided into 100 kopecks (sometimes transliterated kopeks, or copecks, Russian: копе́йка, plural: копе́йки or копеек). The ISO 4217 code is RUB; the former code, RUR, refers to the Russian ruble prior to the 1998 denomination (1 RUB = 1000 RUR). As yet there is no official symbol for the ruble, though R[1] [2] and руб are currently in use. РР and an R with two horizontal strokes across the top have both been put forward as possibilities.
Etymology
Names of different denominationsIn the 18th, 19th and 20th centuries, several coins had individual names:
The amount of 10 rubles (in either bill or coin) is sometimes informally referred to as a chervonets. Historically, it was the name for the first Russian 3-ruble gold coin issued for general circulation in 1701. The current meaning comes from Soviet golden chervonets (советский золотой червонец) issued in 1923 that was equivalent to the pre-revolution 10 gold rubles. All these names are obsolete. The practice of using the old kopeck coin names for amounts in rubles is now very common. In modern Russian slang only these names are used:
The penultimate term derived from "пять кать" (five Catherines). Katya (катя, Catherina) having been a slang name for the 100 rouble note in tsarist Russia, as the note had a picture of Catherine II on it. HistoryImage:Russian Empire-1898-Bill-1-Reverse.jpg 1898 Russian Empire one rouble bill, obverse Image:Russian Empire-1898-Bill-1-Obverse.jpg 1898 Russian Empire one rouble bill, reverse First ruble, Antiquity - December 31 1921
The amount of precious metal in a ruble varied over time. In a 1704 currency reform, Peter I standardized the ruble to 28 grams of silver. While ruble coins were silver, there were higher denominations minted of gold and platinum. By the end of the 18th century, the ruble was set to 4 zolotnik 21 dolya (almost exactly equal to 18 grams) of pure silver or 27 dolya (almost exactly equal to 1.2 grams) of pure gold, with a ratio of 15:1 for the values of the two metals. In 1828, platinum coins were introduced with 1 ruble equal to 77⅔ dolya (3.451 grams). On December 17, 1885, a new standard was adopted which did not change the silver ruble but reduced the gold content to 1.161 grams, pegging the gold ruble to the French franc at a rate of 1 ruble = 4 francs. This rate was revised in 1897 to 1 ruble = 2⅔ francs (0.774 grams gold). With the outbreak of the First World War, the gold standard peg was dropped and the ruble fell in value, suffering from hyperinflation in the early 1920s. Second ruble, January 1 1922 - December 31 1922In 1922, the first of several redenominations took place, at a rate of 1 "new" ruble for 10,000 "old" rubles. The chervonets (червонец) was also introduced in 1922. Third ruble, January 1 1923 - March 6 1924A second redenomination took place in 1923, at a rate of 100 to 1. Again, only paper money was issued. During the lifetime of this currency, the first money of the Soviet Union was issued. Fourth (Gold) ruble, March 7 1924 - 1947A third redenomination in 1924 introduced the "gold" ruble at a value of 50,000 rubles of the previous issue. This reform also saw the ruble linked to the chervonets, at a value of 10 rubles. Coins began to be issued again in 1924, whilst paper money was issued in rubles for values below 10 rubles and in chervonets for higher denominations. Fifth ruble, 1947 - 1961Following World War II, the Soviet government implemented a confiscatory redenomination of the currency to reduce the amount of money in circulation. This only affected the paper money. Old rubles were revalued at one tenth of their face value. Sixth ruble, 1961 - December 31 1997
The 1961 redenomination was a repeat of the 1947 reform, with the same terms applying. The Soviet ruble of 1961 was formally equal to 0.987412 gram of gold, but the exchange for gold was never available to the general public. Following the breakup of the Soviet Union in 1991, the ruble remained the currency of the Russian Federation. New set of banknotes was issued in the name of Bank of Russia in 1993. During the period of high inflation of the early 1990s, the ruble was significantly devalued. Seventh ruble, January 1 1998 -
The ruble was redenominated on January 1, 1998, with one new ruble equalling 1000 old rubles. The redenomination helped to reduce inflation but did not solve fundamental economic problems faced by the Russian economy at the time, and the currency was devalued in August 1998 following the Asian financial crisis. The ruble lost 70% of its value against the U.S. Dollar in the 6 months following this Russian financial crisis. In November of 2004, the authorities of Dimitrovgrad (Ulyanovsk Oblast) erected a five-meter monument to the ruble. CoinsFirst rubleAt the beginning of the 19th century, copper coins were issued for ¼, ½, 1, 2 and 5 kopecks, with silver 5, 10, 25 and 50 kopecks and 1 ruble and gold 5 and 10 rubles, although production of the 10 ruble coin ceased in 1806. Silver 20 kopecks were introduced in 1820, followed by copper 10 kopecks minted between 1830 and 1839, and copper 3 kopecks introduced in 1840. Between 1828 and 1845, platinum 3, 6 and 12 rubles were issued. In 1860, silver 15 kopecks were introduced, due to the use of this denomination (equal to 1 złoty) in Poland, whilst, in 1869, gold 3 rubles were introduced. See also: Currency of Three In 1886, a new gold coinage was introduced consisting of 5 and 10 ruble coins. This was followed by another in 1897. In addition to smaller 5 and 10 ruble coins, 7½ and 15 ruble coins were issued for a single year, as these were equal in size to the previous 5 and 10 ruble coins. The gold coinage was suspended in 1911, with the other denominations produced until the First World War. Fourth, fifth and sixth rublesIn 1924, coins were introduced for 1, 2, 3, 5, 10, 20 and 50 kopecks and 1 ruble, with ½ kopeck coins introduced in 1925. The 1, 2, 3 and 5 kopecks were struck in bronze, whilst the 10, 20 and 50 kopeck and 1 ruble were silver. The 1 ruble was only issued in 1924 and production of the ½ and 50 kopecks was stopped in 1927. In 1926, aluminium-bronze replaced bronze in the 1, 2, 3 and 5 kopecks and, in 1931, the remaining silver coins were replaced with cupro-nickel. This coinage was unaffected by the redenominations of 1947 and 1961. However, 1961 did see the introduction of new coins, with 1 and 2 kopecks in brass, 3 and 5 kopecks in aluminium-bronze, and 10, 20 and 50 kopecks and 1 ruble in nickel-brass. In 1991, a new coinage was introduced in denominations of 10 and 50 kopecks, 1, 5 and 10 rubles. The 10 kopecks was struck in copper-plated steel, the 50 kopecks, 1 and 5 rubles were in cupro-nickel and the 10 rubles was bimetallic with an aluminium-bronze centre and a cupro-nickel ring. After the end of the Soviet Union, the Russian Federation introduced coins in 1992 in denominations of 1, 5, 10, 20, 50 and 100 rubles. The 1 and 5 rubles were minted in brass-clad steel, the 10 and 20 rubles in cupro-nickel and the 50 and 100 rubles were bimetallic (aluminium-bronze and cupro-nickel). In 1993, aluminium-bronze 50 rubles and nickel-brass 100 rubles were issued. Regularly issued commemorative one ruble coin during this period is practically identical in size and weight to a 5 Swiss franc coin (worth approx. €3 / US$4). For this reason, there have been several instances of (now worthless) ruble coins being used on a large scale to defraud automated vending machines in Switzerland. [3] Seventh rubleIn 1998, the following coins were introduced:
1 and 5 kopek coins are rarely used (especially 1 kopeck coin) due to their small value and in many cases are not accepted by stores or individuals. In some cases the 10 kopeck coin is also occasionally refused. Note that all these coins began being issued in 1998, despite the fact the some of them bear the year 1997. There are now 10 ruble jubilee and commemorative coins (bimetallic) meant to replace 10 ruble notes. BanknotesFirst rubleImperial issuesIn 1769, state assignats were introduced for 25, 50, 75 and 100 rubles, with 5 and 10 rubles added in 1787 and 200 ruble in 1819. The value of the assignats fell relative to the coins until, in 1839, the relationship was fixed at 1 coin ruble = 3½ assignat rubles. In 1840, the State Commercial Bank issued 3, 5, 10, 25, 50 and 100 rubles notes, followed by 50 ruble credit notes of the Custody Treasury and State Loan Bank. In 1843, state credit notes were introduced in denominations of 1, 3, 5, 10, 25, 50 and 100 rubles. These circulated, in various types, until the revolution, with 500 rubles notes added in 1898 and 250 and 1000 rubles notes added in 1917. In 1915, two kinds of small change notes were issued. One, issued by the Treasury, consisted of regular style (if small) notes for 1, 2, 3, 5 and 50 kopecks. The other consisted of the designs of stamps printed onto card with text and the imperial eagle printed on the reverse. These were in denominations of 1, 2, 3, 10, 15 and 20 kopecks. Provisional Government issuesIn 1917, the Provisional Government issued treasury notes for 20 and 40 rubles. These notes are known as "Kerenki" or "Kerensky rubles". The provisional government also had 25 and 100 rubles state credit notes printed in the U.S.A. but most were not issued. RSFSR issuesIn 1918, state credit notes were introduced by the R.S.F.S.R. for 1, 3, 5, 10, 25, 50, 100, 250, 500, 1000, 5000 and 10,000 rubles. These were followed in 1919 by currency notes for 1, 2, 3, 15, 20, 60, 100, 250, 500, 1000, 5000 and 10,000 rubles. In 1921, currency note denominations of 5, 50, 25,000, 50,000, 100,000, 1 million, 5 million and 10 million rubles were added. Second rubleOnly state currency notes were issued for this currency, in denominations of 1, 3, 5, 10, 25, 50, 100, 250, 500, 1000, 5000 and 10,000 rubles. Third rubleAs with the previous currency, only state currency notes were issued, in denominations of 50 kopecks, 1, 5, 10, 25, 50, 100, 250, 500, 1000, 5000 and 10,000 rubles. In early 1924, just before the next redenomination, the first paper money was issued in the name of the USSR, featuring the state emblem with 6 bands around the wheat, representing the language of the then 4 constituent republics of the Union: Russian SFSR, Transcaucasian SFSR (Azerbaijani, Armenian, and Georgian), Ukrainian SSR and Byelorussian SSR. They were dated 1923 and were in denominations of 10,000, 15,000, and 25,000 rubles. Fourth rubleIn 1924, state currency notes were introduced for 1, 3 and 5 gold rubles (рубль золотом). These circulated alongside the chervonets notes introduced in 1922 by the State Bank in denominations of 1, 3, 5 10 and 25 chervonets. State Treasury notes replaced the state currency notes after 1928. In 1938, new notes were issued for 1, 3 and 5 rubles, dropping the word "gold". Fifth rubleIn 1947, State Treasury notes were introduced for 1, 3 and 5 rubles, along with State Bank notes for 10, 25, 50 and 100 rubles. Sixth rubleIn 1961, new State Treasury notes were introduced for 1, 3 and 5 rubles, along with new State Bank notes for 10, 25, 50 and 100 rubles. In 1991, the State Bank took over production of 1, 3 and 5 ruble notes and also introduced 100, 200 and 500 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 U.S.S.R. before the Russian Federation introduced notes for 5000 and 10,000 rubles. These were followed by 100,000 and 500,000 ruble notes in 1993 and 500,000 rubles in 1995. Since the break up 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 1000 ruble note depicting a statue of Yaroslav the lack of recognizable faces on the currency has been partially alleviated.
The 1000 ruble note did not continue as a 1 new ruble note. Seventh rubleIn 1998, the following banknotes were introduced:
All Russian paper money is currently printed at the state-owned factory Goznak in Moscow, which was organized on June 6, 1919 and has continued to operate ever since. Coins are minted in the Monetny Dvor mint in St. Petersburg that has operated since 1724 and in Moscow. Current RUB exchange rates
See alsoReferences
Sites |
Searched sites for "Russian ruble" |
|
No sites found. |
Sorry, no matching site records were found. |
Want your site listed here?
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Submit
your site |
 |
|
Relevant quality search results and fast easy navigation throughout the
different sections of the site, make Americola.com |
