The ruble or rouble (Russian: рубль, rublʹ, plural рубли́, rubli; see note on English spelling) (code: RUB) is the currency of Russia and the two partially recognized republics of Abkhazia and South Ossetia. Formerly, the ruble was also the currency of the Russian Empire and the Soviet Union before their dissolution. Belarus and Transnistria use currencies with the same name. The ruble is subdivided into 100 kopeks (sometimes written as kopecks or copecks; Russian: копе́йка, kopeyka; plural: копе́йки, kopeyki). The ISO 4217 code is RUB or 643; the former code, RUR or 810, refers to the Russian ruble before the 1998 redenomination (1 RUB = 1,000 RUR).Contents [hide] 1 History1.1 Etymology1.2 Names of different denominations1.3 Currency symbol2 First ruble (antiquity – 31 December 1921)2.1 Coins2.1.1 Constantine ruble2.2 Banknotes2.2.1 Imperial issues2.2.2 Provisional Government issues3 Post-Soviet ruble (1993–1998)3.1 Coins3.2 Banknotes4 New ruble (1 January 1998–present)4.1 Coins4.2 Banknotes4.2.1 Commemorative banknotes4.2.2 Printing4.2.3 Controversy4.3 Exchange rates5 References6 External linksHistory[edit]Etymology[edit]Main article: RubleAccording to the most popular version, the word "ruble" is derived from the Russian verb руби́ть (rubit'), meaning "to chop".Names of different denominations[edit]In the 18th, 19th and 20th centuries, several coins had individual names:
¼ kopek – polushka
½ kopek – denga or dénezhka
2 kopek – semishnik (mostly disappeared by 20th century), dvúshka (20th century) or grosh
3 kopek – altyn (not in use anymore by the 1960s)
5 kopek – pyaták
10 kopek – grívennik
15 kopek – pyatialtýnny (5 altyn; the usage lived longer than altyn)
20 kopek – dvugrívenny (2 grivenniks)
25 kopek – polupoltínnik (half poltínnik) or chetverták (from the Russian for ¼)
50 kopek – poltína or poltínnik
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 three-ruble gold coin issued for general circulation in 1701. The current meaning comes from the Soviet golden chervonets (сове́тский золото́й черво́нец), issued in 1923. It was equivalent to the pre-revolution 10 gold rubles. All these names are no longer in use, however. The practice of using the old kopek coin names for amounts in rubles is not very common today. In modern Russian slang only these names are used:
1 ruble – tselkóvy (целко́вый), meaning "entire" or "whole" (це́лый)
5 rubles – pyatyórka (пятёрка), pyaták (пята́к), pyatachyók (пятачо́к)
10 rubles – chírik (чи́рик), chervónets (черво́нец) or desyátka (деся́тка)
50 rubles – poltínnik (полти́нник) with some variants like poltishók (полтишо́к), pyótr (Пётр) from picture of monument to the Peter I shown on a bill
100 rubles – stólnik (сто́льник), sótka (сотка)
500 rubles – pyatikhátka (пятиха́тка), originally pyatikátka (пятика́тка)
1,000 rubles – kosár (коса́рь), shtúka (шту́ка) or a hybrid shtukár (штукарь), tónna (то́нна), ruble (mostly in St. Petersburg)
1,000,000 rubles – limón (лимо́н), lyam (лям)
1,000,000,000 rubles – lyard (лярд).
The term for 500 rubles derives from "пять кать" (five Catherines). Katya (Катя, Catherina), having been a slang name for the 100 ruble note in tsarist Russia, was used as the note had a picture of Catherine II on it.
The largest denomination note, as of September 2009, is 5,000 rubles, so all the higher amount nicknames refer to amounts and not the coin or banknote.
Some of these definitions (chirik, poltos, pyatikatka, kosar) come from Russian jail slang (Fenya), and are considered vulgar in daily speech.[citation needed]
Currency symbol[edit]
Not to be confused with the Armenian letter ք or the Latin letter Ꝑ.
The "ruble" symbol used throughout the 17th century, composed of the Russian letters "Р" and "У".
A currency symbol was used for the ruble between the 16th century and the 18th century. The symbol consisted of the Russian letters "Р" (rotated 90° counter-clockwise) and "У" (written on top of it). The symbol was placed over the amount number it belonged to.[3] This symbol, however, fell into disuse during the 19th century and onward.[citation needed]
The eventual winning Ruble sign design
No official symbol was used during the final years of the Empire, nor was one introduced in the Soviet Union. The characters R[4][5] and руб. were used and remain in use today, though they are not official.[6]
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 РР (the initials of Российский Рубль "Russian ruble"), which has received preliminary approval from the Central Bank.[7] However, one more symbol, a Р with a horizontal stroke below the top similar to the Philippine peso sign, was proposed unofficially.[7] Proponents of the new sign claim that it is simple, recognizable and similar to other currency signs.[8][9][10] This symbol is also similar to the Armenian letter ք or the Latin letter Ꝑ.
On 11 December 2013, the official symbol for the ruble became RUB, a Cyrillic letter Er with a single added horizontal stroke,[11][12] though the abbreviation руб. is in wide use. In Unicode version 7.0 it was assigned the encoding U+20BD ₽ ruble sign (HTML ₽).[13][14]
On 4 February 2014, the Unicode Technical Committee during its 138th meeting in San Jose accepted U+20BD ₽ ruble sign symbol for the Unicode version 7.0;[15] the symbol was then included into Unicode 7.0 released on 16 June 2014.[16] In August 2014, Microsoft issued updates for all of its mainstream versions of Microsoft Windows that enabled support for the new ruble sign.[17]
First ruble (antiquity – 31 December 1921)[edit]
Five hundred rubles featuring Peter the Great and a personification of Mother Russia, 1912
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1898 Russian Empire one ruble bill, obverse
The ruble has been the Russian unit of currency for about 500 years. From 1710, the ruble was divided into 100 kopeks.
The amount of precious metal in a ruble varied over time. In a 1704 currency reform, Peter the Great 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 17 December 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).
The ruble was worth about .50 USD in 1914.[18][19]
With the outbreak of World War I, the gold standard peg was dropped and the ruble fell in value, suffering from hyperinflation in the early 1920s. With the founding of the Soviet Union in 1922, the Russian ruble was replaced by the Soviet ruble. The pre-revolutionary Chervonetz was temporarily brought back into circulation from 1922–1925.[20]
Coins[edit]
At the beginning of the 19th century, copper coins were issued for ¼, ½, 1, 2 and 5 kopeks, with silver 5, 10, 25 and 50 kopeks and 1 ruble and gold 5 although production of the 10 ruble coin ceased in 1806. Silver 20 kopeks were introduced in 1820, followed by copper 10 kopeks minted between 1830 and 1839, and copper 3 kopeks introduced in 1840. Between 1828 and 1845, platinum 3, 6 and 12 rubles were issued. In 1860, silver 15 kopeks were introduced, due to the use of this denomination (equal to 1 złoty) in Poland, whilst, in 1869, gold 3 rubles were introduced.[21] 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.
Constantine ruble[edit]
The Constantine ruble (Russian: константиновский рубль, konstantinovsky rubl′) is a rare silver coin of the Russian Empire bearing the profile of Constantine, the brother of emperors Alexander I and Nicholas I. Its manufacture was being prepared at the Saint Petersburg Mint during the brief Interregnum of 1825, but it was never minted in numbers, and never circulated in public. The fact of its existence became known in 1857 in foreign publications.[22]
Banknotes[edit]
For banknotes issued between 1918 and 1992 see: Soviet ruble
Imperial issues[edit]
25 Assignation rubles of 1769
1898 Russian Empire one ruble bill, reverse
In 1768, during the reign of Catherine the Great, the Assignation Bank was instituted to issue the government paper money. It opened in Saint Petersburg and in Moscow in 1769.
In 1769, Assignation rubles 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 Assignation rubles 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 t
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