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Russian Ruble

The ruble or rouble (Russian: ?????, rubl?, plural ??????, rubli; see note on English spelling) (sign: ?; code: RUB) is the currency of Russia and the two partially recognized republics of Abkhazia and South Ossetia. The ruble was the currency of the Russian Empire and of the Soviet Union before its dissolution. Belarus and Transnistria use currencies with the same name. The ruble is subdivided into 100 kopeks (sometimes written as kopecks or copecks; Russian: ????????, kopeyka; plural: ????????, 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).

One of Europe’s oldest currencies, the ruble has been in use since the 13th century. First made of silver, the currency derives its namesake from the Russian word ‘rubit’ which means to chop or hack, and originally was made from fragmented pieces of the Ukrainian hryvnia.

The ruble has been chopped, hacked, collapsed, and re-denominated several times throughout its nearly 800-year history. The most volatile years came along with regime change and revolution. After the 1917 Bolshevik revolution, the ruble lost one third of its value, and in the following years while the country was gripped by civil war, the ruble dropped from 31 against the dollar to nearly 1,400. The ruble hit its historic low of 2.4 million per USD after the civil war and the year the revolution’s leader Vladimir Lenin died. It was re-denominated to 2.22.

The ruble is subdivided into 100 kopeks (sometimes written as kopecks or copecks; Russian: ????????, kopeyka; plural: ????????, 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).

As a world dominate power, the Russian Ruble has collectible interest as a stable, and strong currency, making it a speculated that it's collectible value will likewise remain strong for years to come.