The Russian ruble is the official currency of the Russian Federation. Today, in everyday life there are two equivalents of the Russian ruble - coins and paper bills. There are coins in denominations of 1, 5, 10, 50 kopecks, 1 ruble, 2 rubles, 5 rubles, 10 rubles, 25 rubles, as well as paper notes in denominations of 10, 50, 100, 500, 1000 and 5000 rubles.
Russian ruble in the international financial arena
According to Bloomberg, the Russian ruble is one of the most popular currencies. Its share in world trade is 0.4%. The Russian ruble is included in the TOP popular currencies compiled by Bloomberg. The monetary unit of the Russian Federation occupies the 18th position.
What currency to take to Russia?
Before traveling to Russia or Crimea, citizens of Ukraine, Belarus, Kazakhstan, Kyrgyzstan, Armenia, Uzbekistan, Tajikistan, Moldova can purchase the Russian ruble at local banks. The import of currency into the territory of the Russian Federation has no restrictions. Only an amount exceeding the equivalent of $ 10,000 is subject to declaration.
Currency exchange in Russia
You can exchange dollars, euros, hryvnias and any other foreign currency for Russian rubles at airports, hotels, exchange offices in large shopping and entertainment centers, street “exchange offices” and leading banks in Russia.
The standard working hours for Russian banks are from 9 am to 6 pm. From 12.00 to 13.00 - break. All exchange transactions are carried out by the cashier. The exchange of dollars, euros, hryvnias, Belarusian rubles for the Russian ruble takes place without "hidden fees" and additional commissions.
The Russian ruble exchange rate is floating. However, the Bank of Russia has a clear benchmark - the currency corridor to the bi-currency basket. This is how the “dirty” float is realized: as soon as the indicators of the Russian ruble reach the corridor boundaries, the Central Bank conducts a foreign exchange intervention.
By 2015, the Central Bank of the Russian Federation plans to transfer the Russian ruble to a free float mode. This is one of the main decisions of the monetary policy for 2014-2016.
Credit cards
Money in Russia can be withdrawn from a credit card. All you need is to use the nearest ATM. Please note that when withdrawing cash from your card, a commission is charged in the amount of 2.5% to 4% of the withdrawal amount, in accordance with the requirements of a particular bank.
Banks labeled ATM serve international payment systems.
