Russia is an immense and powerful country. Although no longer a super power politically, it still is a super power in terms of its energy. It exports natural gas, oil, metals and timbers. Its current machinations on the world stage also indicate it is note ready to give up any thought of being one of the strongest political entities in the world. The currency consists of the ruble. It consists of 100 kopeks. It trades under the initials RUB.
History
The first coinage entering Russia comes from the Greek colonies on the Black Sea. During the 5th and 4th centuries B.C., silver, bronze and gold coins were prominent particularly at Olbia (Parutino). One remarkable coin featured the head of Pan on the converse and a griffin on the reverse. Various cities also produced their coins as did several rulers including Seleucid pieces and imitations of Bactrian Greek coins.
Russia was not included in the Roman Empire, but in the Bosporus, the influence of this currency is obvious. These Bosporan coins continued until the 4th century A.D. From the 1st to the 4th century A.D., there were also Kusha designed coins circulating as well as Sasanian and Parthian money. Kievan coinage emerged under the rulers of Kiev. There were Islamic silver dirhems circulating as far as Kiev and into the Baltic region. The Volga Bulgars copied these dirhems in the 10th century. The Kievan rulers issued their own coinage copying Byzantine standards. After the 11th century, the influx of Islamic coins ceased. Western coins began to replace them.
Between the 12th century and the 14th centuries, however, money was drastically reduced in form and style. It consisted of silver ingots, clippings, pieces of coin and broken jewelry. Small change was given in cowrie shells and furs. The ingot became known as “grivnas.” They provided the basic standard for currency throughout Russia. In the mid-13th century, the Mongols invaded. They are probably responsible for producing the “boat-shaped” ingots circulating in the Lower and Middle Volga regions.
The invading Khans of the golden Horde on the late 14th and early 15th century used silver dirhems in the west and south. Livonia had western-style coinage. There were also local issues from the hands of the Bishop of Dorpat, the Archbishop of Riga and the Livonian Order a military group. These were versions of Swedish currency. It was not until the 14th century that the ruble began to replace the grivna. Within the various municipalities, currency began to circulate on a regular basis. Some regions and cities issued dengi with, at first, Mongol inscriptions. Later Russian inscriptions replaced these and the coins, in appearance, became more Russian.
By the end of the 15th century and the beginning of the 16th, Ivan III (1462-1505) had declared himself Monarch of All Russia. His currency usually featured the Prince on horseback. Under the early Tsars in the 16th century, the coinage became a unified currency. By 1534, there were kopeks as well as dengi and polushka. A prominent design of this period was a horseman with a spear.
German talers arrived in the late 17th century. During this period, Tsar Alexei Mikhailovich restruck talers as silver rubles. Copper kopeks also emerged. They played a role in the copper riot of 1662 in Moscow. In 1705, a new issue of coins came into circulation. One hundred kopels equalled 1 ruble in this decimal system. The coins featured on the reverse a double-headed eagle. The obverse had the tsar’s portrait. This format remained unchanged except for size and alloy for much of the period of the tsars.
Parts of Russia did not have the ruble or the
tsars. These regions had Islamic coins. They followed the usual basic
changes under the Umayyad Caliphs, Abbasids, and the successors. There
were coins in the Sasanian style as well as a few Mongolese types of
money. The Golden Horde coins featured Ilkhanid designs. The coins
under Timur had decorative designs providing inspiration for their
successors. The last Islamic issues date from 1920.
Georgia was
also a different situation. It had been a Christian enclave. The native
princes issued their own coins. In the 1230s, most of the country fell
to the Mongols. In the late 13th century, coinage emerged from the
Baghatrid-Mongol group. It came under Persian and Mongol control and,
briefly, under the Ottoman Empire (1723-1735).
After
WWI, the picture changed for the Russian Empire. The Bolshevik
Revolution of 1917 produced substantial amounts of paper currency over
coinage. The rise of the Russian Soviet Federated Soviet Republic saw
the implementation of rubles and kopeks as the currency. The hammer and
sickle is featured on the obverse. Although Latvia, Lithuania and
Estonia kept their own coinage between 1919 to 1939. This changed after
WWII. Russia became the USSR.
Monetary reform occurred during 1947.
Since then the currency has remained unchanged except for appearance
and weight. In 1998, the breaking up of the USSR, left Russia with a
financial crisis in spite of the redenomination in 1998. Since then,
there have been cosmetic changes and monetary adjustments. Today, the
currency consists of coins in the sums of 1, 5, 10 and 50 kopeks and 1,
2, and 5 rubles. Banknotes come in denominations of 5, 10, 50, 100,
500, 1,000 and 5,000 rubles.
Obtaining Russian Rubles
It is always possible to obtain the local currency from banks and exchange offices. There are also ATMs in banks, and hotels in the big cities. Do not attempt to use any other legal means.
Protecting Your Currency
Violent crime, especially against foreigners, is on the increase in this country. Even children get in on the act as pickpockets and robbers. Do not walk alone in underground walkways, subways, tourist areas, train stations, hotel rooms and airports. Take the usual precautions. Do not flash your cash or show signs of affluence
Using Your Russian Rubles
Russians prefer cash. It is illegal to use most other forms of currency. You will need your kopeks and rubles to buy or pay for almost everything. Use your money for restaurant bills, buying food and sundries and for shopping. You can purchase many of the goods for which Russia is famous. If you have enough, buy a Fabergé egg. There are also the Matryoska dolls – those small wooden figures concealing several others within. Wooden carvings and pottery figurines called Dymkovskaya based on popular characters from Russian folklore are other appropriate gifts. Youcan consider lacquered boxes and wooden cups, saucers abd spoons as ewll as Vologda lace and Gzhel porcelain.
Travel Tips and Warnings
- The usual precautions apply to each country within the union.
- The presence of skinheads in increasing numbers makes it more difficult for those of African and Asian ancestry. Exercise extreme caution in places where they may frequent.
- If you plan to go to Siberia and Eastern Russia, you will require permission from the authorities.
- Some traffic police stopped motorists and demand cash "fines" immediately.
- Avoid driving after dark.
- Exert the usual vigilance on all forms of public transport.
- Do not drive alone after dark.
- Be vigilant on public transportation especially on trains.
- Take note. There has been an increase in ATM and credit card and ATM card fraud.
- Do not go near borders between Russia and Georgia or Chechnya.
- Visit Moscow and see the Kremlin, Red Square, Lenin’s tomb, the Tsar’s Summer Palace, the State Tretyakov Gallery and the Puskin Museum of Fine Arts.
- Head to St. Petersburg to visit the Hermitage, the Winter Palace, the Fortress of Peter and Paul,Peter and Paul Cathedral and the Alexander Neveskiy monastery.
- Tour the Golden Ring with its string of towns and palaces.
- Go to Peterhof with the Grand Palace, the Upper and Lower Gardens and he 64 fountains of the Grand Cascade.
- Go to Catherine’s Palace.
Overview
Russia
is not so much a country as a legend, an entity where history has
swirled to create a country several times anew. It is currently
undergoing another metamorphosis.
For factual information and data, go to www.waytorussia.net.
Currency Summary
Current currency: rubles
100 kopeks equal 1 ruble
Coins: 1, 5, 10 and 50 kopeks; 1, 2, and 5 rubles
Banknotes: 5, 10, 50, 100, 500, 1,000 and 5,000 rubles