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Foreign Exchange Guide to Russia

Read this currency guide to Russia with money transfer and travel tips.   [USD/RUB=66.491]

Russia
Country Code:
RU
Domestic Currency:
Russian Ruble
Symbol - Code:
RUB
Telephone Prefix:
+7

This is a foreign exchange guide to Russia, the Russian Ruble currency plus RUB transfers and travel tips.

In this Russia currency guide we take a look at :

  1. Russian Ruble info - general info about the Russian Ruble
  2. Russian Ruble in the markets - recent RUB moves and predictions from the FX markets
  3. Travelling in Russia - currency & money saving tips
  4. Buying Russian Ruble cash online - travel money for Russia
  5. Sending money to Russia - save on Russian Ruble bank transfers to Russia
  6. Russian Ruble exchange rates - latest & historic exchange rates.

Russian Ruble (RUB) general currency information


What is the Russian Ruble currency code and symbol?

The three letter currency code for the Russian Ruble is RUB and the symbol is .


Which countries use the Russian Ruble?

It is the domestic currency in Russia.

Reputedly, the Russian ruble has been in existence in one form or another for nearly 800 years, and as such is one of the world’s oldest national currencies. A single ruble unit is subdivided into 100 kopeks.

Contributing to around 1% of all foreign exchange deals, the ruble is the world’s seventeenth most traded currency.

The value of the ruble is heavily influenced by commodities prices since Russia’s top exports include oil, natural gas and metals.

In recent years, the most significant event to affect the ruble’s valuation came in the second half of 2014 with the introduction of economic sanctions against Russia for its annexation of Crimea from Ukraine. These sanctions, together with a 50% drop in the oil price in the same period, led to a ruble collapse. The ruble lost nearly 60% of its value against the US dollar between July and mid-December 2014.

Since 2000, the ruble’s highest valuation against the dollar occurred in July 2008 when USD/RUB fell to just 23.05. Its lowest value came in January 2016 when USD/RUB reached 85.97.

The ruble is considered riskier to hold than the FX "majors,” which means that it is likely to fall in value against those currencies (especially JPY, USD, CHF, EUR and GBP) during periods of significant economic uncertainty or high market volatility, or when global geopolitical risk is elevated.


Russian Ruble (RUB) in the markets

At the end of October, the ruble was showing year-to-date losses of 12.5 percent and 6.5 percent against the dollar and euro respectively.

Although hardly optimistic for those holding Russian currency, the aforementioned losses mark considerable strength on mid-September rates, which preceded the surprise interest rate hike on September 14th by the Russian central bank (rates were lifted to 7.5 percent). Prior to the hike, the ruble had slipped to 2-1/2-year lows. In October, the central bank warned businesses of further tightening ahead, which would be good for the ruble.

Ruble weakness this year has been driven by central bank buying of foreign currencies for the purposes of bolstering Russia’s FX reserves – an act that necessitates selling large amounts of rubles, which weighs on valuations. Equally, US sanctions on Russia and the emerging market currency crises in Argentina and Turkey have played a part.

The interactive chart below shows the USD to RUB exchange rate for the previous 3 months with rate alerts for days when the exchange rate moved up or down significantly or for 30 day highs and lows.


USD-RUB 3 Month chart
Loading USD/RUB Chart
USDRUB currency converter

Travel, Currency and Money saving tips for Russia

 

Russian food is plentiful, home cooked, and delicious. Soups are very good. The bread is delicious. Food in the supermarkets is plentiful and reasonably priced. There is a wide variety of teas, chocolates, dairy products, produce, candies, and vodka. Carry plenty of cash.

What currency should I use in Russia?

They’ll take Visa or MasterCard in the big shops and stores, but virtually no one, except at the hotel, takes American Express. And be prepared to have to pay cash at the smaller restaurants. Moscow is one of the most expensive cities in the world and St Petersburg is not a cheap destination either; wallet-thinning shock is common at many restaurants and hotels.

ATM machines are very easy to find in Russian cities, so you can easily withdraw Russian Rubles from an ATM machine that usually provides the option to switch the language to English. Many businesses accept only cash and taxis do not take credit cards. If you plan to buy roubles in Russia, you should take US dollars or euros to exchange, and only change money at banks, hotels and airport exchange bureaux. It is an offence to change money from street traders.

Getting around in Russia?

Right across Russia, timetables for long-distance trains are written according to Moscow time. The only exceptions are those for suburban services that run on local time – but not always, so double-check. Station clocks in most places are also set to Moscow time. Note that Moscow and St Petersburg share the same time zone. The metro systems of Moscow and St Petersburg are excellent. There are smaller ones in Kazan, Nizhny Novgorod, Novosibirsk, Samara and Yekaterinburg.

Long-distance buses tend to complement rather than compete with the rail network. They generally serve areas with no railway or routes on which trains are slow, infrequent or overloaded. Within most cities, marshrutky double up on official bus routes but are more frequent. They will also stop between official bus stops, which can save quite a walk. Services are frequent in city centres but more erratic as you move out toward the edges. They can get jam-packed in the late afternoon or on poorly served routes.

Renting a car is a good option, however almost all signs are only in Russian. Allow lots of time at the airport, even for domestic flights. Security and check in are inefficient and the lines move slowly. Be sure to make time for flights, Russian airports do not seem as tolerant of lateness as most. Be sure your frequent flier numbers are in your reservation; the desk clerk you get may not have a clue on how to enter one, especially for a codeshare flight.

Travel tips for Russian.

Yes, chances are you need a very for Russia, and it can get compilcated so start the application process at least a month before your trip and consider using a specialist travel agency to arrange visas and make key transport bookings. This is an absolute must for everybody. You can do it at the last moment, but it may cost you a fortune. Every visitor to Russia should have their visa registered within seven days of arrival, excluding weekends and public holidays.

There are no standardized opening and closing times for museums, cathedrals and other attractions in Russia. Lenin’s mausoleum in Moscow’s Red Square, for example, is only open from 10am until 1pm and is closed on Mondays and Fridays.

Even if you don’t normally drink the stuff, if you’re in Russia you should definitely try some of the vodka – just call it cultural research. Vodka is served with meals, and it’s best to drink it as a shot, not sip it.

Russian power outlets take round 2-pin Euro plugs. A flat Euro plug adapter don't usually fit into the socket. Current is 220V.

 

Travel money for Russia

 

Save money and time by Ordering your Russian Ruble online from Travelex, you get better rates and can pick up the RUB cash locally or even on travel day at the airport.

Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

For card purchases if offered a choice of currencies always select to Pay in Russian Ruble otherwise you may get much worst exchange rates.

   

Russia Trip Checklist    

 
  1. Compare RUB travel cash rates - probably why you are here!
  2. Search Hotel deals - Save on your accomodation in Russia
  3. Lonely Planet - world's best travel guide (coupon and deals)

Sending money to Russia

When searching around for information on how to get a good exchange rate when sending money to Russia you need to start with finding out the latest Russian Ruble foreign-transfer exchange rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save (we make that calculation easy here).

Russia Property Buying Guide

There are no taxes when purchasing a property, but owners pay an annual property tax of 0.5% of the property value.

To get tax resident status, you will need to have lived in Russia for at least 183 days over the last 12 months.

If you sell your home within 5 years of purchase (or 3 years if purchased prior to 1 January 2016), there is a 13% tax on profits. Selling after 5 years there is no tax on profit.


Get a better deal for foreign transfers to Russia

When sending money to Russia it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or Russian Ruble amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted RUB amount will be transfered to the recipient account you specify in Russia.

Use our Send to RUB calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Russian Ruble deposited into the recipient bank account and less margins and fees kept by the banks!

   

Bank Transfers to Russia

Compare Transfer Rates

 

Popular RUB cross rates


RUB/USD - Russian Ruble to United States Dollar - 10 Year History

DateExchange RatePeriod
02 Dec 20180.01501 Week
09 Nov 20180.01471 Month
12 Jun 20180.01596 Months
09 Dec 20170.01691 Year
09 Dec 20160.01602 Years
10 Dec 20130.03065 Years
11 Dec 20080.035910 Years

RUB/EUR - Russian Ruble to Euro - 10 Year History

DateExchange RatePeriod
02 Dec 20180.01321 Week
09 Nov 20180.01301 Month
12 Jun 20180.01356 Months
09 Dec 20170.01441 Year
09 Dec 20160.01512 Years
10 Dec 20130.02225 Years
11 Dec 20080.027010 Years

RUB/GBP - Russian Ruble to British Pound Sterling - 10 Year History

DateExchange RatePeriod
02 Dec 20180.01181 Week
09 Nov 20180.01141 Month
12 Jun 20180.01196 Months
09 Dec 20170.01261 Year
09 Dec 20160.01272 Years
10 Dec 20130.01865 Years
11 Dec 20080.024010 Years

RUB/JPY - Russian Ruble to Japanese Yen - 10 Year History

DateExchange RatePeriod
02 Dec 20181.70471 Week
09 Nov 20181.67591 Month
12 Jun 20181.75226 Months
09 Dec 20171.91901 Year
09 Dec 20161.83562 Years
10 Dec 20133.14385 Years
11 Dec 20083.289610 Years

RUB/AUD - Russian Ruble to Australian Dollar - 10 Year History

DateExchange RatePeriod
02 Dec 20180.02031 Week
09 Nov 20180.02041 Month
12 Jun 20180.02096 Months
09 Dec 20170.02251 Year
09 Dec 20160.02142 Years
10 Dec 20130.03345 Years
11 Dec 20080.053510 Years

RUB/CAD - Russian Ruble to Canadian Dollar - 10 Year History

DateExchange RatePeriod
02 Dec 20180.01991 Week
09 Nov 20180.01951 Month
12 Jun 20180.02066 Months
09 Dec 20170.02171 Year
09 Dec 20160.02102 Years
10 Dec 20130.03245 Years
11 Dec 20080.044310 Years

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