Ruble Explained

Ruble should not be confused with Rubble.

The ruble or rouble (; Russian: рубль|p=rublʲ) is a currency unit. Currently, currencies named ruble in circulation include the Russian ruble (RUB, ₽) in Russia and the Belarusian ruble (BYN, Rbl) in Belarus. These currencies are subdivided into one hundred kopeks. No kopek is currently formally subdivided, although denga (½ kopek) and polushka (½ denga, thus ¼ kopek) were minted until the 19th century. Additionally, the Transnistrian ruble is used in Transnistria, an unrecognized breakaway province of Moldova.

Historically, the grivna, ruble and denga were used in Russia as measurements of weight. In 1704, as a result of monetary reforms by Peter the Great, the imperial ruble of the Russian Empire became the first decimal currency. The silver ruble was used until 1897 and the gold ruble was used until 1917. The Soviet ruble officially replaced the imperial ruble in 1922 and continued to be used until 1993, when it was formally replaced with the Russian ruble in the Russian Federation and by other currencies in other post-Soviet states. In the past, several other countries influenced by the Russian Empire and the Soviet Union had currency units that were also named ruble, including the Latvian ruble, Tajikistani ruble and Transcaucasian ruble (later Armenian ruble, Azerbaijani ruble, Georgian ruble).

Countries and territories currently using currency units named "ruble"

CurrencyCurrent usersISO 4217 code
Russian ruble Russian Federation (1992–present)
(2008–present)
(2008–present)
RUB (1998–present)[1]
RUR (1992–1997)
Belarusian ruble Belarus (1994–present)BYN (2016–present)[2]
BYR (2000–2016)[3]
BYB (1994–2000)
Transnistrian ruble (1994–present)-

Countries and territories historically using currency units named "ruble"

CurrencyHistorical usersISO 4217
code
ReplacedReplaced by
Russian rublePrincipality of Moscow (1300–1547)
(1547–1721)
(1721–1917)
(1917–1922)
(1992–1993)[4]
(1992–1993)[5]
Turkmenistan (1992–1993)[6]
(1992–1994)[7]
(1992–1994)
Belarus (1992–1994)[8]
Georgia (1992–1994)[9]
(1992–1994)[10]
(1992–1994)[11]
(1992–1995)[12]
RURGrivna,
Denga,
Soviet ruble
Soviet ruble
(1922–1992)
Transcaucasian ruble
(Armenian ruble,
Azerbaijani ruble,
Georgian ruble)
Transcaucasian DFR (1918)
(1918–1920)
(1918–1920)
(1918–1921)
(1922–1924)
-Russian rubleSoviet ruble
Soviet ruble (1922–1992)SURRussian rubleRussian ruble,[13] [14]
Estonian kroon,[15]
Latvian ruble,[16]
Lithuanian talonas,
Ukrainian karbovanets
Latvian ruble Latvia (1992–1993)LVRSoviet rubleLatvian lats
Tajikistani ruble Tajikistan (1995–2000)TJRRussian rubleTajikistani somoni[17]

See also

External links

Notes and References

  1. Web site: ISO4217 AMENDMENT NUMBER 97 - 1997-12-19 .
  2. Web site: ISO4217 AMENDMENT NUMBER 161 - 2015-12-18 .
  3. Web site: ISO4217 AMENDMENT NUMBER 106 - 1999-12-10 .
  4. Web site: ISO4217 AMENDMENT NUMBER 61 - 1993-07-27 .
  5. Web site: ISO4217 AMENDMENT NUMBER 69 - 1993-12-03 .
  6. Web site: ISO4217 AMENDMENT NUMBER 64 - 1993-09-21 .
  7. Web site: ISO4217 AMENDMENT NUMBER 78 - 1994-10-04 .
  8. Web site: ISO4217 AMENDMENT NUMBER 77 - 1994-07-20 .
  9. Web site: ISO4217 AMENDMENT NUMBER 71 - 1994-04-14 .
  10. Web site: ISO4217 AMENDMENT NUMBER 72 - 1994-05-17 .
  11. Web site: ISO4217 AMENDMENT NUMBER 76 - 1994-07-12 .
  12. Web site: ISO4217 AMENDMENT NUMBER 84 - 1995-07-12 .
  13. Web site: ISO4217 AMENDMENT NUMBER 54 - 1993-03-08 .
  14. http://www.imf.org/external/pubs/ft/wp/2001/wp01101.pdf John Odling-Smee, Gonzalo Pastor. The IMF and the Ruble Area, 1991—1993 // IMF Working Paper, 2001
  15. Web site: ISO4217 AMENDMENT NUMBER 46 - 1992-07-23 .
  16. Web site: ISO4217 AMENDMENT NUMBER 48 - 1992-10-29 .
  17. Web site: ISO4217 AMENDMENT NUMBER 110 - 2000-11-02 .