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A new set of coins was issued in 1992 and a new set of banknotes was issued in the name of Bank of Russia in 1993. The currency replaced the Soviet ruble at par and was assigned the ISO 4217 code RUR and number 810. Apart from Russia, the Russian ruble was used in eleven post-Soviet states, forming a "ruble zone" between 1992 and 1993.
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.
Under Russian law, half of the bank's profit must be channeled into the government's federal budget. The Central Bank of Russia is a member of the BIS. [28] The Bank of Russia owns a 57.58% stake in Sberbank, the country's leading commercial bank.
In 2013, the World Bank announced that Russia had graduated to a high-income economy based on the results of 2012 [127] [128] [129] but in 2016 it was reclassified as an upper-middle income economy [130] [131] due to changes in the exchange rate of the Russian ruble, which is a floating currency.
Russia, [b] or the Russian Federation, [c] is a country spanning Eastern Europe and North Asia. It is the largest country in the world by land area, and extends across eleven time zones; sharing land borders with fourteen countries. [d] Russia is the most populous country in Europe and the ninth-most populous country in the world.
It is usually the smallest denomination within a currency system; 100 kopeks are worth 1 ruble or 1 hryvnia. Originally, the kopeck was the currency unit of Imperial Russia, the Russian Soviet Federative Socialist Republic and then the Soviet Union (as the Soviet ruble). As of 2020, it is the currency unit of Russia, Belarus and Ukraine.
The ruble sign, ₽, is the currency sign used for the Russian ruble, the official currency of Russia.Its form is a Cyrillic letter Р with an additional horizontal stroke. [a] The design was approved on 11 December 2013 after a public poll that took place a month earlier.
200 rubles 2017 (obverse) 2000 rubles 2017 (obverse) In 2017, new banknotes were introduced with new denominations of 200 rubles and 2000 rubles, [2] which depict the cities of Sevastopol (internationally recognized as Ukrainian while occupied by Russia since 2014) and Vladivostok — the cities of the Southern and Far Eastern Federal Districts of the Russian Federation, respectively.