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The current meaning comes from Soviet golden chervonets issued in that was equivalent to the pre-revolution 10 gold rubles. All these names are obsolete. The practice of using the old kopek coin names for amounts in rubles is now not very common. In modern Russian slang only these names are used:. Peterbourg , rubles -Pol-limona a half of limon 1,, rubles -Limon 1,,, rubles -Yard The sixth term derived from five Catherines.
Katya Catherina having been a slang name for the ruble note in tsarist Russia, as the note had a picture of Catherine II on it. The biggest denomination note as for September, is rubles, so all the higher amount nicknames refer to amount and not coin or paper note.
Most of these definitions, i. Chirik, Poltos, Pyatikatka, and Kosar come from jail slang Fenya. It is a quite vulgar manner of speaking.
Currency symbol A currency symbol was used for the ruble between the 16th century and the 18th century. The symbol was placed over the amount number to which belonged to. This symbol, however, fell into disuse during the 19th century onward.
No official symbol was used during the final years of the Empire, nor was one introduced in the Soviet Union. The characters R and py6 were utilized and remain so today, though they are not official. In July , the Central Bank of Russia announced that it would decide on a symbol for the ruble. The bank will test 13 symbols for the ruble.
However, the people of Moscow have announced support for another tested symbol, a P with a horizontal stroke below the top similar to the Philippine peso sign.
The sign has been lauded as simple, recognizable and similar to other currency signs. Another candidate for a ruble symbol was selected in a competition organized by the Russian News and Information Agency.
The "Swanling" symbol was one of 20 winners of the competition and was also one of 8 winners of a competition organized by the website KM. The symbol has no similarity to any other currency symbol. History First ruble, Antiquity December The ruble has been the Russian unit of currency for about years. From , the ruble was divided into kopeks. The amount of precious metal in a ruble varied over time.
In a currency reform, Peter I standardized the ruble to 28 grams of silver. While ruble coins were silver, there were higher denominations minted of gold and platinum.
By the end of the 18th century, the ruble was set to 4 zolotnik 21 dolya almost exactly equal to 18 grams of pure silver or 27 dolya almost exactly equal to 1. On 17 December , a new standard was adopted which did not change the silver ruble but reduced the gold content to 1.
With the outbreak of the First World War, the gold standard peg was dropped and the ruble fell in value, suffering from hyperinflation in the early s.
Second ruble, 1 January December In , the first of several redenominations took place, at a rate of 1 "new" ruble for 10, "old" rubles. The chervonetss was also introduced in Third ruble, 1 January -6 March A second redenomination took place in , at a rate of to 1. Again, only paper money was issued. During the lifetime of this currency, the first money of the Soviet Union was issued.
Fourth Gold ruble, 7 March A third redenomination in introduced the "gold" ruble at a value of 50, rubles of the previous issue. This reform also saw the ruble linked to the chervonets, at a value of 10 rubles. Coins began to be issued again in , whilst paper money was issued in rubles for values below 10 rubles and in chervonets for higher denominations. Fifth ruble, Following World War II, the Soviet government implemented a confiscatory redenomination of the currency to reduce the amount of money in circulation.
This only affected the paper money. Old rubles were revalued at one tenth of their face value. Sixth ruble, December The redenomination was a repeat of the reform, with the same terms applying. The Soviet ruble of was formally equal to 0. Following the breakup of the Soviet Union in , the ruble remained the currency of the Russian Federation. A new set of banknotes was issued in the name of Bank of Russia in During the period of hyperinflation of the early s, the ruble was significantly devalued.
Seventh ruble, 1 January - The ruble was redenominated on 1 January , with one new ruble equalling old rubles. The redenomination was a purely psychological step that did not solve the fundamental economic problems faced by the Russian economy at the time, and the currency was devalued in August following the Russian financial crisis.
Dollar in the six months following this Russian financial crisis. By calculating the product of all six redenominations, it is seen that a seventh ruble is equal to 5X original rubles. In November , the authorities of Dimitrovgrad Ulyanovsk Oblast erected a five-meter monument to the ruble.
Silver 20 kopeks were introduced in , followed by copper 10 kopeks minted between and , and copper 3 kopeks introduced in Between and , platinum 3, 6 and 12 rubles were issued. In , silver 15 kopecs were introduced, due to the use of this denomination equal to 1 zloty in Poland, whilst, in , gold 3 rubles were introduced.
In , a new gold coinage was introduced consisting of 5 and 10 ruble coins. This was followed by another in The gold coinage was suspended in , with the other denominations produced until the First World War. Fourth, fifth and sixth rubles The first coinage after Russian civil war was minted in with silver coins in denominations of 10, 15, 20 and 50 kopeks and 1 ruble.
Golden chervonets were minted in In , copper coins were introduced for 1, 2, 3 and 5 kopeks, together with further silver 10, 15 and 20 kopeks, 1 poltinnik 50 kopeks and 1 ruble. From this issue onwards, the coins were minted in the name of the Soviet Union. In , aluminium-bronze replaced copper in the 1, 2, 3 and 5 kopeks and, in , the remaining silver coins were replaced with cupro-nickel. This coinage was unaffected by the redenominations of and However, did see the introduction of new coins, with 1, 2, 3 and 5 kopeks in aluminium-bronze, and 10, 15, 20 and 50 kopeks and 1 ruble in cupro-nickel-zinc.
In , a new coinage was introduced in denominations of 10 and 50 kopeks, 1, 5 and 10 rubles. The 10 kopeks was struck in brass-plated steel, the 50 kopeks, 1 and 5 rubles were in cupro-nickel and the 10 rubles was bimetallic with an aluminium-bronze centre and a cupro-nickel-zinc ring.
After the end of the Soviet Union, the Russian Federation introduced coins in in denominations of 1, 5, 10, 20, 50 and rubles. The 1 and 5 rubles were minted in brass-clad steel, the 10 and 20 rubles in cupro-nickel and the 50 and rubles were bimetallic aluminium-bronze and cupro-nickel-zinc.
In , aluminium-bronze 50 rubles and cupro-nickel-zinc rubles were issued, and the material of 10 and 20 rubles was changed to nickel-plated steel. In the material of 50 rubles was changed to brass-plated steel, but the coins were minted with the old date Regularly issued commemorative one ruble coin during this period is practically identical in size and weight to a 5 Swiss franc coin worth approx.
For this reason, there have been several instances of now worthless ruble coins being used on a large scale to defraud automated vending machines in Switzerland. Seventh ruble 1 and 5 kopek coins are rarely used especially the 1 kopek coin due to their small value and in some cases may not be accepted by stores or individuals.
The first two letters of the code are the two letters of ISO alpha-2 country codes which are also used as the basis for national top-level domains on the Internet.
The third letter is usually the initial of the currency itself. This eliminates the problem caused by the names dollar , franc and pound being used in dozens of different countries, each having significantly differing values. Also, if a currency is revalued, the currency code's last letter is changed to distinguish it from the old currency. In some cases, the third letter is the initial for "new" in that country's language, to distinguish it from an older currency that was revalued; the code sometimes outlasts the usage of the term "new" itself for example, the code for the Mexican peso is MXN.
Other changes can be seen, however; the Russian ruble , for example, changed from RUR to RUB , where the B comes from the third letter in the word "ruble". There is also a three-digit code number assigned to each currency, in the same manner as there is also a three-digit code number assigned to each country as part of ISO This numeric code is usually the same as the ISO numeric code.
The standard also defines the relationship between the major currency unit and any minor currency unit. Some currencies do not have any minor currency unit at all. In others, the major currency unit has so little value that the minor unit is no longer generally used e. This is indicated in the standard by the currency exponent. ISO includes codes not only for currencies, but also for precious metals gold , silver , palladium and platinum ; by definition expressed per one troy ounce , as compared to "1 USD" and certain other entities used in international finance, e.
These codes all begin with the letter "X". The precious metals use "X" plus the metal's chemical symbol ; silver, for example, is XAG. Consequently, ISO can use "X" codes for non-country-specific currencies without risk of clashing with future country codes. In , the ISO Technical Committee 68 decided to develop codes for the representation of currencies and funds for use in any application of trade, commerce or banking.
Over time, new currencies are created and old currencies are discontinued. Frequently, these changes are due to new governments through war or a new constitution , treaties between countries standardizing on a currency, or revaluation of the currency due to excessive inflation. As a result, the list of codes must be updated from time to time. The US dollar actually has three codes assigned: A number of territories are not included in ISO , because their currencies are: The following non-ISO codes are, however, sometimes used commercially: A number of currencies were official ISO currency codes and currency names until their replacement by the euro or other currencies.
United Arab Emirates dirham. Bosnia and Herzegovina convertible mark. Bermudian dollar customarily known as Bermuda dollar.