Russian ruble, currency of the Russian Federation. Monetary system of the Russian Federation Ruble or Russian

Russian ruble

Russian ruble– the official monetary unit of the Russian Federation. Bank code - RUB (before denomination in 1998 - RUR). Banknote denominations: 5,000, 1,000, 500, 50 and 10 rubles. Coins: 10, 5, 2 and 1 ruble, 50, 10, 5 kopecks and 1 kopeck, which has now been withdrawn from circulation. The name of the monetary unit comes from the word “to chop”, the original word is “stump” (part of the ancient monetary unit of the hryvnia). There is another version, according to which “ruble” comes from “rub” (in Slavic languages ​​it means “edge”, “scar” or “border”), which is associated with the technology of making ancient coins - the first rubles were silver ingots processed according to edges.

Illustration: Website Numismat.ru

Modern Russian banknotes depict architectural monuments of different cities of the country: on the front side of the 5 thousand banknote there is a monument to Muravyov-Amursky in Khabarovsk, on the back there is a bridge over the Amur; 1 thousand rubles – a monument to Yaroslav the Wise in Yaroslavl and the Church of John the Baptist, respectively; 500 rubles – monument to Peter I in Arkhangelsk and Solovetsky Monastery; 100 rubles – quadriga of Apollo and the Bolshoi Theater in Moscow; 50 rubles – statue of the Neva and the Spit of Vasilyevsky Island; 10 rubles - Paraskeva Pyatnitsa Chapel and Krasnoyarsk Hydroelectric Power Station. The front side of the coins shows the denomination in a floral design, the reverse side contains the coat of arms of the Russian Federation, the inscription “ ” and the year of issue.

The history of the Russian ruble can be divided into three stages: Soviet and Russian.

The first issue of new Russian money was carried out in 1992 under conditions of hyperinflation. The exchange rate was 125 rubles per dollar. There was a rejection of kopecks, and the smallest monetary unit became 1 ruble, and in 1993 - 10 rubles; coins were not minted at all. By the end of 1992, the exchange rate exceeded 400 rubles per dollar. On October 11, 1994, the so-called “Black Tuesday” occurred when the ruble fell to 3,926 per dollar.

By 1995, the smallest banknote was 1 thousand rubles. In 1998, it was carried out at a rate of 1,000 to 1 and appeared with which we are dealing today. After denomination, the exchange rate was 5-6 rubles per dollar.

By the end of 1998, as a result of default, the exchange rate dropped to 20 rubles per dollar (at the same time, due to devaluation, industry grew by more than 40 percent).

Illustration: Website Numismat.ru

The second time devaluation was carried out under the control of the Bank of Russia at the end of 2008 as a result of the international financial crisis. Then the rate was lowered by more than 30%, the historical maximum was 36.45 rubles per dollar. But in the spring it returned to previous levels. As of September 2011, the exchange rate fluctuates between 29-32 rubles per dollar.

In relation to other currencies, the ruble is still not freely convertible, but there are already plans to “liberate” it, and a gradual liberalization of currency legislation is being carried out.

The main factors influencing the modern ruble are world prices for energy resources, such as oil, natural gas, as well as other raw materials, including non-ferrous metals. At the same time, Russia, unlike many European countries and the United States, does not have a large external debt. Thus, given good international conditions, investments in Russian currency can be attractive. Moreover, according to purchasing power parity, calculated, for example, using the Big Mac index, there is a prospect of a strengthening of the Russian ruble.

See what "Russian ruble" is in other dictionaries:

Russian ruble- (Russian Ruble, RUR) Currency Russian ruble, history of the emergence and development of the Russian ruble Currency Russian ruble, history of the emergence and development of the Russian ruble, place of currency in the world economy Contents Contents 1. Russian 1.1… … Investor Encyclopedia

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USSR ruble- Ruble (Russian) Rouble (English) Rouble (French) ... Wikipedia

Russian ruble

Russian ruble- Ruble 5000 rubles 2006 1 ruble 1997 ... Wikipedia

Russian ruble is the official monetary unit in the Russian Federation. Also, the national currency of the Russian Federation is used in Abkhazia and South Ossetia.

On the territory of the Russian Federation, rubles began to circulate after the country gained independence. This happened on July 26, 1993, along with the money reform. And before that, there were Soviet-style rubles, issued in 61, 91 and 92 of the twentieth century. Later, the money was withdrawn from circulation. I sewed cash tickets as a replacement. 1 Russian ruble was a coin that was used since 92 of the twentieth century.

Banknotes used in circulation

In 1995, banknotes previously issued since 93 of the last century were replaced with updated, modified banknotes that had better security functions. In 98, a redenomination took place, after which new money was issued. The smallest change banknote was a five-ruble note, and the largest was a five-hundred ruble note. At the beginning of the new century and later, after five years, money appears in 1000 Russian rubles and 5000, respectively.

Today, money in 5 and 10 rubles is no longer issued, but continues to be in circulation.

Before the start of the first Winter Olympic Games in the Russian Federation in the Krasnodar Territory, in 2013, a commemorative cash ticket of 100 rubles was issued.

What do Russian rubles represent?

Each banknote is related to a specific city of the Russian Federation:

• The minimum five-ruble bill, Novgorod shows. On the front side there is a monument to the “Millennium of Russia”, and on the back side there is a fortress wall of the Novgorod Detinets. The five-ruble bill has a dark green tint.
• The 10 Russian ruble banknote is related to Krasnoyarsk and is made in olive color. The front side depicts a bridge over the Yenisei River. The reverse side is decorated with the Krasnoyarsk hydroelectric station.
• The fifty-ruble denomination is blue and is the face of St. Petersburg. The front side is decorated with a sculpture at the base of the column, as well as the Peter and Paul Fortress. On the back there is a picture of the exchange house.
• A red-brown paper bill with a face value of 100 Russian rubles, marks the capital of the Russian Federation, Moscow. The front side depicts the square of the Bolshoi Theater. On the back is the facade of the most famous theater.
• A five hundred ruble banknote of a purple hue from Arkhangelsk, on the front side of which you can see a monument to Peter I, as well as a ship in the port. The Solovetsky Monastery is depicted on the reverse side.
• The blue-green denomination of 1000 rubles refers to Yaroslavl. On its front side you can see the monument to the Wise Yaroslav, as well as the Kazan Mother of God chapel. On the back is the Church of St. John the Baptist.
• And finally, on the largest banknote of 5,000 Russian rubles, red-brown in color, on the front side you can see the monument to Muravyov-Amursky. And on the back you can see a bridge over the great river called Amur.

Along with banknotes, in the monetary circulation of Russia, starting from 1992, there were also coins with a nominal value of 1 to 100 rubles. However, later, after the completion of the money reform in 1998, coins ceased to be a means of payment. They were replaced by completely new coins, first from 2002 and then from 2006. An eagle with two heads adorns ruble coins. In turn, on penny coins St. George the Victorious is depicted.

Until 2014, the production of 1 and 5 kopeck coins was stopped, but then resumed again, as the Crimea peninsula joined the Russian Federation.

History of the Russian ruble as the official currency of the Russian Federation

On the current territory of Russia, the ruble has been used as a means of payment since the thirteenth century. There was an opinion that the expression “ruble” came from another verb “to chop.” However, today it has been proven that for some reason the ruble owes its name to the ancient technology of coin production. At first, the ruble was in the form of a coin with a certain proportion of precious metal. But in 1769, the first paper money appeared.

And how freely the Russian ruble currency has felt in history can be judged by the reforms carried out by the Russian government. So, before the collapse of the great power, the Bank of the USSR issued rubles, which are coins, for the last time. And just one year later, the Bank of Russia introduced a new type of ruble into use, both in the form of coins and bank notes. At that time, the smallest coin was 1 ruble. However, the growth that occurred in 1993 provoked an increase in the denomination to 10 rubles. And in 1995, the smallest banknote became a 1000 ruble banknote. The permanent rise in inflation, which began in 1992, inevitably ended, which brought back the old kopecks and created a new Russian ruble.

Fight against counterfeit banknotes

To combat counterfeits, the Ministry of Internal Affairs of the Russian Federation has developed new methods of combating, which consist in conducting certain types of examination. Thus, analysts proposed adding the latest research to the existing list of examinations, thanks to which the internal structure of counterfeit banknotes will become clear. Research in the field of printing will help clarify some of the features of printing equipment. Analysis in the field of materials science will shed light on the light transmittance of the paper, the fastening of the ink, the number of double folds, and so on. A physical and chemical analysis will allow us to study the elemental component of paint and paper.

Similar ideas from the Ministry of Internal Affairs will become an impetus for the development of new devices and instruments with which it will be possible to test money.

Forecast of the Russian ruble and what is happening now on the interbank currency exchange

The events that have been taking place in Ukraine for more than a year could not affect relations between the Russian Federation and the United States. And then there’s the fall in oil prices. And as a result, by the end of 2014 there was a drop. For one dollar, on the interbank currency exchange they give 65 rubles. What will be the forecast for the Russian ruble?

According to many political scientists and economists, the forecast for the Russian ruble for 2015 will be generally positive. This means that the situation will stabilize sooner or later. Experts believe that it is very important to adhere to the course outlined by Russian President V.V. Putin, namely, to reduce pressure on medium and large businesses. It is then that businessmen will begin to part with foreign currency reserves. will reduce the cost to 50 rubles per. However, do not forget about.

The modern monetary system of Russia, like most other countries, is based on money that is not redeemable for gold. The main provisions of the monetary system of the Russian Federation are defined in the Federal Law of July 10, 2002 No. 86-FZ “On the Central Bank of the Russian Federation (Bank of Russia)” (as amended on January 10, 2003).

Name of the monetary unit. According to this Law, the official monetary unit (national currency) of the Russian Federation is the ruble, which is equal to 100 kopecks. In Russia, in the period from 1922 to 1947, there were two names of the monetary unit: “ruble” and “chervonets”. After . and to this day, Russia has retained a single name for the monetary unit - “ruble”, which was enshrined in the Law “On the Monetary System of the Russian Federation” adopted by the country’s parliament and in the subsequent Law “On the Central Bank of the Russian Federation”.

The law prohibits the issuance of other monetary units and monetary surrogates, and emphasizes the responsibility of persons who violate the unity of monetary circulation. The official ratio between the ruble and gold or other valuable metals is not established. The exclusive right to issue cash, organize circulation and withdraw it from circulation on the territory of the Russian Federation belongs to the Central Bank of the Russian Federation.

The types of money that have legal tender force are bank notes () and metal coins, samples of which are approved by the Bank of Russia. Banknotes and metal coins are unconditional obligations of the Central Bank and are backed by its assets. They are required to be accepted at their face value throughout the Russian Federation for all types of payments, as well as for crediting to accounts, deposits, and transfers.

The law divided the powers of the Government of the Russian Federation and the Central Bank of the Russian Federation in the field of production of banknotes. The Central Bank of the Russian Federation is responsible only for planning the volume of their production.

In order to organize cash circulation, it is assigned the following functions:

• forecasting and organizing the production of banknotes and metal coins;
• creation of reserve funds of banknotes and coins;
• determination of rules for storage, transportation and collection of cash;
• establishing signs of payment of banknotes and the procedure for replacing and destroying banknotes;
• approval of rules for conducting cash transactions for credit institutions.

In 2002, the Bank of Russia introduced the Regulation “On the procedure for conducting cash transactions in credit institutions on the territory of the Russian Federation” dated October 9, 2002 No. 119-P (as amended on June 1, 2004).

The procedure for securing banknotes. State legislation (federal laws “On the Central Bank of the Russian Federation”, “On Banks and Banking Activities”) establishes what can serve as security for banknotes (inventory assets, gold and precious metals, freely convertible currency, securities, insurance policies, guarantees of the Government of the Russian Federation, banks and other organizations, etc.). The use of other types of collateral or violation of the basic rules of collateral should not be allowed.

Emission mechanism represents the procedure for releasing money into circulation and withdrawing it from circulation. Non-cash money is issued by commercial banks in the process of performing credit transactions. When loans are repaid, money is withdrawn from circulation. Cash issuance is carried out by the cash settlement centers of the Central Bank of the Russian Federation. Cash withdrawal occurs when commercial banks deposit cash in cash settlement centers.

Structure of money supply in circulation is considered in two ways. This is either the ratio between cash and non-cash money supply, or the ratio between banknotes of different denominations in the entire volume of the money supply.

The procedure for forecast planning of cash flow includes a system of forecast cash flow plans; the bodies drawing up these plans; a set of indicators determined using these plans; tasks solved using each plan.

Monetary regulation mechanism is a set of monetary regulation tools (methods); rights and responsibilities of bodies carrying out monetary regulation; tasks and objects of monetary regulation.

The procedure for establishing the exchange rate, or quotation of currencies, represents the ratio of the currency of a given country to the value of the currencies of other countries, for example 1 dollar = 36.7 rubles. Before perestroika, Russia used a procedure for establishing the exchange rate based on the gold content of various currencies. However, since currently the gold content of the monetary unit is not fixed in any country, a quotation method is used that takes into account fluctuations in the purchasing power of national currencies, as well as the supply and demand of a particular currency in the foreign exchange markets. The most popular method of quotation is based on a “basket of currencies”, in which the national currency is compared with a number of other national currencies included in the “basket”.

The procedure for cash discipline on the farm reflects a set of general rules, forms of primary cash documents, reporting forms that should guide enterprises and organizations of all forms of ownership when organizing cash flow passing through their cash desks. Control over compliance with this procedure is assigned to commercial banks providing cash services to households.

Modern monetary systems are not static. They continue to develop, becoming more economical and efficient. The general trend for the monetary systems of different countries is the expansion of the use of modern computer electronic technology in the organization of money circulation. "" are increasingly used, which are not records on paper, but records in the form of electronic signals, primarily on magnetic or other media. This makes it possible to significantly increase the share of non-cash turnover in the total money turnover, speed up settlements, ensure better control of banks and tax authorities over money turnover, and achieve significant savings in distribution costs.

Modern monetary system of the Russian Federation

The monetary system of the Russian Federation is based on money that is not redeemable for gold, i.e. has a paper-credit nature. The legal basis of the Russian monetary system is Federal Law No. 86-FZ of July 10, 2002 “On the Central Bank of the Russian Federation (Bank of Russia)”. The official currency is the ruble, divided into 100 kopecks. The monopoly right to issue and withdraw cash from circulation belongs to the Bank of Russia. In the field of organizing monetary circulation, the Central Bank of the Russian Federation performs a number of important functions:

• predicts and organizes the production, transportation and storage of banknotes and coins, creates reserve funds of banknotes and coins;
• establishes rules for the storage, transportation and collection of cash;
• determines the rules for conducting cash transactions (cash transactions) for credit institutions;
• establishes the signs of solvency of banknotes and coins, the procedure for their destruction, as well as the replacement of damaged banknotes and coins with valid ones.

There are currently two types of banknotes in the cash circulation channels, which are an unconditional obligation of the Bank of Russia and are mandatory for acceptance in all types of settlements and payments - banknotes (bank notes) and coins. Currently in circulation are banknotes in denominations of 10, 50, 100, 500, 1000 and 5000 rubles. and coins in denominations of 1, 2, 5, 10 rubles, 1, 5, 10, 50 kopecks.

Banknotes are produced at Goznak enterprises. The Central Bank of the Russian Federation designs banknotes: each banknote has a unique design theme and predominant color, and the entire series of banknotes of one issue contains common design elements. The first step in creating banknotes is to carry out a large-scale design using computer technology; then an engraving is made on metal, which is converted into a metal cliche with a pattern repeated many times in real scale. Banknotes are printed from cliches. In the production of banknotes, three types of printing are consistently used: offset, intaglio (metallographic) and letterpress (typographic).

Modern banknotes have a set of security features that make them difficult to counterfeit. For example, a 5,000 ruble banknote issued for circulation in 2006 contains security elements (Table 3.1).

Table 3.1. Signs of solvency of a banknote of 5000 rubles.

The circulating banknotes of the 1997 sample and the modified banknotes of the 2004 sample contain a plot representing a “city series” - each banknote is dedicated to a specific city in Russia.

Coins in denominations of 1 and 5 kopecks. are made of white bimetal nickel silver - steel - nickel silver. Coins in denominations of 10 and 50 kopecks. are made of yellow copper-zinc alloy. Coins in denominations of 1 and 2 rubles. are made of white copper-nickel alloy. Coin worth 5 rubles. made of white bimetal nickel silver - copper - cupronickel. A unique two-color coin worth 10 rubles. (Fig. 3.22). It contains a nickel silver disc and a brass ring. When making a coin, the ring and disk are first assembled, then the inscription is applied, and only then the final minting occurs. Four degrees of protection were used for the first time:

• combination of yellow and white metal. The relief pattern transitions from a yellow ring to a white core;
• reefs - lines marked on the side surface of the coin;
• the inscription that goes along the reefs: “ten rubles”;
• hidden image - two inscriptions are “hidden” in the zero: with one tilt you can read “10”, with the other - “rub”.

Rice. 3.22. Coin of the Bank of Russia in denomination of 10 rubles. model 1997

As an element of the Russian monetary system, it is a set of purchasing, payment and accumulated funds that serve economic relations and belong to economic entities (individuals and legal entities, the state).

To analyze the volume and structure of the money supply, as well as its movement, the financial statistics of the Bank of Russia use four monetary aggregates:

An independent component of the money supply is the monetary base (), which includes the aggregate, cash in the working cash registers of banks, bank funds in mandatory reserve accounts and correspondent accounts with the Central Bank of the Russian Federation. This money not only has greater liquidity, but also shows the capacity of the Central Bank of the Russian Federation and its ability to fulfill its obligations. In economic studies, this money is also called “high efficiency” money, since it can be directly controlled by the Central Bank of the Russian Federation. In the practice of managing monetary circulation, the Bank of Russia uses several aggregates of the monetary base (see Fig. 3.25).

One of the features of Russia's monetary circulation is the use of foreign currency as a means of payment and a form of savings. This led to the use of another indicator of the money supply - “broad money” (), which includes the aggregate () and deposits in foreign currency in the national banking system (foreign exchange liabilities of credit institutions). This indicator is used to predict the demand for money, changes in the ruble exchange rate, the stability of the financial and banking system and capital flight. To determine the value, the average annual exchange rate is used. Thus, the total money supply includes the money supply in foreign currency and the national money supply (Figure 3.23).

Emission system The Russian Federation combines the issue of cash and non-cash credit issue. The Bank of Russia issues cash into circulation. Their turnover is organized according to the scheme (Fig. 3.24). Cash circulation begins in the structural divisions of the Central Bank of the Russian Federation. Cash is considered to have entered circulation after its transfer from the working cash desks of cash settlement centers (RCCs) to the operating cash desks of commercial banks. From the operating cash desks of commercial banks, money is issued to clients (enterprises, organizations, individuals). Cash is constantly in circulation, since after the completion of the settlement and payment turnover it is returned to the operating cash desks of banks, and then to the circulating cash desks of cash settlement centers. Thus, the release of cash into circulation and its withdrawal occur constantly.

Rice. 3.23. Structure of the total (total) money supply in the Russian economy

Rice. 3.24. Organization of cash circulation

An issue is an additional release of money into circulation. Money issue - This is a change in the amount of money in circulation; it is concentrated in the Bank of Russia. The need for the issue or withdrawal of money from circulation is determined on the basis of forecasting cash turnover. A change in the non-cash money supply is called credit issue.

Cash and non-cash money supply represents the liabilities of the banking system, equal to the monetary assets of economic entities in the country (enterprises and organizations, states, households). (Central Bank of the Russian Federation and commercial banks) assumes obligations in which it realizes the demand for money (Table 3.2).

Table 3.2. Scheme of the balance of the national money supply in an analytical presentation

The main source of money supply is credit emission, concentrated in commercial banks, which participate in the expansion of money supply directly due to the credit multiplier effect and indirectly, using the refinancing system of the Central Bank of the Russian Federation and emission for the increase in gold and foreign exchange reserves. To analyze the money supply in the Russian economy, the Central Bank of the Russian Federation uses several indicators of the monetary base (Fig. 3.25).

Rice. 3.25. Structure of the monetary base

The structure and dynamics of the monetary base in the Russian economy, which forms the basis of the money supply, is characterized by a number of features:

- a set of monetary instruments (money supply parameters, reserve norms, interest levels, loan terms, refinancing rates, etc.) and monetary regulation institutions (Central Bank of the Russian Federation, Ministry of Finance).

In accordance with the Constitution of the Russian Federation, the main function of the Central Bank of the Russian Federation is to protect and ensure the stability of the ruble, which it carries out independently of other government bodies. To implement this function, Federal Law No. 86-FZ provides for a number of monetary regulation instruments that are used by the Bank of Russia:

• interest rates on Bank of Russia operations;
• standards for required reserves deposited with the Bank of Russia (reserve requirements);
• open market operations;
• refinancing of credit institutions;
• foreign exchange interventions;
• establishing benchmarks for money supply growth;
• direct quantitative restrictions;
• issuing bonds in one's own name.

Since cash emission is completely controlled by the Bank of Russia, these instruments are aimed at managing credit emission, i.e. lending activity of commercial banks. The volume of lending by commercial banks to the economy (business entities) depends on the volume of resources that they attracted into their circulation, called liabilities. With the help of monetary regulation instruments, the bank can expand or reduce the volume of these resources depending on the monetary program adopted for the corresponding financial year.

According to the international standard, the Russian ruble corresponds to ISO 4217 (number 643, and in the financial system 810).

The appearance of the ruble and the origin of its name

As for the chosen name, there are three versions about where the “ruble” came from:

1. A modified version of the Indian rupee - as you know, the word “rupee” is translated precisely as processed silver.
2. As a version of the word “tripe,” Novgorod kopecks were made by pouring in two steps, which is why a specific seam was visible on their end.
3. According to the third version, the name comes from the verb “to chop” - in some cases, the ingots were formed into rods, which were then split into four equal parts.

In the 14th century, the minting of coins and their relationship to the ruble began in the Russian lands, and in the middle of the next century this unit became official in the Russian state. At the same time, for some period the inequality of its relations with coins according to the place of production remained.

Rubles in the Russian Empire

20 years later, the first banknotes with a “ruble” name appeared in Russia; these were bills of 250 and 100 rubles, which were popularly called “Duma”, since the State Duma was drawn on them. A little later, smaller denominations appeared - 20, 40 and 10 rubles.

At the end of 1918, the ruble was “chopped” again - based on the “kerenok”, cut into four, with the addition of new forms, new bills were issued, equal to exactly quarters of the original banknotes.

In 1921, global price surges led to the appearance of 25- and 100-thousand-ruble banknotes, and in October, bills with a face value of one million rubles appeared. At the end of the year, the government announced a denomination with a conversion of 1 to 10,000 and began producing new coins. A year later, all existing variations of banknotes were replaced by a single ruble, and at the same time new money from 1 to 50 rubles was printed, as well as “golden tickets” backed by precious metal.

In 1924, new banknotes came into circulation, and then for several years the old ones were withdrawn. In 1937, rubles with a portrait of V.I. appeared for the first time. Lenin. They were tied to the dollar, in a ratio of 1:5.3 in favor of the latter. The reform carried out in 1961 did not affect the appearance of the currency, and in 1964 special rubles appeared for travelers and those traveling abroad.

New time

Due to several sharp drops in 1998, the national currency was redenominated at a rate of 1:1000. After the default this year, the exchange rate to the dollar settled at 20.6:1. In 2005, the Russian monetary unit was tied to the bi-currency basket.

The beginning of the 13th century, however, many historians agree that the ruble, as a monetary concept, existed earlier, possibly since the 10th century.

Origin of the concept

The history of the emergence of the ruble is directly related to the history of the Novgorod Land. The first written mention of the ruble dates back to 1281-1299. At that time, many fragmented Russian principalities used the Kyiv hryvnia as a currency. We can consider that the history of the development of the ruble is a continuation or even a “branch” of the history of the hryvnia.

At the beginning of the 13th century, 200-gram silver bars in the form of sticks were in use in Novgorod, which, with their oblong shape and weight, resembled the hryvnia - the monetary unit of Kievan Rus. However, unlike Kyiv, in Novgorod these bars were called “ruble”.

The history of the Russian ruble connects the name of the monetary unit with ordinary Russian people. Since the name is distinguished by its belonging to the vernacular, it is likely that bullions began to be called the ruble long before the first mention in documents, which is why it is very difficult to determine the exact time of origin of the ruble.

Value

There is no consensus regarding the value of the first rubles. In the fragmented principalities, they used silver bars - hryvnias or rubles; for smaller payments, foreign coins, denarii and dirhams, called “kunas” in Russian, were used.

Sometimes 200-gram bars had to be cut into half or smaller pieces for the accuracy of calculations. This fact complicates the determination of the exact value of the ruble, since according to some data the ruble was an analogue of the hryvnia, and according to others it was its “stump” equal to 100 grams.

It is likely that the fragmented principalities did not fully agree on the names of monetary units, and the ruble in Novgorod was really equal to the hryvnia, and the ruble in Moscow was half as much. It has been proven that the Lithuanian rubles that appeared later weighed 100 g.

Etymology of the word

The history of the ruble does not contain data on the exact origin of the term. Today, there are four main options for the origin of the word “ruble”. The main version is that the ruble is a derivative of the word “rub”, which means “seam”. The Novgorod ruble was minted using a technology according to which first half of the silver was poured into the mold, and then the second part, while a seam was formed in the middle of the ingot. Hence the popular name for the ingot - ruble.

According to the second version, the root of the word comes from the verb “to chop.” In this case, scientists are considering two possible options. The first - the ruble was part of the hryvnia, or rather, a quarter of it; that is, half a dime, cut in half. The second option - the Novgorod ruble differed from the Kyiv hryvnia by notches that specified the dignity and value of the silver bar.

The remaining two versions suggest the borrowing of the term from other languages. Perhaps the word "ruble" has common roots with the word "rupiah", which means "silver that has undergone processing." In addition, there is a likely connection with the Arabic word for “quarter,” which sounds like “rub.”

The history of the ruble stops at the first two versions, since historians share the opinion that the word “ruble” belongs to the vernacular, which does not agree with the possibility of borrowing the term.

First rubles

The use of solid ones was extremely inconvenient, but continued until the 14th century, when, during the reign of Dmitry Donskoy, new small coins began to be minted. Each coin weighed a little less than one gram and was called “denga”, being a legacy of the Tatar-Mongol yoke. It is from this moment that the history of the ruble coin begins.

The coins differed in shape, as it was difficult to mint a perfect circle, however, the weight and seal in the center of the coin were the same. The design of the seal could differ depending on the principality in which the coins were minted.

Thanks to the transition to smaller money, payments became much more convenient and over time, 200-gram bars came out of use among the common people and began to be used only in wholesale trade.

Under the influence of the political power of the Novgorod and Moscow principalities, as well as the Western Russian Principality of Lithuania, by the 15th century, the ruble completely replaced the hryvnia and became not only the name of the bullion, but also a philistine concept adopted for calculating and calculating the amount of money in the household.

Changes and reforms

The first widespread monetary reform of the ruble was carried out in the middle of the 16th century. In 1534, a unified monetary reform began in Moscow, the purpose of which was to unify the coins used for payments, as well as to rid the domestic market of foreign currency, which was causing confusion in trade.

The main monetary unit was the Moscow ruble, which consisted of 200 Moscow money or 100 Novgorod money. Subsequently, Novgorod coins began to be called “kopeks”, and Moscow coins - “mechenki”. These names are associated with the seal on the back of the coins. A warrior with a spear on a horse was minted on the kopeck, and a warrior with a sword was minted on the tag. The smallest coin was considered a half coin, that is, half a mark; often it was just a coin, chopped or broken in half.

Since silver bars in ruble denominations completely fell out of use during the 16th century, the ruble remained nothing more than a unit of measurement until the mid-16th century.

In 1654, a one-ruble coin was minted for the first time. In fact, these were re-minted German coins, on which the coat of arms was printed on one side and the king on horseback was depicted on the other side. The coin was called “ruble”, but weighed less than its denomination - 64 grams.

Under the reign of Peter I, money began to be minted independently, and a number of changes were made and copper pennies weighing 28 g and denominations of 1/100 of the ruble were introduced. In addition to copper kopecks, gold chervonets were also introduced in denominations of 3 rubles and weighing just over 3 g of gold. Later, by the end of the 18th century, the weight of silver in a 1 ruble coin dropped to 18 grams.

Banknotes

The first paper rubles appeared during the reign of Catherine II, in 1769. These notes were in use for 50 years; at this time, their printing was not controlled by the state, which led to the actual collapse of the economy, since there were more paper rubles than the precious metals that provided them. In 1843, banknotes were completely withdrawn from use.

The first failed banknotes were replaced in the same year by bank notes, however, for the same reasons, banks soon stopped exchanging them for silver and gold - there was more paper money than metal allocated for collateral.

The reform of 1897 introduced a new paper ruble backed by gold. Rubles were printed using a new technology that involved the use of several colors and different levels of protection. The multicolor Oryol seal (named after Ivan Orlov) made it possible to avoid counterfeits and increase state control over the issue of the number of banknotes.

The beginning of the twentieth century and the tsarist monetary system

The period of the collapse of the Russian Empire and the formation of Soviet Russia is usually called the “Time of Troubles.” Not surprisingly, the history of the Russian ruble during this period is considered the most complex and the number of official and unofficial changes in the currency is difficult to count.

Even during the Japanese War, the Empire began to experience a shortage of funds; Popular discontent, attempted coups, and Russia's entry into the World War actually left the Empire with an extreme shortage of money. All coins, even the smallest ones, disappeared from use.

In practice, everything that was called rubles for reporting purposes and was used in trade did not have even the smallest value, since it was not backed up by a reserve of precious metals. Self-printed banknotes, wine labels, and even drawn money began to be called rubles. In the history of the development of the ruble, as well as in the history of the country, this period can be considered the most unstable.

The history of the ruble in Russia during the early Soviet period begins in 1923, when the first equivalent to 10 imperial rubles was minted. To exchange chervonets, silver coins were issued - silver coins. These are one of the rarest Soviet coins, since chervonets and silver coins were used mainly for foreign transactions, and there were practically none left on the territory of the country.

Since the 30s. In the 20th century, paper rubles and small change coins made of cheap metal alloys began to appear. The government's efforts to bring money to a single format continued until the middle of the century, while the appearance of rubles and kopecks changed very often.

1961 reform

The most large-scale monetary reform in the history of the USSR and, perhaps, Russia as a whole was prepared over the course of 10 years. The materials and value of the new ruble were selected, a single format was drawn up, and a single design was chosen. Over the next few years, the Union completely replaced everything with new ones.

One ruble of the new model was equal to 10 old rubles (the first Soviet model) and had a gold equivalent of 1 g of gold. Everyday coins were no longer minted, except for the issue of coins dedicated to important events or anniversaries.

Modern Russian ruble

The history of the ruble underwent another crisis in the early 90s. After the collapse of the USSR, the old Soviet rubles were in use until 1993, when inflation and the economic crisis completely crippled the national currency and did not allow a painless transition to the format.

To avoid an increase in inflation, a monetary reform was carried out in 1993 and new banknotes with a large number of zeros were introduced into circulation. In 1998, the government of the Russian Federation carried out a series of monetary reforms, followed by the redenomination and issue of new banknotes, which are still in circulation today.