RUBLE Meaning and
Definition
-
The ruble is the official currency of Russia. It is denoted by the symbol "₽" and has the ISO code RUB. The ruble is also used as the official currency in the partially recognized states of Abkhazia and South Ossetia. In the past, it was also the currency of the Soviet Union and various other countries that were part of the former Soviet Union.
The ruble is subdivided into 100 kopeks. However, kopek coins are rarely used in circulation nowadays, with the ruble being primarily circulated in banknotes. The denominations of ruble banknotes currently in circulation range from 5 to 5,000 rubles.
Issued by the Central Bank of Russia, the ruble's value is subject to market fluctuations. Its exchange rate is influenced by various factors, including the state of the Russian economy, international trade, and geopolitical developments. The ruble can be freely converted into other currencies, and exchange rates are determined by supply and demand in international currency markets.
As the national currency, the ruble plays a significant role in daily transactions within Russia. It is accepted as a legal tender for all types of goods and services. The ruble's stability, purchasing power, and overall value have a direct impact on the living standards of Russian citizens and the country's economic well-being.
Common Misspellings for RUBLE
Etymology of RUBLE
The word "ruble" originated from the Russian language. Its etymology can be traced back to the Russian word "рубить" (pronounced 'rubit'), which means "to chop" or "to cut". The ruble was originally a measure of weight, and chunks of a silver bar were cut off to be used as currency. The name ruble or рубль (rublʹ) was then adopted as the name for the official currency of Russia. Over time, it has been used for various currencies in other countries such as Belarus.
Similar spelling words for RUBLE
Infographic
Add the infographic to your website:
