The Russian ruble (RUB) is the official currency of the Russian Federation, divided into 100 kopecks, with ISO 4217 code RUB.
Russian rubles are the official currency of the Russian Federation. The currency code of the Russian ruble per ISO 4217 is RUB. The ruble is divided into 100 kopecks.
Historical Origins of the Ruble
The first mention of the ruble dates to the 13th century. It shares a close historical link with the Ukrainian hryvnia, as both emerged as equivalent currencies in the Novgorod Republic. Two theories explain the name: either from splitting the hryvnia in half (or quarters per some sources), or as an equal value coin made differently with a seam on the edge (where “rub” meant “edge” or “border”). The ruble soon displaced the hryvnia, dominating by the 15th century.
Over the centuries, the Russian ruble has undergone many changes, from various forms like assignats, banknotes, gold, silver, copper, and even platinum coins, to evolving designs featuring Russian emperors and later Vladimir Lenin. Before the USSR, a “chervonets” was a three-ruble coin; later, the Soviet 10-ruble chervonets matched the gold content of 10 imperial rubles.
Ruble Denominations
Paper banknotes currently come in 50, 100, 200, 500, 1000, and 5000 rubles. Coins include 10 and 50 kopecks, plus 1, 2, 5, and 10 rubles. Since 2012, the 10-ruble banknote has been fully withdrawn and replaced by a coin.
The official ruble symbol was introduced in December 2013: a Cyrillic uppercase Р with a horizontal line at the bottom on its “foot,” resembling two parallel lines symbolizing stability.
Ruble on the Forex Market
On the Forex market, the most popular pairs are dollar/ruble and euro/ruble, with the highest trading volumes. The Central Bank of Russia sets daily rates for these currencies for exchanges and banks, but market quotes differ significantly from exchange points due to commissions, often disadvantaging retail users.
Trading Ruble on Moscow Exchange
Trading currency pairs on the Moscow Exchange has unique features. For dollar/ruble, deals start from a 1000-dollar equivalent.
The USD/RUB pair seems simple, attracting beginners who recall street currency traders or personal forex attempts. However, new traders often lose money by ignoring comparative analysis of assets.
Experts advise “buy what you know,” and Russians feel they know USD/RUB. In reality, trading relies on a few memorable crises rather than deep understanding.
How to Trade USD/RUB on Moscow Exchange
- Define your goal for trading USD/RUB. For speculators, it’s short-term profit when other assets lack signals. For investors, it’s hedging ruble-denominated deposits, bonds, or stocks.
- Eliminate biases. Collect and analyze statistics to debunk myths. Monthly data counters tales like “strong dollar in summer.” Unpredictable signals like political statements affect position size, not trade execution.
- Use multifactor analysis beyond USD/RUB dynamics. Monitor oil, gold, global and Russian indices, and EUR/USD for better accuracy.
- Understand order placement pitfalls. Trade via spot market or futures. Spot has stop-loss issues during TOM-to-TOD transitions, suiting automated systems. Futures require grasping contract value vs. initial margin.
EUR/RUB on Moscow Exchange
The second most popular is EUR/RUB, following USD/RUB.
For EUR/RUB strategy, focus on Moscow Exchange spot contracts over futures, using timeframes under one hour with indicators, advisors, or mechanical systems. Include EUR/USD behavior and macro news.
Trading EUR/USD on Moscow Exchange
The global EUR/USD futures contract ranks around 10th in liquidity on Moscow Exchange. It’s suitable if spot contract costs make unleveraged trading inaccessible for small accounts.
Given differing trading hours, low volatility, and ruble settlement, this suits enthusiasts; beginners face unnecessary challenges.
About Other World Currencies
- Знак рубля: российская валюта обрела свое графическое обозначение
- Мировые валюты на Форекс: Доллар США – USD
- Мировые валюты на Форекс: Европейская валюта евро – EUR
- Украинская гривна – самая красивая валюта мира
FAQ
What is the official symbol of the Russian ruble?
The ruble symbol ₽, introduced in December 2013, features a Cyrillic Р with a horizontal line, symbolizing stability.
What are the main ruble denominations in circulation?
Banknotes: 50, 100, 200, 500, 1000, 5000 rubles. Coins: 1, 2, 5, 10 rubles and 10, 50 kopecks.
How can beginners trade USD/RUB on Moscow Exchange?
Define goals, eliminate biases with data, use multifactor analysis including oil and indices, and master order pitfalls in spot or futures markets.
