Russian Ruble

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Russian Ruble

The currency of Russia. It was issued in 1998, replacing the Soviet ruble (which was also called the Russian ruble after the fall of the Soviet Union). Despite the issue of a new currency, it lost 70% of its value against the U.S. dollar in six weeks as a result of the Russian financial crisis. It is a floating currency.
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References in periodicals archive ?
The Russian currency (ruble) is currently used to settle 10 per cent of the payments resulting from trade between Russia and China.
Summary: TEHRAN (FNA)- The Russian currency will replace the dollar in transactions between the two countries, Tareck El Aissami, Venezuela's vice president of the economy, said at the St.
"The main aim is to study the possibility of reducing or suspending customs duties, to bypass the problem of the fragility of the Russian currency (the Russian rouble), he told TAP Agency, on the sidelines of the Tunisian-Russian Economic Forum, specifying that in their trade, the two countries are obliged to use an intermediate currency, in this case the Euro or the Dollar, which is likely to increase the expenses of economic operators due to losses linked to exchange transactions".
The Russian currency lost slightly - 1.58 soums and amounts to 128.14 soums.
"There is also the issue of the exchange rate of the Russian currency, the general instability in the region geopolitically, even the German market faces its own difficulties."
Tourists from Russia rose by 64.8% as a fall in the value of the Russian currency against the dirham was offset by the loosening of entry visa requirements.
Statistics on international visitors showed an increase in the number of tourists coming from Russia by 64.8 percent, which was supported by the loosening of entry visa requirements, despite a plunge in the value of the Russian currency against the dirham, it stated.
The Russian currency should be advanced as the main tool of payments," the Russian Vice Minister of Finances suggested.
When the USSR broke up, the Russian currency went into freefall, a bit like the pound, and they couldn't even feed their pensioners.
Similarly, the Turkish currency also depreciated by 34 percent, the Russian currency by 12 percent, British pound by 7 percent, and Chinese currency by 8 percent.
The upcoming US embargo on Iranian oil exports, the possibility of Russian currency bubble, the emerging impact of the US-Turkey skirmishes, the worsening state of the Saudi-Canadian relations and the growing US crude output; all continue to haunt the global crude markets one way or the other.

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