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LOCAL CURRENCY IN RUSSIA

Want to know the local currency in Russia? The local currency in Russia is called Ruble.

The Russian Ruble is issued and managed by the Bank of Russia. To find out the current currency exchange rates for Ruble to other major currencies of the world, click on foreign currency rates.

Russian Currency Information
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The currency used in Russia is called as the Ruble. This currency is denoted with the currency sign ???. / ?. and the ISO 4217 Code for the Russian Ruble is RUB. The Ruble, is the official currency of the Russia . It is divided into 100 smaller units called kopek (???????[2]).

The constitution of Russia provides that the Russia government shall have the power to print the Russian Ruble and kopek (???????[2]) coins to be used as a legal tender in Russia. The Russian Ruble bank notes and Kopek (???????[2]) coins are both designated as "legal tender" in payment of debts.

The Russian Ruble bill uses the decimal system, consisting of 100 equal units.

The symbol ???. / ?., usually written before the numerical amount, is used for the Russian Ruble.

Currently printed bank notes denominations are 1, 5, 10 kopeks 5, 10 rubles and the coins are minted in the denominations of 50 kopeks, 1, 2, 5, 10 rubles .

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The Effect of Balance of Trade and Investment on Russian Ruble
Financial analysts regularly cite the balance of trade and investment in Russia as the most important influence on the value of the Ruble. The difference between what the Russia exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Ruble exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Ruble exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Russian Ruble.
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