Russia.com - Currency

16 May 2008 English | На русском языке

Russian Currency

Russia is a well-developed country that has seen a lot of turbulence in fairly recent times. This is reflected in various facets of their economy. There are numerous ATM machines in the country and it is easy to draw cash, yet the import and export of Russian money is strictly prohibited. This is just one facet of dealing with Russian currency that visitors may find unusual. Below you will find that we have attempted to discuss as many of the restrictions and peculiarities of dealing with money in this country as possible to help you avoid confusion.

The currency of Russia is the Russian Rouble (RUB) which is divided into 100 kopeks. You will be able to obtain 1k, 5k, 10k, 50k, 1RUB, 2RUB, 5RUB and 10RUB coins as well as 10, 50, 100, 500 and 1000 RUB notes. You can only exchange your money at official foreign exchange bureaus and authorized banks. Further to this, all transactions must be recorded on a currency declaration form. The declaration form is usually issued to you when you arrive at the airport. It is also a good idea to keep all your exchange receipts to avoid potential confusion at a later date. Fortunately, there are numerous exchange bureaus located throughout the country so it is quite easy to exchange your money.

If you plan to use credit or debit cards, you will be pleased to know that most major European and international cards are accepted in large hotels and at foreign currency shops and restaurants. However, it is wise to keep in mind that roubles are preferred and that cards can be turned down. Travelers’ checks can be used but are not recommended. If used, they should be made out in US Dollars. Foreigners should also keep in mind that it is considered illegal to settle any accounts with hard currency and that it is illegal to change money unofficially. Attempting to do so could result in negative consequences.

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