page_title: Russian ruble
section_title: Exchange rates
hierarchical_section_title: Russian ruble / Economics / Exchange rates
caption_attribution_description: Русский: Динамика курса доллара США по отношению к рублю c 1.01.2014 по 22.08.2015. Данные ЦБ РФ: https://www.cbr.ru/currency_base/dynamics.aspx?VAL_NM_RQ=R01235&amp;date_req1=01.01.2014&amp;date_req2=01.09.2015&amp;rt=1&amp;mode=1
context_page_description: The Russian ruble or rouble is the currency of the Russian Federation, the two partially recognised republics of Abkhazia and South Ossetia and the two unrecognised republics of Donetsk and Luhansk. The ruble is subdivided into 100 kopeks.
  The ruble was the currency of the Russian Empire and of the Soviet Union. However, today only Russia, Belarus and Transnistria use currencies with the same name. The ruble was the first currency in Europe to be decimalised, in 1704, when the ruble became equal to 100 kopeks.
  In September 1993 the Soviet ruble was replaced with the Russian ruble at the rate 1 SUR = 1 RUR. In 1998 preceding the financial crisis, the Russian ruble was redenominated with the new code "RUB" and was exchanged at the rate of 1,000 RUR = 1 RUB.
context_section_description: The financial crisis in Russia in 2014–2016 was the result of the collapse of the Russian ruble beginning in the second half of 2014. A decline in confidence in the Russian economy caused investors to sell off their Russian assets, which led to a decline in the value of the Russian ruble and sparked fears of a Russian financial crisis. The lack of confidence in the Russian economy stemmed from at least two major sources. The first is the fall in the price of oil in 2014. Crude oil, a major export of Russia, declined in price by nearly 50% between its yearly high in June 2014 and 16 December 2014. The second was the result of international economic sanctions imposed on Russia following Russia's annexation of Crimea and the Russian military intervention in Ukraine.
  The crisis affected the Russian economy, both consumers and companies, and regional financial markets, as well as Putin's ambitions regarding the Eurasian Economic Union. The Russian stock market in particular experienced large declines, with a 30% drop in the RTS Index from the beginning of December through 16 December 2014. From July 2014 to February 2015 the ruble fell dramatically against the U.S. dollar. A 6.5 percentage point interest rate rise to 17 percent failed to prevent the currency hitting record lows in a "perfect storm" of low oil prices, looming recession and Western sanctions over the Ukraine crisis.
caption: Cost of one Russian ruble per U.S. dollar between 2014-2017
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