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  3. January
  4. 1
  5. Russian ruble

Events on January 1 in history

Russian ruble
1998Jan, 1

Russia begins to circulate new rubles to stem inflation and promote confidence.

The Russian ruble or rouble (Russian: рубль rublʹ; symbol: ₽, руб; code: RUB) is the official currency of the Russian Federation. The ruble is subdivided into 100 kopeks (sometimes written as kopecks or copecks; Russian: копе́йка kopeyka, plural: копе́йки kopeyki). The first Russian ruble (code: RUR) replaced the Soviet ruble (code: SUR) in September 1993 at parity or 1 SUR = 1 RUR. In 1998, preceding the financial crisis, the current ruble was redenominated with the new code "RUB" and was exchanged at the rate of 1 RUB = 1,000 RUR.

The ruble was the currency of the Russian Empire and of the Soviet Union (as the Soviet ruble). However, today only Russia, Belarus and Transnistria use currencies with the same name. The Russian ruble is also unofficially used in the four partially recognised republics of Abkhazia, South Ossetia, Donetsk and Luhansk. As of April 2019, the ruble is the seventeenth most traded currency in the world, and a free-floating currency.

References

  • Russian ruble
  • Inflation

Choose Another Date

Events on 1998

  • 4May

    Unabomber

    A federal judge in Sacramento, California, gives "Unabomber" Theodore Kaczynski four life sentences plus 30 years after Kaczynski accepts a plea agreement sparing him from the death penalty.
  • 6May

    Houston Astros

    Kerry Wood strikes out 20 Houston Astros to tie the major league record held by Roger Clemens. He threw a one-hitter and did not walk a batter in his fifth career start.
  • 26May

    Ellis Island

    The Supreme Court of the United States rules that Ellis Island, the historic gateway for millions of immigrants, is mainly in the state of New Jersey, not New York.
  • 4Jun

    Oklahoma City bombing

    Terry Nichols is sentenced to life in prison for his role in the Oklahoma City bombing.
  • 5Jun

    General Motors

    A strike begins at the General Motors parts factory in Flint, Michigan, that quickly spreads to five other assembly plants. The strike lasts seven weeks.

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