What Currency Is Used in Russia?

What currency is used in Russia?

Whether you're travelling to Moscow, doing business with Russian suppliers, or exploring online markets, understanding the local currency is essential. This guide is written for tourists, importers, expats, and international service providers. It explains what currency Russia uses, how it works, and how to manage it safely and effectively in a changing economic landscape.

Russia’s official currency: the Russian Rouble (RUB)

The official currency of Russia is the Russian Rouble, abbreviated as RUB and commonly symbolised as ₽. The rouble has a long history dating back to the 14th century and is one of the world’s oldest currencies still in use today.

• Currency name: Russian Rouble (sometimes spelled “ruble”)

• Currency code: RUB

• Symbol: ₽

• Subunit: 1 rouble = 100 kopecks (копеек)

The Central Bank of the Russian Federation (Bank of Russia) issues and regulates all rouble coins and notes, as well as overseeing monetary policy and exchange rate management.

Coins and banknotes in circulation

• Coins: 1, 2, 5, and 10 roubles; 1, 5, 10, and 50 kopecks

• Banknotes: ₽10, ₽50, ₽100, ₽200, ₽500, ₽1,000, ₽2,000, and ₽5,000

Higher denomination notes feature major Russian landmarks, while coins are commonly used for small transactions in everyday life.

Where the rouble is used

The Russian rouble is the only legal tender in the Russian Federation and must be used for all local transactions. It is accepted nationwide, from large cities like Moscow and St Petersburg to remote rural areas. Foreign currencies such as US dollars, euros, or pounds are not accepted for payments in shops, restaurants, or official services.

In some nearby regions with close economic or political ties to Russia (e.g. Belarus, certain parts of eastern Ukraine), the rouble may also circulate informally. However, it is not legal tender outside Russia.

How the Russian rouble works

The rouble operates under a floating exchange rate, although the Central Bank of Russia may intervene to stabilise its value. The currency has been subject to significant volatility in recent years due to global sanctions, oil price fluctuations, and shifting interest rates.

As of 2024, the exchange rate typically fluctuates around:

• ₽90–₽100 per US Dollar

• ₽110–₽120 per British Pound

Rates can vary widely, so it’s important to check current values before sending money, making payments, or exchanging currency.

Benefits and considerations of using RUB

Advantages:

• Universally accepted across Russia for all services, contracts, and retail purchases.

• Strong domestic infrastructure: Widely supported by Russian banking networks and payment apps.

• Cash and digital compatibility: Both cash and local card payments are common.

Considerations:

• Exchange restrictions: Due to sanctions and capital controls, accessing RUB from abroad may be difficult.

• Foreign card limitations: Many Western-issued debit and credit cards no longer function inside Russia.

• Volatility risk: Currency values may change quickly due to external pressures or policy decisions.

Common misconceptions

A common myth is that US dollars or euros are accepted in Russian stores or restaurants. This is not the case. Only Russian roubles can be used for in-person purchases and official transactions.

Another misconception is that international credit cards work everywhere. Following recent financial sanctions, many Russian retailers and banks no longer accept foreign-issued Visa or Mastercard cards. Domestic payment systems like Mir have become more widely used inside Russia.

Tips for managing money in Russia

• Exchange currency inside Russia if possible—rates are typically better locally than abroad.

• Bring euros or dollars in cash (if permitted by your country), then convert to RUB at authorised exchange offices.

• Use local bank cards or the Mir payment system for reliability if staying long-term.

• Avoid relying on international banking apps or payment platforms, as many are restricted or blocked.

• Carry some cash, especially when travelling to remote areas or using smaller services that don’t accept cards.

FAQs

Can I use foreign currency in Russia?
No. All in-person payments must be made in Russian roubles (RUB).

Can I exchange RUB outside Russia?
It’s difficult. RUB is not widely traded abroad. It’s best to exchange money within Russia if you can.

Are credit and debit cards accepted?
Locally issued cards are widely accepted. However, foreign-issued Visa and Mastercard may not work due to financial sanctions.

Is tipping expected in Russia?
Yes. A 5–10% tip in restaurants is common. Rounding up or tipping in cash is appreciated.

Real-life example

A traveller from Turkey visits St Petersburg with €800. On arrival, they exchange part of it at an official bureau to get ₽70,000. They use cash for most daily expenses and buy a local SIM card to activate a Russian e-wallet. Their international card doesn’t work in shops, so they rely on cash and a prepaid local card. By planning ahead, they avoid payment issues and manage their budget smoothly.