The Russian Ruble, one of the world’s oldest currencies, has been in use since the 13th century. Its historical journey includes being the first currency globally to go decimal in 1704 under the reign of Peter the Great. The Ruble’s name is derived from the Russian verb “rubit,” which means “to chop,” a nod to how early rubles were little more than chopped pieces of silver—demonstrating a fascinating evolution from its humble beginnings to a key symbol of Russian economic identity.

A unique aspect of the Ruble’s modern history was its period of being non-convertible until the fall of the Soviet Union in the early 1990s, when the nation opened up to the global economy. Today, the Ruble stands as a symbol of resilience, having withstood numerous economic upheavals and transformations against a backdrop of geopolitical shifts. This enduring currency offers a compelling narrative of adaptation and survival in Russia’s rich and complex history.