RUBLE Print

Yury Ermolenko, "RUBLE", ("ETERNAL VALUES" project), 2009, acrylic on canvas, 225x150 сm. The Russian ruble or rouble (sign: ₽, code: RUB) is the currency of the Russian Federation. The ruble is subdivided into 100 kopeks. 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 ruble was the world's first decimal currency: it was decimalised in 1704 when the ruble became equal to 100 kopeks. In 1992 the Soviet ruble (code: SUR) was replaced with the Russian ruble (code: RUR) 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 RUB = 1,000 RUR. The ruble is the oldest national currency after the Pound sterling, and the world's first decimal currency. The ruble has been used in the Russian territories since the 13th century. The modern Russian ruble was created in December 1991 and used in parallel with the Soviet ruble, which remained in circulation until September 1993. Following the breakup of the Soviet Union in 1991, the Soviet ruble remained the currency of the Russian Federation until 1992. A new set of coins was issued in 1992 and a new set of banknotes was issued in the name of Bank of Russia in 1993. The Russian ruble with the ISO 4217 code RUR and number 810 replaced the Soviet ruble at the rate 1 SUR = 1 RUR. In 1991, the State Bank took over production of 1-, 3- and 5-ruble notes and also introduced 200-, 500- and 1,000-ruble notes, although the 25-ruble note was no longer issued. In 1992, a final issue of notes was made bearing the name of the USSR before the Russian Federation introduced 5,000- and 10,000-ruble notes. These were followed by 50,000-ruble notes in 1993, 100,000 rubles in 1995 and, finally, 500,000 rubles in 1997 (dated 1995). Since the breakup of the Soviet Union in 1991, Russian ruble banknotes and coins have been notable for their lack of portraits, which traditionally were included under both the Tsarist and Communist regimes. With the issue of the 500-ruble note depicting a statue of Peter I and then the 1,000-ruble note depicting a statue of Yaroslav, the lack of recognizable faces on the currency has been partially alleviated. In 1998, following the financial crisis, the Russian ruble was redenominated with the new ISO 4217 code "RUB" and number 643, and was exchanged at the rate of 1 RUB = 1,000 RUR. The redenomination was an administrative step that reduced the unwieldiness of the old ruble but occurred on the brink of the 1998 Russian financial crisis. The ruble lost 70% of its value against the US dollar in the six months following this financial crisis. In July 2007, the Central Bank of Russia announced that it would decide on a symbol for the ruble and would test 13 symbols. This included the symbol РР (the initials of Российский Рубль "Russian ruble"), which received preliminary approval from the Central Bank. However, one more symbol, a Р with a horizontal stroke below the top similar to the Philippine peso sign, was proposed unofficially. Proponents of the new sign claimed that it is simple, recognizable and similar to other currency signs. This symbol is also similar to the Armenian letter ք or the Latin letter Ꝑ. On 11 December 2013, the official symbol for the ruble became RUB, an Cyrillic letter Er with a single added horizontal stroke, though the abbreviation "руб." is in wide use. On 1 January 1998 a new series of banknotes dated 1997 was released in denominations of 5₽, 10₽, 50₽, 100₽ and 500₽. The 1,000₽ banknote was first issued on 1 January 2001 and the 5,000₽ banknote was first issued on 31 July 2006. Modifications to the series were made in 2001, 2004, and 2010. In April 2016, the Central Bank of Russia announced that it will introduce two new banknotes—200₽ and 2,000₽—in 2017. All Russian ruble banknotes are currently printed at the state-owned factory Goznak in Moscow, which was founded on 6 June 1919 and operated ever since. Coins are minted in Moscow and at the Saint Petersburg Mint, which has been operating since 1724. 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. In the countries of the former USSR there is an interesting tradition associated with the colour of money. Denominations of 10 almost always have a red tinge, and are called "chervonets", which comes from the old Russian word "chervony" meaning "red". In the Russian Empire, the high-grade gold from which the coins were made was called "red gold". Then the corresponding denominations worth 10 rubles began to be issued with a red tinge that were subject to exchange for gold. In the USSR (which included almost all the regions of the former Russian Empire) in the early 1920s, banknotes of one chervonets were also issued, which were provided with gold.

Print:Giclee on Fine Art Paper

Size:8 W x 12 H x 0.1 D in

Size with Frame:13.25 W x 17.25 H x 1.2 D in

Delivery Time:Typically 5-7 business days for domestic shipments, 10-14 business days for international shipments.