Course EUR(Euro)-RUB(Russian Ruble) for today

The history of Euro

The modern Euro (this abbreviation stands for the single European currency), which is currently used in 16 countries, owes its appearance to the European Union, founded in 1992. This was a new round of development and significant progress.

There is still an official date for the introduction of the Euro. On 01.01.1999, the single currency was launched at 00: 00. At the same time, there was an official, fixed rate for all national currencies of those countries that joined the Union, so there was a new unit of money. When the Euro was introduced in Europe, the national money continued to be in use. in January, on the 4th of 1999, auctions were held and exchange rates were established.

On 01.01.2002, each of the EU countries independently determined the terms for which new money was to be introduced, the term was limited to six months, but for an additional six months, trade was allowed for the old currency.

When did Europe introduce the Euro, removing the rest of the money? On 01.06.2002, the old money of the EU countries was abolished and completely replaced with new ones. The fixed-rate enabled new growth. Now investors could not take into account the possible risks that were tied to the currency, now there were significant savings on costs that could not be avoided when using national currency signs, simplified the process of insurance of currency risks, exchange operations and the development of price lists.

The history of the ruble

Paying for a particular product, few people thought about the history of the ruble… According to the chronicle, in the 13th century, when calculating for a product whose value was less than an ingot, it was cut into pieces and these pieces were called "ruble". During the reign of Peter the Great, for more convenient calculation, the ruble was divided into 100 parts, each part was called a "kopek", which served as an example for other states.

To cover the costs of the Turkish war, the coins had to be replaced with paper media. In 1915, the final withdrawal of coins occurred, which led to the depreciation of the ruble.

1917 Collapse of the Empire and the monetary system. National banknotes were printed outside the country. Other countries have this experience in different time frames. So at one time, the Ukrainian grivna was issued in the German capital-Berlin. In the '80s, in honor of the Olympics, which took place in Moscow, coins were made of precious metal: gold, silver, and platinum.

During the Soviet era, monetary reforms were repeatedly carried out. In 1991, the Moscow mint issued the Russian ruble, which is still used today. After the collapse of the USSR, many independent States began to introduce a national currency: hryvnia, litas, manats, etc.but Belarus chose its national currency rubles, but with a different design and was referred to as "bunnies" in the common people since a bunny was drawn on a 1 ruble note.

In 1993, Pridnestrovie introduced a national currency – coupons, which was expressed in rubles, and in 1994 Tajikistan introduced the ruble as its national currency. In 1998, a decision was made to improve the ruble externally, but this did not lead to any drastic external changes. This is the history of the rise, development, and fall of the ruble's value.