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Russian Ruble to Nigerian Naira
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About Russian Ruble
The ruble or rouble is the currency of the Russian Federation. Banknotes and coins are issued by the Central Bank of Russia, which is Russia's monetary authority independent of all other government bodies.
The ruble is the second-oldest currency in continuous use and the first decimal currency. The ruble was the currency of the Russian Empire, which was replaced by the Soviet ruble during the Soviet period. Following the dissolution of the Soviet Union, by 1992, the Soviet ruble was replaced in the Russian Federation by the Russian ruble at par. The Russian ruble then further continued to be used in 11 post-Soviet states, forming a "ruble zone" until 1993. The ruble was further redenominated with the new code "RUB" just preceding the 1998 Russian financial crisis, and was exchanged at the rate of 1,000 RUR = 1 RUB.
As of April 2019, the ruble was the 17th-most traded currency in the world; however, due to international sanctions, the ruble dropped to being the 34th-most traded currency in the world as of April 2022. The ruble is subdivided into 100 kopecks which have fallen out of use due to inflation. In 2023, the digital ruble was introduced. WikipediaAbout Nigerian Naira
The naira is the currency of Nigeria. One naira is divided into 100 kobo.
The Central Bank of Nigeria is the sole issuer of legal tender money throughout the Federal Republic of Nigeria. It controls the volume of money supplied in the economy in order to ensure monetary and price stability. The Currency Operations Department of the CBN is in charge of currency management, through the designs, procurement, distribution and supply, processing, reissue and disposal or disintegration of bank notes and coins.
A major cash crunch occurred in February 2023 when the Nigerian government used a currency note changeover—delivering too few of the new notes into circulation—to attempt to force citizens to use a newly-created government-sponsored central bank digital currency. This led to extensive street protests. Wikipedia