The currency used in Russia is the "Russian ruble," abbreviated as RUB. The ruble has been the currency of Russia for centuries, although its value and status have fluctuated significantly due to various economic conditions, including the collapse of the Soviet Union. The ruble is subdivided into 100 kopecks. It is an essential part of Russia’s economy, used in everyday transactions and trade. The Bank of Russia, the country's central bank, is responsible for managing the ruble and regulating monetary policy to maintain economic stability and control inflation.