Russian Ruble country flag

Russian Ruble

RUB

₽
Hungarian Forint country flag

Hungarian Forint

HUF

Ft
Russian Ruble
The ruble (or rouble) (Russian: рубль, romanized: rublʹ, [ˈrublʲ] ; symbol: ₽; ISO code: RUB) is the official 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. Each ruble is technically subdivided into 100 kopeyka (kopecks), but kopeck-denominated coins are now rarely used due to inflation. It is the second-oldest currency in continuous use, after British sterling. It was also the first decimal currency. The ruble was the currency of the Russian Empire and later the Soviet Union, where it was known as the Soviet ruble (code: SUR, 810). Following the dissolution of the Soviet Union in 1991, the Soviet ruble was replaced in Russia with the Russian ruble (code: RUR, 810) at par in the following year. The Russian ruble continued to be used in 11 post-Soviet states, forming a "ruble zone" until 1993. In 1998, the ruble was redenominated (code: RUB, 643) shortly before the 1998 financial crisis, at a rate of 1000 RUR = 1 RUB. The ruble is a free-floating currency, and in 2023, the digital ruble was introduced. The Russian ruble is also used as a de facto legal tender in Baikonur, Abkhazia and South Ossetia.
Hungarian Forint
The forint (sign Ft; code HUF) is the currency of Hungary. It was formerly divided into 100 fillér, but fillér coins are no longer in circulation. The introduction of the forint on 1 August 1946 was a crucial step in the post-World War II stabilisation of the Hungarian economy, and the currency remained relatively stable until the 1980s. Transition to a market economy in the early 1990s adversely affected the value of the forint; inflation peaked at 35% in 1991. Between 2001 and 2022, inflation was in single digits, and the forint has been declared fully convertible. In May 2022, inflation reached 10.7% amid the Russian invasion of Ukraine and economic uncertainty. As a member of the European Union, the long-term aim of the Hungarian government may be to replace the forint with the euro, although under the Orbán governments there was no target date for adopting the euro.