The currency system of Russia has evolved overlong years, since the inception of the state. Such systems replace each other, as over time, money changes its functions. At the beginning of the creation of the Russian Empire, there was gold in circulation, and now it has been supplanted by currency types of cardboard and credit savings.
The currency system of Russia provides for circulationa certain currency and various types of value tools. A currency unit is a monetary symbol established by the state, in its units prices for different goods are measured.
Russia's current monetary system is prettysteady. There is no gold collateral for credit and paper money, that is, banknotes do not change to gold. There is a fairly stable mechanism for switching to credit funds, which are converted into paper notes. The non-cash form prevails in the currency circulation of funds. Adjustment of money in circulation is carried out by special bodies of the Russian Federation.
The currency system of Russia began to formimmediately after the collapse of the USSR. Now it works in accordance with the law, which was developed in 1995. Currency unit is the ruble. Other units are strictly prohibited. The law does not require to relate the ruble to gold. The ruble exchange rate to currencies of other countries is set by the Central Bank of Russia. Iron coins and banknotes are valid in our territory. The Central Bank approves currency symbols, in the case of issuing new bills, information about this is distributed among the population by the media.
Only the Central Bank has the right to issue and withdrawfrom circulation bills. He also deals with the establishment of the ruble exchange rate in relation to other funds. Counterfeit banknotes are prosecuted. Currently, the use of banknotes, coins, and non-cash funds, such as bank accounts and cards, is officially authorized.
The national monetary system of the Russian Federation is strictly regulated by the laws of the 95th year “On the Central Bank of the Russian Federation”, as well as by these additions and changes to them.
If the banknotes were invalid, thenthey cannot be exchanged for new ones until the appointed time. It can be from 1 to 5 years. New banknotes are issued strictly in accordance with the amount of currency withdrawn.
Monetary system of the Russian Federationestablishes a currency unit, metal, procedure for the appeal and minting of funds. The base of the system is metal, which performs the function of a common equivalent. At the beginning of the 20th century in the capitalist countries they became silver, which supplanted gold.
National currencies began to form at 16-17centuries during the establishment of capitalism and the development of state markets. The monetary system of almost every country includes the following: the specific type or types of funds, the currency unit, the emission system and the scale of prices. The name of the currency is determined by the state. The scale of prices is an expression of the price of the goods through a certain weight of the precious metal in one currency.
