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Russian
Ruble (RUR) / U.S. Dollar (USD)
The
ruble has been hovering around 29.5 rubles = $1 but is subject to
daily fluctuations.
Current
daily currency rates with online conversion:
http://ww.xe.net/ucc/
http://www.oanda.com/convert/classic?user=onlineconversion&lang=en
Ruble
rates:
http://www.forexdirectory.net/ruble.html
Russian
Rube
The
ruble is not a convertible currency. That means you can change dollars
into rubles before you leave, and you cannot change rubles into
dollars after you return.
Take
clean crisp new USD bills to Russia. Exchange points have been known
to decline old, crumpled or marked bills.
Russia
is a cash economy. This is even more the case the farther you are
from European Russia, large cities or tourist centers. Checks are
useless. Travelers’ checks are virtually useless in most places,
particularly in the RFE. Western-style establishments, such as hotels
and restaurants catering to foreigners, are likely to take major
credit cards, but don’t count on it without checking in advance
to be sure. Major hotels with significant foreign clientele will
change money. Banks that offer exchange services usually have signs
out with the going exchange rate. If you charge something in Russia,
the merchant and your bank may both make adjustments on the exchange
to their advantage and your disadvantage. Some Russian establishments
may be willing to accept dollars, but this is officially illegal,
and transactions are limited to rubles. If you are going to a region
with no banks or foreign exchange facilities, or limited services,
such as Chukotka, make sure you make prior arrangements with your
hosts or travel agent or others to obtain rubles.
Do
not count on being able to change money at RFE airports. You may
be asked to produce your cash upon entering and leaving. Make sure
the amount you report corresponds to what you really have – or you
are subject to being fined. Some travelers have been fined for even
minor discrepancies. Don’t even think about leaving Russia with
more money than you brought in.
Automatic
Teller Machines, already a fixture in places like Moscow, have been
making their way to distant regions, including the RFE and Sakhalin,
and provide currency exchange services.
Money
may be transferred from the United States to Russia and from Alaska
to the Russian Far East for commercial, institutional or large transactions.
It is not difficult, and any bank with correspondent relations with
a RFE bank can assist. An Alaska bank with considerable experience
in this area, National Bank of Alaska, was recently purchased by
Wells Fargo, which has kept NBA’s Russian-speaking banking personnel
and can help customers navigate the RFE financial process.
If
you intend to travel frequently, it is a good idea to hold onto
some rubles so that you have Russian cash when you enter the country
in case you arrive at off-hours and need it for a taxi. If you inadvertently
leave the country with rubles, hold onto them for your next trip
or trade them to someone planning a trip.
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