Rubles: You will need lots of rubles as most goods and services are sold by law only for rubles, even to foreigners. Thus, exchange a sufficient sum at an official exchange bureau (after shopping for the best rate) to avoid the necessity to changing money at a store or restaurant at an unfavorable rate. Often you get the best rate by paying with a credit card.

Ruble Currency and Coins: New notes in circulation include 5, 10, 50, 100, 500, and 1,000 rubles. Coins include 1, 5, 10, 50 kopecks, and 1, 2 and 5 rubles. The 50 kopeck coin is more used.

Foreign Currency No Longer Legal Tender: Even though prices in many shops and restaurants are stated in dollars (or other currencies) because of inflation, payment is always made with rubles or by credit card. US dollars circulate officially as a second currency only in a few sectors of the economy (airlines, payment for visas, etc.). Some shady elements of the tourist industry still try to force you to pay in dollars (which is illegal), and few will refuse dollars when offered. Other currencies, Deutsch marks, Swedish kroner and Finnish marks, are more difficult to use.

Foreign Currency is a Legal Asset: Many Russians hold their savings in dollars or dollar assets as a hedge against a depreciating ruble.

What Dollar Bills to Bring. Bring along all denominations: $1's, 5's, 10's, & 20's for cash outlays and $50's and $100's for changing dollars into rubles. Preferably the bills should be new enough to have the vertical watermark stripe, which can be seen by holding the bills up to the light. Even better are the newly designed $100 bill, issued since early 1996, because they provide increased protection against counterfeiting.

All bills should be in good condition without writing or marks on them. Soiled or torn bills are not accepted.

Traveler's Cheques and Cash Advances: For information on buying and cashing traveler's cheques, see TRAVELER'S CHEQUES, For cash advances on credit cards, see CREDIT CARDS and CASH ADVANCES. For wire transfer of money, see BANKS and WESTERN UNION (MONEY TRANSFER).

Official currency exchange offices are called “obmen valyuty”. There are now hundreds of official exchange offices scattered throughout the city, in hotels, banks and stores. Official offices can change money and issue the proper receipts, which may be required to take some types of purchases out of the country. A passport is required to fill out the proper documentation. Below we list currency exchange offices arranged by locations. The initials after the location identify the bank running the exchange office.

The exchange rate is stated as rubles per dollar and is called the "kurs." As of December 2001 the kurs was around 30 rubles per dollar. The current "kurs" of The Moscow Interbanking Currency Exchange as well as an average "kurs" is quoted on Russian TV every morning or you can call 008. Also try the following service:

Interbank Information Service Mezhbankovskaya informatsionnaya sluzhba

Information on financial services, exchange rates,
 bank locations and hours of operation

Razezzhaya ul., 5.................311-57-12

Fax.......311-86-89	Tel.......315-71-71

Mo-Fr 10-18; M. Vladimirskaya