If you’re planning a trip to Moscow or just curious about how things are working over there right now, the short answer is simple: the Russian ruble (RUB) is the only legal tender. But honestly, the "how" of using money in Russia has become a bit of a puzzle lately.
Forget what you know about swiping your Visa or Mastercard. Since 2022, those shiny plastic cards from Western banks are basically coasters once you cross the border. You can’t tap-to-pay with your iPhone, and your favorite travel credit card won’t even get a blink from an ATM in St. Petersburg.
As of early 2026, the ruble is holding its ground in a weirdly isolated bubble. While the world expected it to crumble, it’s currently trading around 78 rubles to 1 US dollar. But don’t let that stability fool you—getting your hands on those rubles as a foreigner requires a bit of a "boots on the ground" strategy.
What Currency Does Russia Use? Meet the Ruble
The ruble has been around for centuries, but the version you'll hold today is the "New Ruble," introduced after the 1998 redenomination. It's divided into 100 kopeks, though you'll rarely see those tiny coins anymore because inflation has made them almost worthless for daily coffee runs.
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When you’re walking around a Russian supermarket or a gift shop, you’ll see prices marked with the symbol ₽. The banknotes are actually pretty colorful and feature various cities. You might get a 50-ruble note showing St. Petersburg or a 2,000-ruble note featuring the Vostochny Cosmodrome. Fun fact: the Central Bank just recently updated the 1,000-ruble note to feature the Palace of Farmers in Kazan, keeping the classic turquoise vibe but with a fresh look.
The Cash-Only Reality for Travelers
If you’re arriving from the US, UK, or Europe, you’ve got to bring cash. Crisp, clean, "straight from the bank" 100-dollar bills or 500-euro notes are your best friends.
Why? Because Russian exchange offices are incredibly picky. If your bill has a tiny ink mark, a small tear, or even just looks too "wrinkled," they might reject it or give you a terrible rate. It’s kinda stressful, but that’s the game right now. You land, you head to a legitimate exchange booth (avoid the airport ones if you can; their rates are daylight robbery), and you swap your "hard currency" for a stack of rubles.
The Mir Card: Russia’s Answer to Visa
Since Western networks pulled out, Russia doubled down on its own system called Mir (which means both "world" and "peace").
Most locals use Mir cards for everything. It’s a domestic system that works flawlessly inside the country. If you’re staying for more than a few days, some travelers actually find it easier to open a local bank account. You can walk into a bank like Sberbank or Tinkoff with your passport and a migration card, and they can often issue you a debit card on the spot.
Once you have a Mir card, you can use Russian apps for taxis (Yandex Go) or food delivery, which is way more convenient than fumbling with paper bills in the back of a car at 2 AM.
Is the Digital Ruble a Real Thing?
You might have heard whispers about a "digital ruble." It’s not a myth. As of January 2026, the Russian government has officially started using the digital ruble for certain budget payments and social security payouts.
The Central Bank is planning a much wider rollout for regular people by September 1, 2026. Basically, it’s a Central Bank Digital Currency (CBDC). It’s not crypto—it’s just a digital version of the ruble held in a special wallet at the Central Bank. For a tourist, you don't need to worry about this yet. Stick to the physical notes or a local debit card.
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Paying for Stuff: What Works and What Doesn't
Let’s break down the "can I use this?" list because it's the most common source of confusion.
- Foreign Visa/Mastercard: Absolutely not. Doesn't matter if it's from a tiny bank or a giant like Chase.
- Chinese UnionPay: This is a "maybe." Some cards issued outside Russia work at certain ATMs and shops, but it’s notoriously hit-or-miss. Don’t bet your dinner on it.
- Apple Pay / Google Pay: Stone cold dead in Russia.
- Cash (USD/EUR): Yes, but only to exchange into rubles. You generally can't pay for a hotel or a meal directly in dollars.
- Cryptocurrency: It's a gray area. While many locals use USDT (Tether) to move money in and out of the country through P2P (peer-to-peer) platforms, it's technically prohibited as a direct payment method in shops.
The Exchange Rate Rollercoaster
The rate you see on Google isn't always the rate you get on the street. Currently, the Central Bank sets an official "fix," but exchange offices might have a spread of a few rubles.
As of mid-January 2026:
- 1 USD gets you roughly 78 RUB.
- 1 EUR gets you roughly 85 RUB.
- 1 CNY gets you roughly 11 RUB.
The ruble has actually been surprisingly strong lately, mostly because the Russian Central Bank keeps interest rates sky-high (around 16.5%) to stop people from dumping the currency.
Practical Steps for Your Trip
If you're actually heading there, don't wing it. You’ll end up stuck with no way to pay for a hotel.
- Bring "Mint" Cash: Go to your local bank before you leave and ask for the newest, cleanest USD or EUR bills they have.
- Declare your cash: If you’re carrying more than $10,000 (or equivalent) in any currency, you must go through the Red Channel at customs and declare it. If you don't, they can seize the whole lot.
- Get a local SIM: You’ll need a Russian phone number to use bank apps or taxi services if you decide to get a local card.
- Download Yandex Go: It’s the Uber of Russia. You can set it to "cash" if you don't have a local card, and it works perfectly.
Honestly, the currency situation in Russia is a bit of a throwback to the 90s in terms of cash reliance for foreigners, mixed with futuristic tech for the locals. It’s a weird vibe. Just make sure you have enough physical paper to last your whole trip, plus a 20% "just in case" buffer, and you’ll be fine.
Actionable Insight: Before you fly, check the latest exchange rates on the Bank of Russia (CBR) website or Trading Economics. Once you land, use a local app like Banki.ru to find the exchange offices in your city offering the best "buy/sell" rates so you don't lose 10% of your budget to a bad spread.