Economy of Moscow

Tools:

Russian currency is the rouble. There are 100 kopecks in the rouble, and these come in small coins that are worth one, 10 and 50 kopecks. Roubles are issued in coins in amounts of one, two and five roubles. Banknotes come in values of 10, 50, 100, 500 and 1000 roubles.

In 1998, there was the Russian financial crisis, also called "Rouble crisis". Triggered by the Asian financial crisis, world commodity prices dropped and Russia's heavy dependence on the export of raw materials led to a collapse. This led to a severe economic crisis and the rouble had to be re-evaluated. Since that time, the rouble been relatively stable.

Moscow is a major economic centre within Russia and within the global economic structure. It was home to the largest number of billionaires in the world in 2008. It had also been named the world's most expensive city for foreign employees for the third year in a row. Moscow is especially expensive when compared to the rest of the country. Despite these high standards, there is a significant amount of the population that does not maintain high salaries. Many people are on fixed wages and pensions that may not top 5000 roubles a month.

Update 26/08/2010

Related articles:

Tools:

Facebook Twitter LinkedIn Pinterest WhatsApp Addthis

Recommended Partners

Keep more of your money when transferring funds overseas!

Fexco_logo

If you want to move money abroad, from Russia or to Russia for example, Fexco provides efficient and secure global bank to bank transfers and bespoke payment solutions for both business and personal clients.

Why Fexco

Fexco provides a secure international money transfer service online or by telephone with bank beating fx rates and low fees. Specialises in high-value transfers.

Faster, cheaper, safer International money transfers.
Dedicated fx dealer who will oversee your transfer from start to finish
Make payments from anywhere with our secure online platform, PayDirect.
If you prefer the personal touch, then our payments team can be contacted by phone.

Main characteristics

Fexco will help you to keep your overseas money transfer costs to a minimum.

Margin 0.6%
Regulator FCA
Fee £10 < £5K or Free > £5k
Mini £1K
Ccy All (130 currencies, incl ‘exotics’)
Services Repatriation of funds, Property, Regular payments, High Value payments, spot, online, telephone.

Get an online quote today

When you are ready to make your transfer, John and his team will be available to help you with better rates and an unrivalled service to make sure your funds are delivered securely and speedily.



Do you have comments or personal information to communicate about this article? Add your comment.


Find more definitions and general answers on expatriation issues in the Expat FAQ (Frequently Asked Questions).

Go to the Forum to talk more about economy of Moscow, overview.

Download the full digital PDF expat guide in Moscow

Download the guide: Moscow, Russia
  • See in one single booklet all the articles for a city guide for expatriates.
  • Enjoy full colour photos to illustrate each section.
  • Additionnal maps: Region, City view, Neighborhood, Street view.

  • - My Life Abroad -
    A selection of expat stories

    "A fun compulsive read!"
    J. Matcham, Amazon

    "I strongly advise people ready to live abroad to read this book!"
    Patrice, Amazon