RUSSIA STOPS ISSUING 1-RUBLE COINS

Inflation has not been kind to the Russian ruble. One ruble is currently valued at a single U.S. cent at official international exchange rates. As of October 25, Russia’s central bank estimated annual inflation to end 2024 at between 8–8.5%. This is a higher forecast than July’s 6.5–7% percent forecast. It currently costs 135 rubles to purchase a McDonald’s Big Mac in Moscow. A carton of milk costs between 80 and 100 rubles. A carton of eggs costs between 70 and 100 rubles, while a loaf of bread is priced between 40 and 60 rubles. In other words, a single ruble isn’t worth much. For that reason, the Central Bank of the Russian Federation recently decided that Russia will print paper ruble bank notes for cost-saving purposes rather than strike…

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World Coin News (Digital) - 1 Issue, January 2025

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