Russian ruble

Currency is a medium of exchange for goods and services replacing the older barter system. In the older times, the exchange between goods and services had no proper foundation for valuing the traded goods and services. It is essentially money issued by the government and is an acceptable form of payment. The modern currency comprises paper and metals in the form of bills and coins. On their own, they are insignificant. The issuing authority and institutions that accept it provide the value; hence it is considered more stable. Countries have developed their currencies over the years based on th

Conversion rate is the ratio between two currencies defining the value of one currency to the other. It is useful in foreign exchange markets for trading purposes, hence why it often fluctuate The supply and demand of the currency dictate the conversion rate. That is why institutions such as the governments or the central banks implement policies to inflate or deflate the rates by increasing or decreasing the country's money supply.

ClearTax currency converter will convert between all major currencies using the live exchange rate. With this converter, you can easily convert around 160 world currencies.For converting, simply enter the desired amount and select the source, destination currencies. The tool will automatically show you the converted amount and the historical exchange rate chart for the selected currency pair.