Russia picks official symbol for ruble

On December 11, 2013, the Russian ruble got an official symbol. In 2014, the Bank of Russia board is planning to issue 100 million 1-ruble coins with the new logo, the Cyrillic letter “P” crossed by a horizontal strip, on them. Besides, the investment and commemorative coins are expected to be minted. In addition, Elvira Nabyullina, the central bank chairwoman, stated that the new symbol might appear on the banknotes as well. Perhaps, the Russian bills will be rebranded in the nearest future. The regulator has not announced yet whether the paper money will change its image or the new sign will blend in the current bills design. The design of the commemorative 100-ruble banknote, which was issued three months before the 2014 Sochi Olympics, is radically different from its older counterparts. Unlike the previous models displaying historical monuments of Russia, the new note has a snow boarder performing a trick. Besides, it is vertically oriented. The official symbol was determined through the open public online voting, where four other contenders were competing for the title. The logo, which was created by Art. Lebedev Studio in 2007, won by a clear margin with 61% of votes. It is worthy of note that many Russian and foreign companies have been already using the emblem. From now on, it has an official status.