Kopeck in the context of "Economy of Russia"

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⭐ Core Definition: Kopeck

The kopeck or kopek is or was a coin or a currency unit of a number of countries in Eastern Europe closely associated with the economy of Russia. It is usually the smallest denomination within a currency system; 100 kopeks are worth 1 ruble or 1 hryvnia.

Originally, the kopeck was the currency unit of Imperial Russia, the Russian Soviet Federative Socialist Republic and then the Soviet Union (as the Soviet ruble). As of 2020, it is the currency unit of Russia, Belarus and Ukraine. The Russian kopeck is also used in the two breakaway states of Abkhazia and South Ossetia. Transnistria, another breakaway state has its own kopeck. In the past, several other countries influenced by Russia and the Soviet Union had currency units that were also named kopecks.

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Kopeck in the context of Soviet ruble

The ruble or rouble (/ˈrbəl/; Russian: рубль, romanized: rubl', IPA: [rublʲ]) was the currency of the Soviet Union. It was introduced in 1922 and replaced the Imperial Russian ruble. One ruble was divided into 100 kopecks (копейка, pl. копейкиkopeyka, kopeyki). Soviet banknotes and coins were produced by the Federal State Unitary Enterprise (or Goznak) in Moscow and Leningrad.

In addition to regular cash rubles, other types of rubles were also issued, such as several forms of convertible ruble, transferable ruble, clearing ruble, Vneshtorgbank cheque, etc.; also, several forms of virtual rubles (called "cashless ruble", безналичный рубль) were used for inter-enterprise accounting and international settlement in the Comecon zone.

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Kopeck in the context of Belarusian ruble

The ruble, rouble or rubel (Belarusian: рубель, romanizedrubieĺ; Russian: рубль, romanizedrubl'; abbreviation: Br, ISO code: BYN) is the currency of Belarus. It is subdivided into 100 kopecks (Belarusian: капейка, romanizedkapiejka, Russian: копейка, romanizedkopeyka).

The exchange rate of the Belarusian ruble is determined based on a basket of currencies consisting of the Russian ruble (with a weight of 60%), the US dollar (with a weight of 30%) and the renminbi (with a weight of 10%). The euro was part of said currency basket but was excluded in December 2022 due to a decrease in the volume of trade between Belarus and the European Union.

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