Symbolic money

The ruble will receive its own signature sign on the Russian ruble its own symbol, a special graphic image, like the leading world currencies - the dollar, the euro, the yen and the pound sterling. The bill on the introduction of a ruble symbol may be considered by the State Duma in the already beginning spring session. According to the authors of the bill, the introduction of the ruble symbol will have a beneficial effect on improving the image of the country, especially on the eve of the Russian chairmanship in the Big Eight and the Committee of Ministers of the Council of Europe. Although the appearance of a new monetary symbol will automatically not put the ruble into a number of the most important world currencies, it has good chances to become freely convertible.

The initiative to give the ruble its own graphic image was made by Pavel Krasheninnikov, chairman of the State Duma Committee on Civil, Criminal, Criminal, Arbitration and Procedure Law. He prepared the appropriate amendment to the Civil Code of Russia. According to the amendment, the ruble has a special designation in the form of a sign, which is approved by the President of the Russian Federation. "The approval of a specific graphic image denoting the ruble in this bill is attributed to the competence of the President of the Russian Federation, which is due to the high significance of this issue from the point of view of both domestic and international policy of Russia," the deputy told the newspaper. The terms in which the president must introduce this image are not stipulated in the bill, so that even after the adoption of the law, he may well remain among the so -called “sleeping norms”. In addition, the president can introduce his ruble symbol and cancel the old one - no restrictions on this subject are provided.

Crosses and kalachi

The president will be from what to choose from. In the latest history of Russia, various competitions for such a symbol have been held more than once. True, they all were unofficial. Most of the drawings proposed to the contests beat either the letter “P” (ruble), or inverted “P” - “K”, a solid sign, Slavic “EP” - as a hint of the firmness of the currency.

There were more exotic options - pictures resembling a violin key, a flag on a pole, crosses of a bizarre configuration and for some reason a slightly modified sign of Mercedes and Kalach. According to the Central Bank, the idea of reviving the authority of the Russian national currency “certainly deserves approval”, however, the Central Bank has already affected the “PP” sign, that is, the Russian ruble, and does not see the need to replace it, the letter of external and public relations of the Central Bank, dated 2000, says.

For the ruble, change the keyboard

Krasheninnikov is convinced that the introduction of a ruble symbol will improve the image of the country and is not in one of the oldest currencies in the world to remain without its own sign. “Our currency is the only symbol that has not changed with a change in the system,” says the deputy. “Often the currency sign is a more recognizable thing than state symbols.”

The United Russia faction, to which Krasheninnikov belongs, has not yet discussed the bill. There is no government review of the bill. True, as the deputy assures, he is not needed, since his amendments do not provide for any financial costs. This is only for now. And then, if the ruble sign is nevertheless introduced, the procedure for financing expenses for its approval will be determined by the president. The new countema will have to be entered into the corresponding fonts and computer keyboards. But these relatively small expenses will pay off, because The new sign will greatly facilitate the workflow, when instead of two words “Russian ruble” it will be possible to put one icon.

Sickle and hammer

In the Duma, this idea is mainly positive. “The ruble should have its own sign, like any world currency, and the ruble is the world currency, its significance is huge, at least in the countries of the former USSR,” said Alexei Mitrofanov, deputy chairman of the State Duma Committee on Constitutional Law and State Construction. In his opinion, it is extremely important that the establishment of the ruble symbol is in the competence of the president, and not the Central Bank or the Government, which are "more susceptible to conjuncture reasons." The deputy believes that a sickle and a hammer would suit a well to designate the ruble symbol. “This sign is now free, and its introduction would be a great joy for the older generation and communists,” he noticed either as a joke or seriously.

What is a convertible ruble

According to the law “On currency regulation and currency control”, the ruble should become a fully convertible currency no later than 2007. In practice, this means a complete cancellation of restrictions on the movement of capital - to the country and from the country. Such restrictions regulated the influx and outflow of foreign capital to the Russian stock market. All funds of foreign investors were located on special accounts, and only after that they could be used within the country. This was done in order to avoid the rapid removal of foreign capital in case of financial panic. The investor did not receive any real guarantees of the reverse exchange rate for currency - after the 1998 crisis, the market of foreign exchange contracts, according to which Russian banks would guarantee the exchange rate to their partners in fact disappeared. Only the markets “for their own” were preserved - in London and Moscow. On them, “proven” large banks could guarantee the future exchange of rubles for currency at a pre -agreed rate.

But last year the situation has changed. The influx of non -resident capital has increased. The market for urgent transactions for the purchase and sale of rubles has also grown. At the same time, Russian monetary authorities reserved only the right to establish restrictions on the movement of capital, but in practice they did not resort to this right. As a result, in the second half of last year, the ruble de facto became a freely convertible currency. This is also evidenced by the dynamics of foreign investment movement, which began to sensitively respond to changes in interest rates on the world market. Formal restrictions, most likely, will be lifted this year, for example, on the eve of the meeting of the Ministers of Finance of the Big Seven countries on June 12, 2006. The Ministry of Finance managed to overcome the main barrier of resistance to the free converting of the ruble in the person of the Central Bank.

But now it is the country's budget (more precisely, its surplus) guarantees the stability of the free conversion of the ruble. The Central Bank has no such mechanisms yet.

The external conversion of the ruble will be provided by the vneshotorgbank, which will help the whole network of former foreign banks annexed to the Central Bank at the end of 2005. If the planned plans are implemented, then the ruble can become a reserve currency for those countries that are significant in turnover with Russia.

In your opinion, which symbol is best for the ruble?

Nikita Ryauzov / Deputy Head of the Investment Department of MDM Bank:

"In my opinion, the ruble of the Russian" P "or the reduction of" Rur "is most suitable. The latter is even preferable, because it is already familiar to the financial market, not only Russian, but also foreign, and foreigners will not have to get used to it."

Evgeny Egorov / Deputy Chairman of the Board of Investsberbank:

“Personally, I support the proposal of the Institute of Naziology, submitted to the Central Bank and the government in 2003, in the form of the title letter“ F ”of the Russian alphabet. The sign“ F ”symbolizes the mirror display of the letters“ PP ”, is very similar to the sign of the Russian Empire. It is similar to the coat of arms of the Russian Federation. It will not need any costs, because the letter“ F ”is in the sets of fonts of any computer World systems, and the economy of the process is extremely important. "

Alexander Ostrovsky / Lawyer:

"Symbolism is certainly necessary. It is much more convenient to write a brief designation of a monetary unit than its full name of two words and a dozen letters. I have a ruble associated with two objects: a gold chervonets and wood. Any of them can be chosen as a symbol, depending on where the country will move. Golden round - if wealth is in the opposite direction."

Valery Kartung / Independent State Duma deputy:

"The gas torch is a symbol of the imaginary financial well-being of the Russian economy, which depends on oil and gas in world markets! From here the symbol should be appropriate, but which one, I can’t come up with it now. It’s only a serious matter. It is clear that the ruble's symbol should correspond to something in the depths in the Russian people in the Russian people."

Andrey Savelyev / State Duma deputy from the Rodina faction:

“Soon there will be nothing left of Russia, and you are interested in some ruble symbols! Yes, take any squiggle from the Old Russian alphabet and declare it with a symbol. For example, the first letter from the words money, altyn or hryvnia. Hryvnia, by the way, this is not a Ukrainian coin, but an old Russian. The dime of the word has gone from that word!”

01.24.2006 / Anastasia Matveeva, Alexei Tikhonov, the material was published in the newspaper No. 10 of 01.25.2006.