Moscow Travel Forum

just need some info on russian currency. i'm going be helping out a friend in E Russia with some funds (cash). ok, on currency conversion, i see that 1000 US dollars convert to - 31305 RUB (rouble). so, my question is.. is that alot in RUB? and also, based on current russian economy, would that go along way for someone who's in their early 20's, going to school, working, has their own car.. has living expenses, etc.? so , yeah, just basically wanting to know is 31305 RUB alot, and would my friend be able to stretch that out a little? i know they are good with money, and responsible.. just asking these questions to get an idea. and the $1000 is not a set in stone number.. i may decide to send a little more. just depends on the input i get ;)

thanks much! Rob

BTW, on the currency converter page, it states...

'Please note: The exchange rates given are 'bank rates', high street rates may be subject to commission'

can someone explain this to me? thanks!, Rob

Be aware,do not exchange money in the streets at small kiosks,them might be a fraudsters,they could give you forge notes."Commision" means you must pay them an interest for your exchange.Don't use those exchange points,because they are greedy bustards.The suggestion is:get exchange at respectable banks or they licenced kiosks.For example:Bank of Moscow etc.
31000 rouble is a respectable amount of money if you spend them outside Moscow,cause earnings and spendings in Moscow 5-10 times higher than in the outer country.Russians say "Moscow is not Russia".$1000 or 31000 roubles look in Moscow not so bad and similar like everywhwere,but prices in Moscow could be absolutely crazy and groundless,so you could find a place where a cup of coffee costs $20.There's no financial regulator for wild Moscow "capitalists".
The average salary in Russia is about 12-15 thousand roubles,often less.Prices are high.Higher,then in Western Europe or US.Young people owning cars,but not too many of them.The ratio rich/poor is unacceptable as economists say:about 27 times.Some managers at big corporations have 500000-1000000 roubles monthly salary,and theyr workers earn 10000-15000 roubles monthly.Average flat expences are 2000-3000 RUR(2-3 bedroom)as you pay for gas,water,cable tv etc.1 liter of petrol is 20 RUR,a loaf of bread is 14-18 RUR, 1 kilo of meat is 200-300 RUR.Milk is 21-27 RUR.About your querry:everything depends on an particular region.Some regions are poorer and other a little bit richer.And I would say $1000 a month is still a good amount if you stay outside of Moscow.

thanks for responding! i'll most likely be using a local bank here in the S US to wire or transfer the funds.. so i'm guessing they would be able to answer some of my questions. but i'll ask you a couple here anyway.. when the funds are wired or transferred from here to my friend, will their banking institution automatically convert it to rouble for them, and also like you mentioned, they'll no doubt have to pay a fee for the conversion right? and have any how much?

my local bank will no doubt set me straight, suggest the best means of transfer. but just your opinion... what is probably best. direct transfer, cashiers check..? or does that not really matter, and just a personal preference?

thanks

...and just mentioned cashiers check option off top of my head, i know there's several means of wiring transferring funds.. just looking for opinions, best options! =)

Make money tranfer from your bank account to her(his) bank account.Beneficiary in Russia has to open so called 'universal' bank account for dollar/euro currency at Russian Savings Bank-SBERBANK.Your friend in Russia has to send you his full and proper name as in passport,account number,full name of bank,adress of bank,number of that bank branch,SWIFT code of bank,his(her) full postal adress.That's it!
Then you fill in a form at your bank (money transfer abroad),the name of that form could be 'paylink','interpay' or something similar like that.Fill in beneficiary details,amount to be transfered,do not forget,if there is an option 'details of payment' to show 'financial support' otherwise they could ask to pay income tax for money received.In case if you send from account to account,sending fee is $ 15-20 for each transfer.I used this way a lot of times.
Works good.If you use Western Union or other companies like,you must pay $ 100 or more for each money transfer. Cheers,Rob! Alex

P.S. If you have sent money in $ your friend will receive the same $ if he(she) has 'universal' foreign currency account at his SBERBANK branch.Then,if he(she) wants,that's no problem to exchange money in local currency.

PPS.SBERBANK could charge you for some interest for money exchange,I would suggest withdraw money from account in $,then to find other bank with no interst exchange and use that bank to exchange dollars in roubles.

Hi Rob!
Agreed to Alex.
1000 dollars are not big but good for gift (help) to your Russian friends any way.
About bank transfer: ask your friends about their payment account instruction. If they have only ruble bank account (card bank account) – (you can’t send them US dollars) you have to change US dollars to Russian rubles and then send. If your friends have USD (multi currency) account – send them USD. All fees (changing, transferring) are yours. Transfer from one bank account to another bank account is the best.
If your friends don’t have any bank accounts – use only Western Union way. It’ll be expensive but quick. Ask your friends what is the next door bank or branch to them which has Western Union service.
Good luck.
P.S. Yes, of course, money is universal gift but you can send them material gift using Amazon.com or so on.

In the case she need urgent financial support, 1000 usd for the girl with personal car and job is not the matter of survival. If it's a gift - may be you'd better spend this money for real gift? There are a lot of Internet shops with delivery serivce. I have a lot of female friends in their 20-s working themselves and considering the offer of their BFs: "take this money, dear, and buy something for yourself" as a neglecting. Of course if this "friend" is not a scammer who need urgent aid for "medical treatment of her beloved old aunt, mommy, younger sister etc". :-\

sorry i didn't answers above... but USD 1000 is a lot of money here and you easily get it from ATM anywhere. I think for me, with a week in the job and a weekend with some in cinema or smth... USD 1000 sounds is very good... for Moscow the official statistic said the annual salary for month is RUR 30000 about and it is USD968...it's a real big account of money. and if you go to regions it is a lot of "a lot" :-)) so USD 1000 is great money here.... but take care of hotel rate that sometimes is USD 200 per night...
welcome :-)

thanks so much guys! you all have helped so much. and i've been to by local bank, and it won't be a problem. they explained about exchange rates etc.

and he gift idea is a great idea.. but they could really use the cash right now. i'll probably make it like 1200-usd in the end, end decision.

again thanks so much for the info! it's really important to me to lend a hand here, and it's all my doing, idea etc.. no scam or anything from their end, and they didn't ask me for anything.

have a great weekend everyone! Rob

Good luck, Rob !

cash? why? if the bank account is in USD you may get the USD cash in any ATM without any loss in the exchange rate...