The ruble or rouble (Russian: рубль rublʹ; symbol: ₽; abbreviation: руб or р. in Cyrillic, Rbl (plural: Rbls) or R in Latin; ISO code: RUB) is the currency of the Russian Federation. The ruble is subdivided into 100 kopecks (sometimes written as copeck or kopek; Russian: копе́йка kopeyka, plural: копе́йки kopeyki). The first Russian ruble (code: RUR) replaced the Soviet ruble (code: SUR) in September 1993 at par. In 1998, preceding the financial crisis, the current ruble was redenominated with the new code "RUB" and was exchanged at the rate of 1 RUB = 1,000 RUR.