For those who are brand new to the currency of Russia, then the country’s official currency is Ruble (RUB). Banknotes are issued in denominations 50, 100, 500, 1000, and 5000 rubles. Coins come in 1, 2, 5, and 10 rubles.
The most convenient way to access local currency in Moscow is withdrawing cash from ATMs. But, as you have already known, this requires you to pay the cross-border fee.
To avoid this, many opt to exchange money at banks or money changers instead. Similar to what it is in South Korea and China, banks are the places in Russia that have the best exchange rates, compared with independent money changers. It is quite convenient as all Moscow’s banks offer currency exchange services.
It is worth a mention that most of the banks only accept the major currencies such as USD, EUR, GBP, CHF, and JPY. If yours is not among these, then you should check out UniCredit Bank as the variety of currencies they are trading is broader.
Listed below are recommended banks and money changers which are popularly known to provide good rates and services.
Image credit: A.Savin
Established in 1841 and currently operating over 16,000 branches all over Russia, Sberbank is considered as the oldest and largest bank of the country. It now controls a third of Russia’s banking system.
What Sberbank can do for its visitors is offer money transfer and currency exchange services together with convenience. Their bank branches are scattered around the city, which are easily accessible from train stations and tourist attractions.
To check their daily rates, click here.
RECOMMENDED BRANCHES
1) Sberbank Central Office
2) Sberbank branch near Moscow Hermitage Garden
3) Sberbank branch near Chistye Prudy metro station
4) Sberbank branch near Museum of Zoology
5) Sberbank branch near Park Dubki
Image credit: Emaus
VTB Bank and its subsidiaries including VTB 24 and Bank of Moscow provide travelers and tourists with a wide network of bank branches for currency exchange needs. You won’t have a hard time finding a branch of this Russia’s second largest bank as there are many of them have the locations within walking distance from public transport stations, shopping centres and tourist sites.
VTB’s daily exchange rates can be accessed from here.
RECOMMENDED BRANCHES
1) VTB branch near Skver Devichyego Polya
2) VTB branch near Turgenevskaya station
3) VTB branch near Park Pobedy station
4) VTB branch near Church of St. Gregory
5) VTB branch near Stantsiya station
Image credit: CCG International
Globex is another worth-checking-out bank in Moscow for currency exchange. What is so good about this bank is that its branch at Lotte Plaza is open to serve customers every day of the week from 10:30 to 21:30. This is a true plus point as most banks in Moscow follow office hours (Monday to Friday from 09:00 to 18:00).
Aside from this business centre, the branches at 1st Tverskaya-Yamskaya Str, 73/8 Leninsky, and 31 Novinsky boulvar are also operated on Saturday until 20:00.
GLOBEX BRANCHES IN MOSCOW
1) Globex branch at Lotte Plaza
2) Globex branch near Pamyatnik Alisheru Navoi monument
3) Globex branch near Chapaevskiy Park
4) Globex branch near Contemporary Art Gallery
5) Globex branch near Hall Napoleon
6) Globex branch Novinsky shopping mall
Image credit: UniCredit Bank
Formerly known as International Moscow Bank, UniCredit Bank is a leading bank in Russia that has a strong presence in Europe. Once enter a branch of this bank, you will recognize that they have a dedicated currency exchange counter to serve people in need of buying Rubles.
What is even better is that the variety of currencies UniCredit Bank accepts is wider than which are accepted by its counterparts. USD, EUR, GBP, CHF, JPY, CAD, DKK, NOK, and SEK are among those.
Note that a couple of brands among the recommended below are open on Saturday.
Here is the link to UniCredit Bank’s daily exchange rates.
RECOMMENDED BRANCHES
1) UniCredit Bank Headquarters
2) UniCredit Bank branch near Moscow Operetta Theatre
3) UniCredit Bank @ Zvenigorodskoye branch
4) UniCredit Bank @ Myasnitskaya branch
5) UniCredit Bank @ Yartsevskaya branch
Image credit: Evropeyskiy Shopping Mall
Independent forex shops in Moscow usually have the locations near train and metro stations as well as tourist sites. Some of them are situated inside shopping malls for the convenience of shoppers.
To find a money changer on the streets of Moscow, just look for shops with the signboards that feature the word “Обмен валюты” or “Exchange”. These shops often have an electronic board outside to show the exchange rates of the day.
Those need money exchange service at weekend can use the service of the shops at 22 Pyatnitskaya street or the money changer inside Evropeyskiy Shopping Center.
RECOMMENDED MONEY CHANGERS
1) Currency exchange shop on Tverskaya street
2) Currency exchange shop on Pyatnitskaya street
3) Currency exchange shop @ Evropeyskiy shopping center
4) Currency exchange shop @ Marshala Biryuzova street
5) Currency exchange shop @ Leninsky avenue
*Opening hours may vary. Call first before visiting.