Crimea: The ruble is the only legal currency, the hryvnia is considered foreign

As of today, only the Russian ruble is in circulation in Crimea, while Ukrainian hryvnias will be considered foreign currency.

The Russian ruble became the official currency of Crimea immediately after joining the Russian Federation on March 21, but the hryvnia was also in circulation.

In accordance with the law signed by Russian President Vladimir Putin on May 27, the ruble is now the only legal currency for cash and non-cash transactions of individuals and businesses on the territory of Crimea and in Sevastopol, "Voice of Russia" reminds.

Previously, it was proposed that the hryvnia would be in circulation in Crimea alongside the ruble until 2016, but in April, the Crimean authorities passed a decision that the period of use of the Ukrainian currency in Crimea would be limited.

The first vice-president of the self-proclaimed republic of Crimea, Rustam Temirgaliev, said at the time that the decision was made because Ukraine is on the verge of a non-investment grade credit rating, due to which the value of the national currency is falling and trade networks have to constantly change prices.