Needless to say this is a very important subject. Gone are the times when you could pay dollars for everything in Russia. You actually have to change the money now. You can do it at your hotel or at the bank but (unlike other countries) you may get a better rate when using one of the currency exchanges. Trust me, you will not have any trouble finding them. Russians also keep their savings in hard currency and change the money as the need arises so there are plenty to accommodate the needs of visitors and locals alike. You will see them on every corner, inside the shops and in the underground passages. A great number of them are open 24 hours a day. They usually have a huge sign that says "OBMEN" or "exchange" in Russian. They could also be easily identified by Ruble, $ and DM rates posted outside. These places, no matter how dinky they look, are closely regulated and safe to use. Most of them would require a passport in order to exchange your currency. Never, change the money with the shady characters looming around the official exchanges even if they offer a higher rate.
Now, you have to have the cash in order to exchange it, so you may be wondering what is the best way to bring or get money in Russia. If you are a devoted traveler checks user, you can bring those but they could only be exchanged at the hotel or the bank. Some of them may even charge you a small fee to do it. Personally, I always use my ATM card when in Russia and think that this is the safest and quickest way to get the money. Most ATM take Cirrus and Plus cards and dispense rubles or dollars, your choice.
Most prices in Russia are listed in rubles. During high currency fluctuation periods, Russian business opt for a practice of listing their prices in so called "measurement units". Curiously enough, a measurement unit always equals to the price of the US dollar.
PRICES. (in $ US, $1 buys about 30 roubles)
I often hear a question: Is Russia a cheap or expensive country to visit? Honestly, I do not know what to say. It could be both. Just a few years ago Moscow it was at the top of the list of the most expensive cities in the world. After the financial crisis of 1998 the situation changed, most of the businesses realised that they should work for middle class, but still Moscow is expensive for some things.
The most expensive is accommodation, you can get a decent luxury hotel room for not less than $350, while 3-star hotels offer their rooms for $50-$100 a night, and what you get is usually worse than what you expect for the money. There are only a few budget accommodation options in Moscow: generally you can get a crappy single for $20, and a crappy double for $30-$40. There are only three hostels in Moscow, they offer a bed in a dorm room for $16 and higher. Read more on accommodation below on this page.
The food is relatively cheap: if you cook yourself you'll fit in 50-100R ($1.7-$3.5) a day, if you go to the restaurants only, expect to spend from 100 to 300 R ($3.5 - $10) a day - of course if you're not up to the luxury stuff.
The transportation is very cheap: a ride on the metro is 5 R ($0.15), a bus, a trolley, or a tram is 4 R ($0.13). A taxi will charge 50-200R ($1.7 - $7) depending on your appearance and your ability to negotiate.
You'll have to pay more than Russians to do sightseeing. Museums and famous sights charge about $3, however there are some tricks, see in the appropriate sections of our site.
If you go partying, you can spend nothing or everything. Most of the clubs don't charge any entrance cover, however if you get to a concert expect to pay $1-$10. A drink is usually about $1-$2. A meal is about $3-$4. There are some 'high class' clubs where you'll have to leave about $30 to enter, and pay double prices in the bars.
Shopping is expensive, though there's very much variety: all the main fashion and casual wear brands are represented. The prices are about 20% higher than in Europe.
In short, expect to spend as much in Moscow as you would at any European city and if you find yourself short of funds, here is an emergency tip: Call Western Union at 797-2194 to find out the closest location or visit www.westernunion.ru/eng/root.htm
Most business establishments accept the standard credit cards, Visa, Mastercard, Amex, Discover, etc. The credit card company will usually provide you with very favorable exchange rate. Using credit cards is always a safe bet!
