• Over the long run, the gap between USD and EUR for a trip to Russia is small. Both are top currencies in the cash turnover of Moscow and Saint Petersburg banks, and both exchange at a predictable rate.
• On average, the dollar spread at Russian cash desks is a touch tighter than the euro spread. On everyday amounts the difference is negligible; on larger sums (from USD 1,000–2,000 equivalent) it becomes noticeable.
• The 200 € and 500 € banknotes are accepted in Russia more cautiously than dollar notes of similar value. That's an argument in favor of dollars if what you're carrying is mostly large denominations.
• The widget below shows current USD and EUR rates at Moscow banks — the easiest way to compare the two currencies side by side today.
• If you already hold a stash in one of the currencies, don't swap it at home into the other in pursuit of a "better rate." Double conversion will eat the gain.

Below is a detailed breakdown of the five parameters for comparing USD and EUR at Russian cash desks: rate, spread, how the cash desk accepts the notes, denomination convenience, and sanctions-and-logistics nuances.

Parameter 1: the rate

The USD/RUB and EUR/RUB rates move almost in parallel through the day — they share one fundamental driver, the EUR/USD pair on the global market. If the euro strengthens against the dollar, its rate against the ruble rises faster than the dollar's. And vice versa.

For a visitor to Russia, that means the rate isn't the main factor in the choice. When you bring your currency to Moscow, it will exchange at its own price for that day. If both USD/RUB and EUR/RUB rise in the week before your trip, both currencies will exchange at the higher rate.

You can compare current rates in the widget on this page — USD/RUB and EUR/RUB at Moscow banks are shown side by side, so you don't have to switch tabs.

Parameter 2: the spread

The spread is the gap between the bank's buy rate and sell rate on a currency. In effect, it's an "exchange fee" baked into the rate.

At Russian cash desks, the dollar spread is usually slightly tighter than the euro spread. The reasons are:

• The dollar is the most actively traded currency in the cash turnover of Moscow banks. Higher turnover means a lower risk of long storage, which means a tighter spread.
• Euros move through cash desks more slowly, especially the larger denominations. To offset that risk, the bank builds in a wider spread.

The gap between the USD and EUR spreads is typically 30–80 kopecks per unit. On an exchange of 100 USD versus 100 EUR, that's a difference of 30–80 rubles on the transaction itself. On 1,000 — 300–800 rubles. On 5,000 — 1,500–4,000 rubles. So for a tourist exchanging the equivalent of 200–500, it barely matters; for a business-size exchange, it's already noticeable.

Parameter 3: how the cash desk accepts the notes

Here the dollar has one clear advantage, and the euro has one clear advantage of its own.

Dollar. Its advantage is reach. In Russia there is a working practice of accepting practically every common USD denomination from $1 to $100. The downside — banks are cautious with older notes (issued before 2006), and you need to keep that in mind. More on this in which dollars are accepted in Russia.

Euro. Its advantage is that the differences between series are smaller (the new Europa series, issued from 2013–2019, is gradually displacing the older one without mass refusals). The downside — the 200 € and 500 € notes are accepted noticeably less readily. The ECB stopped issuing the 500 € in 2019, and Russian banks treat that banknote with extra caution.

Bottom line on this parameter: if you're carrying everyday denominations (50, 100), there's no difference between USD and EUR. If you're holding a single 500 € banknote, that's an argument for packing dollars instead of euros.

Parameter 4: denomination convenience

USD and EUR share a similar set of handy denominations: 50 and 100. In both cases the 100 is the most widely traded note at Russian cash desks. The differences are minimal.

A USD quirk: the $1 note is alive in circulation, but Russian cash desks accept it reluctantly — too much small change once you convert. A EUR quirk: the 5 € is the smallest paper note (there are no 1 € or 2 € notes), which makes a wallet of euros slightly easier to keep tidy than a wallet of dollars.

For most visitors this isn't critical — nobody hauls a stack of one-dollar bills to Russia.

Parameter 5: sanctions and logistics nuances

This one is mainly about where you're traveling to Russia from, not about Russia itself. A number of EU countries and the US have sanctions rules on exporting EUR and USD banknotes to Russia, with exceptions for a traveler's personal, non-commercial use. These rules are revised periodically, and a detailed review is outside the scope of an article for visitors from countries that have no such restrictions.

If you're coming from the CIS or Asia, there are generally no restrictions on taking EUR/USD out of your country into Russia. Bring whichever currency is easier for you to obtain at home or whichever you already hold.

Side-by-side comparison table

Bottom line from the table: on everyday amounts, USD is slightly preferable on spread, and EUR on predictability of series acceptance. On large amounts, USD wins on both fronts — especially if your bundle includes non-standard denominations.

When it makes sense to bring dollars

• When the trip budget exceeds the equivalent of USD 2,000–3,000.
• When you have a choice and no accumulated stash in euros.
• When you're traveling from a country where USD dominates retail cash currency turnover (Turkey, the UAE, parts of Asia).
• When you hold notes from older series — but check which series exactly: pre-2006 dollar notes can also raise questions.

When it makes sense to bring euros

• When you already hold a stash in euros and there's no point in a double conversion at home.
• When you're flying through the EU and taking a small share of your budget in euros for spending in Europe (it's logical to have the euros on hand).
• When you're not planning to bring 500 € notes — only 50 € and 100 € — in which case the difference between USD and EUR is immaterial for you.

When it makes sense to bring a mixed bundle

The most universal strategy. Take 60–70% of your budget in one currency (usually USD) and 30–40% in another (EUR or CNY). That way you:

• Aren't exposed to sharp moves in one of the currency pairs.
• Have a reserve if a bank refuses to exchange one of the currencies.
• Can change part "for tomorrow" in one currency and keep the rest in reserve.

The one downside: you'll need to split the currencies across separate compartments in your wallet or passport holder so you don't mix them up.

Where to check the rate before you exchange

The widget below lists Moscow banks with live rates for both USD and EUR — the most convenient way to compare the current price of the two currencies:

More on choosing a bank for a specific currency:

• Where to exchange dollars in Moscow.
• Where to exchange euros in Moscow.
• Where to exchange currency in downtown Moscow.

FAQ

Which is more profitable to exchange in Moscow — dollars or euros?

On average, the dollar spread is slightly tighter, so for the same amount a USD exchange will incur slightly smaller losses. On everyday sums the difference is negligible; on large ones it's noticeable.

Are 500 € banknotes accepted in Moscow?

Some banks accept them with an additional check, others refuse. The ECB stopped issuing the 500 € in 2019, and Russian banks treat the note with extra caution. If that's exactly what you're carrying, call the bank in advance.

Which dollars are best to bring to a Moscow bank?

Notes issued in 2006 or later, in 50 and 100 USD denominations. They're accepted almost everywhere without reservations. More in which dollars are accepted.

Can I bring both USD and EUR at the same time?

Of course. It's the most common strategy among experienced travelers. You get a reserve in case one currency is refused, and you reduce your dependence on moves in any single currency pair.

Does it make sense to bring yuan instead of USD or EUR?

If you're coming from China or Southeast Asia and already hold a stash in CNY — yes, it does. If you'd have to specially convert USD/EUR into CNY at home before the trip, that double conversion is usually not worth it. More in exchanging yuan in Moscow.

Which currency is more convenient for paying for a hotel in Russia?

Most hotels in Moscow and Saint Petersburg accept payment in rubles. Some mid-range and high-end hotels also accept Mir and UnionPay cards. Foreign Visa/Mastercard cards issued outside Russia do not work in Russia. More in cards in Russia.