What was the name of the 1998 Russian default and market crisis's currency?

The Russian ruble was the currency at the center of Russia's 1998 default and market crisis.

On August 17, 1998, Russia devalued the ruble, defaulted on domestic debt, and declared a temporary moratorium on some foreign debt payments. The crisis followed weak commodity prices, a large fiscal deficit, political instability, and pressure on Russia's currency and financial system.

Russian financial markets fell sharply, and the shock contributed to the failure of Long-Term Capital Management, a highly leveraged U.S. hedge fund. The Federal Reserve helped organize a private-sector rescue, illustrating how stress in one market could affect institutions far away.

The ruble had been introduced as Russia's currency after the Soviet Union's dissolution, replacing the Soviet ruble in the new Russian monetary system. The crisis did not mean that Russia abandoned the ruble; instead, the currency was devalued and later stabilized as economic conditions improved.