From the 15th century, all of northern Transnistria was part of the Grand Duchy of Lithuania,[2][3][4][5][6] and later to the Kingdom of Poland in the Polish–Lithuanian Commonwealth (1569–1793) which encouraged the migration of peasants into the territory from neighboring populated areas (from north and from west).

During the Middle Ages, the village hosted one of seven major fairs for the Dniester-Southern Bug area (the others being Mohuliv, Dubăsari, Yampil, Silibria, Yaruga, and Vasilcău).

Before becoming part of the Russian Empire in 1793 during the second partition of Poland, the largest groups living between the Dniester and the Bug rivers were Moldavian, Ruthenian (Ukrainian) and Tatar peasants.

Outside Rașcov is located the Rascov National Park, an extensive natural landscape preserve, and an ecologically protected area.

[10][11][12] More recently, the Transnistrian separatist authorities have edited an Atlas of Transnistria, which refers to the area around Rașcov as the "Transnistrian Alps": Time, wind, and water have eroded the abrupt slopes near the village of Rașcov, having formed the limestone outliers, towering above the slopes.