EDIT
History This letter is derived directly from the Greek letter Phi (i.e. from the Greek uncial writing from which the upper case letter in modern Greek is derived).
As Slavic languages, for which the Cyrillic alphabet was developped, had no phoneme /f/, this letter was initially used exclusively in Greek foreign and loan words. Subsequently, Slavic languages began to borrow words containing this letter from other languages, too, e.g. Latin, German, French etc. Words with Slavic origin do not have the letter f (with the exception of interjections, e.g. the onomatopoeic rendition of a spitting sound тьфу \"t\'fu\" - ugh, yuck).