The Russian Central Bank believes that the country’s economy will bounce back to pre-pandemic levels at the end of the year. Deputy Governor Alexei Zabotkin in his comments, also said that the monetary policy could become neutral once the economy regains potential. The bank is targeting a peak of 5.5% […]
In this section, you will find our latest USDRUB news and analysis, you will also be able to read about its history, and find a live chart for technical analysis.
While the dollar has been around since 1792, the Russian Ruble is recognized to be one of the oldest currencies in the world. It is said to have been around for 500 years and is only second to the British pound in terms of age. Belarus and Transnistria have their own currencies which also go by the same name.
What is USDRUB?
USDRUB is the financial symbol for the spot exchange rate of the US dollar and the Russian Ruble. The latter is the currency used by the Russian Federation and by the two de facto sovereign states of Abkhazia and South Ossetia.
Donetsk and Luhansk, which are separatist regions that have declared their independence from Ukraine and were assisted by Russia, also use the currency as their own.
It has gone through multiple revisions with the first Ruble being pegged to silver and then gold. World War I and the Russian Revolution also made the currency become virtually worthless amid staggering inflation. It was not until 1922 when a more robust monetary system was established.
It is managed by the Central Bank of Russia which is also called the Bank of Russia. It was founded in 1860 which was, back then, known as the State Bank of the Russian Empire.
The Russian economy and, in effect, the ruble, is sensitive to news about oil prices because the commodity is one of the country’s major exports. In fact, the decline in oil prices in 2014 contributed to the financial crisis in Russia. With that said, you can expect USDRUB to trade lower as oil prices go higher.
The currency also shares a positive correlation with the Chinese data. In November 2010, Russian and Chinese officials agreed to use their own currencies in their bilateral trading transactions and not the US dollar. This has consequently led to stronger economic ties between the two countries. You should also keep an eye out for Chinese news when trading USDRUB.
Live USDRUB Chart
The Ruble weakened against the US Dollar this Friday after the Russian Central Bank (CBR) opted to leave interest rates unchanged at 4.25%. This decision met market expectations, allowing the USD/RUB pair to rise 1% immediately after the news release. In its statement, the CBR noted that annual inflation was […]
The Ruble continues to gain traction against the US Dollar, posting 0.37% gains against the greenback on the back of rising crude oil prices. Brent crude is up 0.10% as of the time of writing, extending gains on the black gold for the 7th straight session. This has helped propel the […]
The USD/RUB has posted a steep rise on the day. TDS Securities blames the risks of sanctions from the EU and US under a new administration on the pressure the Ruble currently faces from the greenback. According to analysts at TDS Securities, the Russian currency is 16% weaker than from […]
The rise of Brent crude to $51.88 on Thursday further cements the strengthening seen in oil-backed currencies such as the Ruble, and further hounds the US Dollar into the depths of despair. Rabobank is now projecting that the USDRUB pair could hit a low of 60.8833 in 2021. The latest […]
The USDRUB pair is enjoying high intraday volatility as the US presidential elections remain inconclusive. Swinging vote totals across several vital states mean that the outcome remains undecided. Yesterday’s article on the pair had quoted a Rabobank analyst as saying that a Biden victory could pressurize the Ruble as a […]
A Biden win favours USDRUB upside. So says Rabobank. Sign up to find out more.
The Russian Central Bank kept the interest rates unchanged at 4.25% in the decision announced earlier today. Consequently, the USDRUB continued its slide, which has extended into the 6th consecutive day. The USDRUB pair has been in a downward corrective mode, boosted by slight strength in crude oil prices as […]
The recent rally in the U.S. dollar may be ready for a return to the downside and this is coinciding with key resistance against the Ruble, so a bounce may be in order for the Russian currency. The Russian economy saw a loss of -8% in the second quarter, whilst […]
USDRUB trades higher as Russian Central Bank cuts interest rates. Sign up to read about this.