The apex bank in Russia will commence the testing of a digital ruble in 2022. This is according to a report from the Bloomberg terminal that quotes the Head of the Russian Central Bank Elvira Nabiullina. The first feelers of the Russian Central Bank moving in this direction came in […]
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 Central Bank of Russia (CBR) has hiked its key interest rate by 50bps to 5.00%, in a hawkish move that beat the market expectation of a 25bps hike. Citing higher inflationary pressures and expectations of a return to the CBR’s inflationary target in 2022, the CBR took action to […]
The USD/RUB, which has been seeing some increased volatility as a result of the impasse on sanctions between the US and Russia, will once more be in focus as the Central Bank of Russia (CBR) meets to decide interest rates. Analysts at MUFG Bank think that the CBR will raise […]
The USD/RUB is up sharply this Thursday, gaining as much as 1.37% on the day after the US government aid it would apply new sanctions on Russia for cyber activity considered to be malicious and alleged interference in US elections. Relations between the US and Russia have degenerated since the […]
The Central Bank of Russia has raised its key interest rate by 25 basis points to 4.5% in a surprise move. The market consensus was for the bank to hold steady at 4.25%. The surprise hawkish move has added some support to the Ruble, which has now gained 0.29% versus […]
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% […]
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 […]