Currency converter

US Dollar vs Russian Ruble
56.428 USD
23 May 2017 13:45
Price Change (% chg)
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What does the US dollar against the ruble exchange rate depend on?

The USD/RUB currency pair is one of the most popular trading instruments among traders in Russia. The US dollar against the ruble exchange rate shows how much Russian rubles you should pay for one dollar. The USD/RUB currency pair always reacts to the changes in the US dollar and the euro rates. Besides, the oil and gas prices also influence the dynamic of the pair, as the ruble is one of the commodity currencies. The USD/RUB pair has high liquidity. The major peak of volatility is during the European and New York sessions.

The Russian ruble is a national currency of the Russian Federation. This currency is used for settlements on the territory of Russia and of some unrecognized and partly recognized states.

What does the US dollar against the ruble exchange rate depend on?

The official dollar exchange rate is calculated and set by the Russian central bank based on the USD/RUB quotes in the interbank domestic foreign exchange market. That is done according to the methodic of setting the official cash rates for foreign currencies against the ruble, which is confirmed by the central bank. Thus, the US dollar official rate for tomorrow is set by the central bank daily except weekends. The rate is set at 11:30 Moscow time on a trading day in accordance with the average value of exchange rate in the exchange market.

Good to know:

The foreign exchange trades were held as auctions at the Moscow Interbank Currency Exchange in the period from 1992 to 1998. During that period a single ruble exchange rate against the US dollar and the Deutsche mark was used.

Nowadays a lot of different factors influence the dynamic of the exchange rate:

  • Inflation rate
  • Trade balance
  • Difference between interest rates in different countries
  • Activity in the forex market and speculative exchange operations
  • The degree of usage of the certain currency in the European currency market and in international payments.
  • Leads and lags
  • The degree of confidence in the currency
  • Foreign exchange policy directed either to the rise or to the decline of the exchange rate
  • Goals of the currency and economic policy.

However, other factors can also have a great impact upon changes in foreign exchange rates. It is impossible to forecast what exact news can provoke fluctuations in the market and whether the rate will bring the biggest profit. But it is important to remember that if the currency changes are not due to some economic news, such movements will be temporary.

At the moment changes in the dollar against the ruble rate, which we can monitor on the online chart, are caused by internal factors as well as by external factors. The major external factor is the oil price, as Russia exports oil. That is why the Russian currency depends directly on the oil price. If the global oil prices rise, the national currency strengthens and therefore the dollar against the ruble rate declines.

The dollar rate against other major currencies is also important for analysis of the USD/RUB pair. In particular, if the dollar weakens against the euro, then it will decline against the ruble too.

The internal factor is the domestic demand for the currency. For example, if there are downward movements at the exchange, then investors usually shift their attention from shares to the US dollar, which is more reliable asset. As a result, demand for the currency grows as well as the exchange rate. It is often opposed by currency interventions done by the central bank.

The political and economic situation in Russia also influences the ruble. In the period of breakdown, confidence in the local currency weakens, and people begin to exchange their savings into more reliable asset according to their view – into the US dollar.  In its turn, higher demand for the dollar causes rise in the US dollar against the ruble exchange rate.

This is useful:

Using our forex services, you can conduct analysis of the USD/RUB dynamic and determine what exchange rate set for the week will be more profitable.  In addition, you can calculate what currency is better to sell and what currency to buy on the exact day. Besides, you will have an opportunity of downloading quotes archive for the exact period of time.

Be free to monitor the dynamic of the US dollar against the ruble rate on the online chart, calculate the value of one point or the leverage with the Trader Calculator, and use online Currency converter for converting any amount from one currency into another.

The services provided on the page will be an indispensable tool for making deals on USD/RUB currency pair in the forex market both for beginners and for professionals in trading.

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