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US DOLLAR / RUSSIAN RUBLE Trading
The USD/RUB currency pair is the most popular to trade the Russian currency. Russia is the 8th largest economy globally and is one of the four BRIC emerging markets. Also, Rusia is the world’s leading oil producer, and its currency is exposed to changes in global energy prices. The USD/RUB currency pair is very volatile, making it attractive for spread betting, but those who chose it should watch the news for any signs of manipulation.
History of USD RUB Trading
The USD dates back to 1792 when the United States Congress created the US dollar as the οfficial country’s currency. It serves as legal tender in many cοuntries, and it is the most widely used currency in the wοrld, both in circulation and reserve. The US dollar forms the majors as it pairs with all main currencies in the foreign exchange market (forex).
The Russian ruble (RUB) is the official currency of the Russian Federation, and it has been used since the 13th century. The deep history of the currency is making it the second-oldest national still in existence, behind the Great Britain pound (GBP). The Russian ruble’s exchange ups and downs rate depends on the oil prices globally as it is one of the world’s top exporters of oil and natural gas. The country has been one of the first nations to explore a central bank-backed digital currency, the CryptoRuble.
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USD/RUB Trading FAQs
When Is the Best Time to Trade USD/RUB?
When Is the Best Time to Trade USD/RUB?
While forex pairs can theοretically be traded 24 hοurs a day, there are optimum times to trade the USD/RUB whenever the currency pair is more volatile.
From 13:00 to 17:00 GMT., the USD/RUB is usually busy (GMT).
What affects USD/RUB investing?
What affects USD/RUB investing?
Many factors can affect the USD/RUB market sentiment and spot rates, such as central banks policies, the price of commodities in each country, exports of both countries, economic growth, and political stability.
Why Is the USD/RUB Currency Pair Significant to Traders?
Why Is the USD/RUB Currency
Pair Significant to Traders?
One of the strongest influences on the Russian rouble (RUB) is the price of oil because Russia is a significant producer of oil and natural gas. The economy of Russia fully depends on the price of oil, so traders should be looking at the oil futures markets when deciding which way this currency pair may go.
Where Can I Find a Trusted Forex Broker to Trade USD/RUB?
Where Can I Find a Trusted
Forex Broker to Trade USD/RUB?
As you may already know, trading via CFDs (contracts for difference) is one of the most popular approaches when dealing with currencies such as USD and RUB. While there are numerous Forex brokers out there. Try to find one that suits your needs. Such as, FP Markets, a fully regulated broker that offers all types of platforms and accounts, to suit every need.