The Russian ruble is traded around the clock in the interbank market. On the Moscow Exchange, it trades from 7 a.m. to 11:50 p.m. local time, although trading hours were temporarily shortened in early March. These hours correspond to the most active phase of the foreign exchange market. Prices in the interbank market generally mirror those in the Moscow Exchange. However, since the Russian invasion of Ukraine, the two markets have diverged.
The USD/RUB combination links the United States with Russia and is highly influenced by the correlation of these two economies. This makes USD/RUB unpredictable and unsuitable for inexperienced investors and traders. In addition, the USD/RUB is largely affected by the monetary policies of both the US Federal Reserve System and the Russian Central Bank.
The US dollar is the most widely traded currency in the world. Its issuer is the Federal Reserve System, also known as the Fed. The Russian ruble is the currency of the Russian Federation and is issued by the Bank of Russia. However, unlike the USD, the currency’s value does not rise as much when the US dollar does.
The Russian ruble has experienced unprecedented volatility in recent months. A series of international sanctions have affected the country’s financial markets. In December, the Central Bank of Russia announced it would raise its interest rates, resulting in a sharp depreciation of the currency. The Russian finance ministry also declared that it was prepared to sell $7 billion worth of foreign currency, which sparked a panic in the market.
