USDRUB Live Chart, Exchange Rate & Analysis | Trade USDRUB

Interesting facts about the USDRUB (US Dollar to Russian Ruble)

The Russian ruble is the official currency of the Russian Federation. It is also used as legal tender in Abkhazia and South Ossetia. The domestic currency of Russia was first standardized to 28 grams of silver by Peter the Great in 1704. The standard was reconsidered in 1885. The silver ruble was a monetary unit and major payment instrument, while banknotes were only used as a supporting instrument during the reign of Nicholas I.

The domestic currency was quite strong until the 1917 Russian Revolution. After the fall of the Soviet Union, the ruble suffered enormous devaluation. New notes that reflected the change were printed in 1993. The new ruble was printed in January of 1998 and replaced the old one at a rate of 1 new Ruble = 1,000 old Rubles.

The Central Bank of Russia mints gold coins of a 10,000-ruble denomination every year. Each coin consists of a kilogram of gold. That means that the coin costs much more than its nominal value. Although the coins are not used as official means of payment, they can be used as such.

The US dollar is the official currency of eight countries, including the USA, Ecuador, Micronesia, El Salvador, East Timor, the Marshall Islands, Palau, and Zimbabwe. Although some countries claim they don’t accept the US dollar as a means of payment, it is unofficially accepted. In most cases, the American currency can be exchanged illegally at a higher rate compared to the official central bank rate.

The USD/RUB rate is often affected by the political issues between both countries. As both the USA and Russian Federation are major political actors, worsening of international affairs between the states can lead to the rise of the price volatility of the USD to RUB pair.

The best time to trade the USD to RUB is from 10:00 to 18:45 (GMT+3, indicated in LiteFinance trading platform) when the Moscow Exchange is open.