CIMA, CySEC, FCA UK
Top-list of FX brokers that offer accounts in Russian ruble
The Russian Ruble (RUB) has a rich history dating back to the 13th century, but it was formally reintroduced in its current form in 1992 after the dissolution of the Soviet Union. As the official currency of Russia, the Ruble is regulated by the Central Bank of Russia, also known as the Bank of Russia. The central bank plays a crucial role in issuing and managing the Ruble, implementing monetary policies to ensure stability and control inflation in the country.
For Forex traders, there's good news as many brokers offer trading accounts denominated in Russian Ruble. These Ruble-denominated accounts can prove advantageous for traders based in Russia or frequently dealing with Ruble transactions. Using the Ruble as an account currency can help save on currency conversion costs and streamline financial transactions.
It's essential to be aware of potential risks and consider proper risk management strategies when trading any currency, including the Russian Ruble. As with all financial decisions, staying informed with up-to-date information is crucial for making well-informed choices in the Forex market.
8.28
4.33
MT4MT5Deposit bonusCopy tradingECNHigh leverageSignals
Regulations
Platforms
MT4, MT5
3.08
The Russian Ruble operates under a "managed float" system, which allows it to fluctuate within a certain range against other currencies based on market forces. However, the Central Bank of Russia (Bank of Russia) intervenes in the foreign exchange market to exert some control over the Ruble's value. These interventions aim to stabilize the currency and manage excessive volatility.
Although Russia heavily relies on income from selling natural gas and oil, the Ruble is not considered a commodity currency. This is due to the central bank's active involvement in managing its value, which sets it apart from other currencies that are directly linked to commodity exports.
It's important to note that Russia has faced challenges in controlling inflation, which can affect the Ruble's stability. In the past, the country experienced periods of high inflation, with rates reaching as high as 874.2% in 1993 and 15% in 2015. Such fluctuations underscore the need for caution when considering the Ruble for long or medium-term financial investments.
For traders and investors, it's essential to be mindful of the potential risks associated with trading in a currency that can lose its value rapidly. Proper risk management and staying informed about economic developments and policies are crucial when dealing with any currency, including the Russian Ruble.
