Russian Ruble

RUB

  • Convertible: Yes
  • Transferable: Yes
  • Exchange rate regime: Floating
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Available Currency Pairs

EURRUB

Ansehen EUR

USDRUB

Ansehen USD

GBPRUB

Ansehen GBP

CHFRUB

Ansehen CHF

AEDRUB

Ansehen AED

AUDRUB

Ansehen AUD

CADRUB

Ansehen CAD

CZKRUB

Ansehen CZK

DKKRUB

Ansehen DKK

HKDRUB

Ansehen HKD

ILSRUB

Ansehen ILS

JPYRUB

Ansehen JPY

MXNRUB

Ansehen MXN

NOKRUB

Ansehen NOK

NZDRUB

Ansehen NZD

PLNRUB

Ansehen PLN

RONRUB

Ansehen RON

SEKRUB

Ansehen SEK

SGDRUB

Ansehen SGD

THBRUB

Ansehen THB

ZARRUB

Ansehen ZAR

Transaction Types

FX SPOT
Delivery date: T+1; T+2
Liquidity: high
FX FORWARD
Maximum maturity: 12 months
Liquidity: high

Did You Know?

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Monetary policy

  • The Central Bank of the Russian Federation (CBR) implements monetary policy under the inflation targeting regime, its main aim being to ensure and protect the ruble exchange rate sustainability by maintaining price stability.
  • Price setting method: At present, Russia employs a floating exchange rate mechanism, which means that the exchange rate is set by the market. However, it is assumed the CBR continues to monitor closely the exchange rate of RUB versus the most important global currencies and may intervene if deemed necessary.
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Features and highlights

  • Since the fall of 2014, EURRUB has started an extremely volatile route, leading to a sharp depreciation of the RUB, bringing to a level 40% below where it was in September 2014.
  • The RUB exchange rate is very often driven by geopolitical events, whereby tensions between Russia and the West often lead to sharp declines in value of RUB. Next to geopolitics, RUB value is also driven by developments in the energy markets.
  • As many market makers hedge positions on Micex (Moscow Exchange), market liquidity is very dependent on their opening hours.
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Expert opinion

  • For short-term fluctuations, keep a close eye on political tensions involving Russia, as they usually signal RUB weakness.
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Regulations

For short-term fluctuations, keep a close eye on political tensions involving Russia, as they usually signal RUB weakness.

Important Information

PAYMENTS IN RUB TO RUSSIA

To process payments in RUB via the SWIFT network, we might need the information below:

BIC Code with correspondent account number or domestic BIK. BIK - Domestic Bank Identification Code of the beneficiary bank.

NN - Registration Number in Tax authorities, not mandatory for individuals.

KIO - Registering number that can be used instead of INN for foreign entity holding an account in Russia

VO code - Currency operation code Purpose of payment.

VAT - Value-Added Tax. It should be mentioned if the payment includes or excludes VAT.

Keep In Mind

PUBLIC HOLIDAYS

New Year’s Day 1 Jan
Defence of the Fatherland 23 Feb
Spring & Labour Day 1 Mai
Russia Day 12 Jun
Orthodox Christmas Day 7 Jan
Women’s Day 8 Mär
Victory Day 9 Mai
Unity Day 4 Nov

When a holiday falls on a weekend, the next business day becomes a holiday

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Currency Reference Guide

Get the full currency reference guide, updated by the iBanFirst currency market experts

Reference guide

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