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Thinking of trading EUR/RUB?

    1. Much of the country's economic growth relies on energy revenues thanks to Russia's abundance of natural gas, precious metals and oil. 30% of the world's supply of natural gas comes from Russia, so if the prices fluctuate there, it will affect the rouble, this is to be an upward momentum for the following year. So it is a good time to enter trades involving this currency. 2. Service industry marks number one in Russia' economy, making up to 60% of the nations GDP, again, reinforcing the stability of the rouble.
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How would you like to trade EUR/RUB?

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Trading CFDs involves significant risk of loss

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Trading CFDs involves significant risk of loss

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Trading CFDs involves significant risk of loss

Russian ruble or rouble is the currency of the Russian Federation. The ruble is subdivided into 100 kopeks and it was previously the currency of the Russian Empire and of the Soviet Union, in the latter being called the soviet ruble. Today on the other hand, Russia, Belarus and Transnistria are the only ones who use currencies with the same name. Being that it was decimalized in 1704, the rouble marks the world's first decimal.The Euro/Ruble is the second most popular pair to trade the Russian currency, following the USD. There is no official symbol for the Ruble. Russia is the R of the four BRIC emerging markets and the eighth largest economy of the world. The Euro currency was created in 1990 to make an economic monetary union aiming to mitigate the risks involved with cross border transactions. However, it was only in 2002 that the currency was introduced in physical form, before this it was pegged with the national currencies at a fixed exchange rate.Russia is one of the world's leading oil producers since 2011, and the Ruble is therefore exposed to changes in global energy prices. The Russian economy is both a high growth one and exposed to changes in the global financial markets, which is why it was hard hit by the crisis in 2008 and 2009.

1. If there are price fluctuations in global oil and other natural energy resources, other than natural gas, it will likely have an effect on the rouble, since the country is very dependant on the health of the energy industry. 2. Global demand for machinery and consumer goods will also affect on the currency, together with monetary policy decisions from both the ECB and CBR. 3. The Russian economy has been under constant stress since 2014. The Kremlin's tough policy on a number of geopolitical issues and the constant threat of new sanctions reduce the investment attractiveness of the region. Such processes are usually followed by the weakening of the national currency.

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