SiamFX

Ruble Vs Oil

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10,053,800 Barrels of Oil             daily, Russia is the largest Oil             Exporter in the world

Lower oil             prices forces Ruble             lower, USDRUB             goes higher

if, $50 Oil             , USDRUB             hits 60.00 Ruble             per USD

With Ruble             FX reserves, they can either intervene their currency or influence the price of Oil             by Future Contracts.
SiamFX
2 years ago
Russia Finance Minister: Dollar Seen Below 45 Rubles With an Average Oil Price of $80/Bbl in 2015
Reply
SiamFX
2 years ago
Russia's economic development ministry estimates the economy will contract by 0.8% next year. previously estimated the the economy would grow by 1.2% in 2015.

reliance on tax revenues from the oil industry
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