South Africa, Russia, Brazil have together almost 500 million inhabitants, India has 1.3 billion and China 1.4 billion. Together they are home to over 40% of all Homo sapiens :) and represent about 30% of global GDP. They hold about $4.5 tn in currency reserves.
I think the Russian Ruble should continue to increase in Russia, due to the fact the FIFA Soccer World cup will be help in the next 10 week in that country. So economy is going to have positive impact. Thanks.
Whether you look at the Euro or the Rouble and compare them to the WTI then it looks all everything depends on the USD. At moment the dollar is strengthening. If I woud add the USD index then it would also be the exact reciprocity.
It's clear again. All the world depends on the USA.
At moment, however there is a bottom bbuilding in the weekly EURUSD chart which...
Is Russia Currency the Crude Oil Currency?
Russia Ruble VS Brent Crude Oil Price:
1. The Russia Currency is tightly connect to Brent Crude Oil Price.
2. Most of the time Brent Crude Oil price above the value of Russia Ruble.
3. It looks like currently the Crude Oil price is somewhat under value in Russia Ruble.