Russian Ruble Continues Decline on Oil Prices

November 20, 2008

Ruble struggles on FX marketThe Russian ruble has begun to depreciate on the FX market, with some help from the government. But external forces aren’t helping the place of the ruble in currency trading much, either.

One of the biggest factors affecting the Russian ruble in forex trading is the fact that oil prices are falling. Much of Russia’s wealth is based on oil, and with the global recession curbing demand, it is no surprise that the ruble is falling as well.

See Also

• More on the Russian Ruble and the FX Market
  Ruble in currency trading
• Trading Currencies on the FX Market
  Major and minor currencies in forex trading

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