The lowdown on the Russian Ruble
Economical Influences on the Russian Ruble Exchange Rate
If you are considering converting AUD to RUB, it is good to get a snapshot on how the economy may influence the Russian exchange rate.
The Russian Ruble is the 17th most-traded currency in the world and after the British pound is the oldest national currency in the world.1
Since the collapse of the Soviet Union, Russia’s economy has moved from a centrally planned economy towards a market-based system.2 As one of the world’s leading producers of natural gas and oil, Russia’s economy depends heavily on the movement of commodity prices worldwide. With an average growth rate of 7% between 1998 and 2008, Russia’s economic growth rate has slowed down in recent years.2
Due to falling oil prices and international sanctions, Russia experienced a recession in 2015, with its GDP falling by almost 2.8%. (2) Since then, global demand has picked up, however Russia is exploring new ways to diversify their economy, away from commodity based reliance.2
Russian Ruble Historical Exchange Rate /span>
The RUB has seen immense fluctuation over the last 10-year period against the NZD.3 On 1 May 2009, 1 NZD was buying approximately 18.73 ruble; fast forward to 16 February 2016 1 New Zealand dollar was buying around 52.67 ruble.
26 May 2014 the NZD was worth around 29.15 RUB, however only a few months later on 18 January 2015 that figure had plummeted to 50.69342 RUB per NZD.3
By 19 November 2015 the RUB had improved slightly, with 1 NZD now buying around 42.00508 RUB.3
Stabilising for some time, by 13 October 2016 the NZD was worth around 44.71 ruble, with the RUB improving more over the following months to 39.26900 RUB per NZD on 11 May 2017.3
As of 18 January 2019 1 NZD was buying around 44.90 RUB.3