Currency: Russian ruble.

The modern version of the Russian ruble appeared not so long ago, in 1993. Since then, the banknotes' appearance has undergone constant changes and counterfeit protection has been improved.

This currency is not freely convertible, but it can be easily exchanged for other currencies in many countries. The ruble is particularly popular in the former Soviet Union, due to close economic and ethnic ties.

The Central Bank of the Russian Federation is responsible for ensuring the stability of Russia's national currency. It sets the boundaries of the exchange rate corridor for the floating ruble exchange rate and, if these limits are breached, intervenes on the currency exchange.

The ruble's exchange rate is influenced by the state of the economy and the political situation in Russia and surrounding countries.

The ruble is a relatively unstable currency and reacts sharply to most news events.

Ruble on Forex.

Trading the national currency always has a number of advantages, as you're at the center of the action and can easily analyze the surrounding realities.

Until recently, the Russian ruble wasn't a currency listed on Forex. Due to low liquidity, brokers struggled to organize dealing processes, resulting in spreads that exceeded all reasonable limits.

The situation has improved significantly; the USD/RUB and EUR/RUB currency pairs are now available at many Forex brokerages , reducing spreads to 20-30 pips and making ruble trading more feasible.

This spread virtually eliminates the use of this instrument in scalping strategies , but it still allows for profits thanks to the currency's instability. Sharp price fluctuations can net traders hundreds of pips in just one trading session.