The Russian Ruble is one of the most popular currencies to trade in the forex market, and is the official currency of the Russian Federation. This currency has a long and colorful history, and is the official currency of all of Russia’s political entities, including the Russian Federation, the Republics of Russia, and the Russia-Belarus Union State.
The Ruble’s volatility has long attracted currency traders, and the large number of central banks around the world with holdings in Rubles helps to add an extra level of liquidity and stability to the forex market. The Ruble typically behaves erratically in the short-term, due to its high level of speculation in the market, but many consider it a safe-haven currency and prefer it over other fiat currencies.
Plus, it’s highly correlated to other currency pairs. The Ruble is often seen as a way to hedge or diversify against potential economic or geopolitical risks in other currencies, making it a popular choice for sophisticated investors. As such, the Ruble has become one of the most widely-traded currencies in the world, attracting private and institutional investors alike.