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
Exchange rates last updated Wednesday, 16 October 2019 11:33:56 a.m. NZDT. The online exchange rates provided by this Currency Converter are intended as a guide only and should not be used for transactional purposes. All rates are subject to change from time to time without notice. Exchange rates used in-store may differ from those offered online. The Travelex online buy rate will be used for conversions from a foreign currency to the local currency. The Travelex online sell rate will be used for conversions from the local currency to a foreign currency.
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: Last month
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: 3 months
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: 6 months
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: 12 months
How to see Travelex historical rates
If you would like to see Travelex historical rates, please select one of the currencies
1. BBC - https://www.bbc.com/russian/features-36735256
2. Central Intelligence Agency - https://www.cia.gov/library/publications/the-world-factbook/geos/rs.html
3. XE - https://www.xe.com/currencycharts/?from=NZD&to=RUB&view=5Y
*The information contained in this article has been compiled by Travelex from different different external sources. The figures provided are indicative only and are there to provide an idea of the amount of travel money you may need during your trip. Travelex does not ensure the accuracy and completeness of the information shown. Nothing in this article is to be considered financial advice. Travelex Limited does not accept any liability for any loss or damage derived from any reliance on the information in this article. Travelex NZ Limted arranges for and sells Online Foreign Currency via its Online Ordering Facility. You should consider the Online Foreign Currency Product Disclosure Statement and Terms and Conditions before deciding whether to acquire the product.