If you are reading this article, it means that you have decided to trade in the Forex market and that you will be lucky in this case. It’s an optimistic mood and it’s good. But if you are not a professional yet and do not know all the details of trading, then do not cry later, that the exchange rate of the ruble against the dollar in the Forex market did not coincide with your forecast. Yes, forex is an opportunity to earn money, but it is also an opportunity to lose all your money very quickly. And to prevent this from happening to you, it is necessary to study all the basics of the forex market and trading on it: quotes, currency pairs, learn how the forex rate affects your possible earnings and much more.
Ruble exchange rate: buy or not?
If you are a beginner in trading, you may think that the currency rate of the forex dollar to the ruble – these are the figures that highlights the scoreboard of exchange offices at banking institutions. But this is not the case, because the dollar rate online forex market is not stationary, and changes every minute. You can see it on the screen of your monitor on the charts. So, the art of trading is to guess as accurately as possible how the price and behavior of a particular currency pair will change and play on a decrease or increase.
A beginner trader, since he has already decided to participate in trading on the market should understand that the currency pair dollar-ruble is not one of the main currency pairs of Forex. It, like some other pairs, is called an exotic pair. The fact is that the Russian ruble is not traded so widely on the Forex market due to insufficient convertibility. But the dollar is in all major currency pairs. At the same time, many brokers include currency pairs with the ruble in their trading offers. This is because there are enough traders who want to earn on the change in the price of the currency of their home country. The peculiarity is that dealer companies can set inflated spreads on such pairs because of their low popularity.
At the same time, it will be interesting for both an experienced trader and a beginner to trade a dollar-ruble pair, as brokers provide a lot of information on the dollar (statistics, economic news). The pair with dollar participation is constantly moving, and it is also influenced by the euro exchange rate of the Forex market. Therefore, it is very important to correctly predict the change in the movement of the dollar against the ruble.
And most importantly, do not forget that the exchange rate of the dollar-ruble pair is always influenced by the turnover of the economies in which the national currency participates. Thus, if the GDP of the Russian Federation grows much faster than that of the USA, you will see the ruble strengthening against the dollar.