Currency pair euro to ruble.
The EUR / RUB currency pair is the second most popular on the territory of Russia, after the pairs of the US dollar to the ruble. The reason for this is obvious - close economic ties between Europe and Russia and not only at the interstate level, but primarily for Russian citizens acquiring European goods and services. Also, despite the fact that formally the prices in the Russian wholesale and retail trade are denominated in rubles, they vary depending on the exchange rate of the euro-to-ruble currency pair.
It should be noted that the official euro / ruble exchange rate is set daily (on working days) by the Central Bank of the Russian Federation without the obligation to buy or sell these currencies at the specified rate. This discreteness is not always convenient and does not allow us to determine the direction of the currency pair's movement. The forex market corrects this shortcoming, allowing you to determine the current value of the euro / ruble exchange rate and predict its change.
The ruble exchange rate is heavily influenced by the parameters of energy exports - oil and gas. Also, significant factors include periods of payment of taxes by legal entities, the holiday season and New Year holidays.
After the introduction of sanctions and counter-sanctions in 2014, the trade turnover between the EU and Russia declined, and the general commodity turnover fell. As a result of 2017, the European Union remained Russia's largest economic partner with a share of 42%, in the best years it exceeded 50%.
The EUR / RUB pair is built on the principle of direct quotation. As the base currency is the euro, quoted in it - the Russian ruble. The growth of the currency pair means strengthening of the euro against the Russian ruble, that is, more than one ruble is required to buy one euro. A decrease in the exchange rate indicates a strengthening of the ruble.
Using the current exchange rate chart, you can monitor the dynamics of a currency pair in real time.
Euro (currency sign - €, bank code: EUR) - official currency of 19 eurozone countries (Austria, Belgium, Germany, Greece, Ireland, Spain, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia , Finland, France, Estonia). Also, the currency is used in nine countries that are not members of the euro area. The Euro is managed by the European System of Central Banks (ESCB), led by the European Central Bank (ECB).
The Russian ruble (bank code: RUB) is the official currency of the Russian Federation. The Central Bank of the Russian Federation carries out monetary policy, and its function is to protect and ensure the stability of the ruble
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