Convert RUB to EUR
The RUB/EUR pair experiences considerable volatility on the release of key economic data from Russia and the Eurozone, including GDP, unemployment rate, PPI, industrial production, retail sales, business confidence and PMI readings from the manufacturing as well as the services sectors.
Any changes to the monetary policy or interest rates announced by the Bank of Russia or the European Central Bank (ECB) can cause fluctuations in the value of the RUB or the EUR respectively. For instance, if the ECB hikes interest rates or adopts a more hawkish tone towards its monetary policy, the EUR strengthens against its peers and causes the RUB/EUR pair to trade bearish as a result.
The RUB/EUR currency pair touched a high of 0.01480 on 13 January 2020. This was the strongest level the pair touched so far this year.