The USD/RUB trades the US dollar against the Russian ruble and is the most popular currency pair for forex traders who like to trade the RUB. This currency pair enjoys a close, negative correlation with crude oil prices as crude oil is one of Russia's most important exports. Being a key contributor to its economy, fluctuations in crude oil prices can drive strong moves in the value of the RUB. When crude oil prices fall, the Russian ruble weakens, turning USD/RUB bullish, and vice versa.In addition, the exchange rate of USD/RUB also sees significant change on the release of key economic data from the US and Russia. Some important economic events that drive price action in this forex pair include the release of GDP, employment, inflation and CPI. The Russian Ruble is also sensitive to geopolitical tensions, especially around Ukraine and anything that can affect crude oil.Monetary policy decisions by the Fed and the Bank of Russia can also cause changes to the value of the US dollar and the Russian ruble respectively. For instance, when the Fed hikes interest rates, the USD strengthens, causing USD/RUB to trade bullishly, and vice versa.