AUD/RUB Exchange Rates and Providers Compared
This guide to the Australian Dollar to Russian Ruble exchange rate with 90-day chart & alerts, historic rates, forecasts and AUD to RUB comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. If you want to calculate equivalent amounts in foreign currencies or rate margins then use our AUD/RUB Quick Calculator.
AUD and RUB in the Markets
When determining the best time to make a foreign exchange transaction, in this case the AUD vs RUB, you should pay attention to the recent market trends for both currencies.
Australian Dollar (AUD)
In November it was all downhill traffic for the Australian dollar dropping back from highs close to 70c at the beginning of the month to around 67c against the USD by month end. At the end of October the AUD had surged to a three month high against the US dollar following the third rate cut in a year by the US Federal Reserve. The gains were mainly due to the fall in the US dollar after the market sensed that US rates are more likely to rise now than fall further.
The RBA also added to the positive sentiment with an optimistic assessment of easing risks from the US-China trade war and Brexit. Accordingly markets are pulling back from bets that the cash rate will drop to 0.5 per cent and the possible start of quantitative easing.
Interestingly, AUD has decoupled from commodity prices in 2019. The price of iron ore (Australia’s largest export) nears multi-year highs while AUD languishes.
Further RBA interest rate cuts this year are now a certainty, and that doesn’t bode well for currency valuations. Westpac has predicted three cuts this year.
Read more in the article AUD Forecasts.
Russian Ruble (RUB)
The ruble has appreciated steadily against the US dollar (65.2), euro (73.05) and Australian dollar (45.6) in 2019. Against those three currencies, in early May, the ruble was worth 7 percent more, on average, than it was at the start of the year.
Recent strength makes a change from last year — a year of steady depreciation for the ruble (it lost 17 percent of its value against USD). US Sanctions played a part in last year’s weakness, as did a year-end collapse in the oil price and foreign currency buying by Russia’s central bank.
Among factors supporting the ruble this year has been a thriving energy market: oil is nearly 50 percent higher per barrel than rates at Christmas time.
In May, TradingEconomics.com was predicting a slightly weaker ruble in a year’s time, with USD/RUB forecast in May 2020 at 67.5 and AUD/RUB at 46.5.
Why can't I just get the AUD/RUB market rate I see online or in the media?
The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between the last rate at which the AUD / RUB was traded (bought or sold) in the international markets.
All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate). Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.
Getting a good market rate is mainly about timing however the transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.
We help you Compare & Save Money on Exchange Rates.
View all AUD Exchange Rates