Convert 1 RUB to CLP

The Russian Ruble to Chilean Peso exchange rate is influenced by CBR interest rates, oil and gas prices, sanctions, and geopolitical developments, as well as Central Bank rates, copper prices, inflation data, and Chinese demand. Both the Central Bank of Russia and Central Bank of Chile play crucial roles in determining the relative strength of these currencies.

The Russian ruble used to be one of the more interesting EM currencies to trade.. it was a classic oil play where you could basically express a Brent crude view through USDRUB and it worked pretty well. Then 2022 happened and everything changed. Western sanctions cut Russia off from SWIFT froze central bank reserves and basically made the ruble untradeable for most international participants. The Central Bank of Russia brought in capital controls jacked rates up to mental levels and managed to stabilise the currency domestically but the offshore market is essentially dead. Most major forex brokers suspended ruble pairs and liquidity disappeared. The onshore rate and whatever offshore rate you can find diverge massively at times and theres no reliable price discovery anymore. Even before the sanctions the ruble was always volatile and sensitive to oil prices political risk and the general mood around Russia. Now its in a category of its own really. If youre looking at this from a trading perspective theres honestly not much you can do with it through normal channels anymore. A cautionary tale about geopolitical risk if nothing else.. what was once a liquid EM currency became basically untouchable overnight.

Chile is basically the copper capital of the world and the peso reflects that completely. If youre trading the CLP youre essentially trading copper with extra steps because the correlation is proper strong. Chile produces about a quarter of the worlds copper supply so when copper prices are flying the peso tends to do well and when they tank it gets ugly. Chinese demand is the big driver here since China hoovers up most of the worlds copper for construction and manufacturing. The USDCLP pair is the one youll be looking at and its not the most liquid thing in the world.. spreads can be chunky especially outside of Latin American trading hours. The Central Bank of Chile runs a free floating regime and theyve been fairly orthodox with monetary policy compared to some of their neighbours which is refreshing. Political risk is something to watch though because Chile has gone through some significant political shifts in recent years and the peso has reacted to that. Not a currency most retail traders bother with but if youre into EM plays and you have a view on copper its worth having on your radar.