In June 2014, the price of oil began to fall from its high of $115 a barrel. The value of the Russian Ruble, as well as the currencies of all major petroleum exporting countries began to drop along with the price of oil. Bloomberg has several correlation modules that allow us to examine the link between market variables. For example, we can quickly explore the relationship between exchange rates and oil prices using Bloomberg’s HRA program.
To plot the Russian Ruble / US Dollar exchange rate against the price of oil in Bloomberg, type: HRA <GO>