According to the materials published in the Wall Street Journal on March 22, 2012
The continuously growing market currencies of emerging economies unexpectedly received a new sector of activity: Trade of the Russian ruble. The use of the ruble is stimulated by the market of oil products, as well as greater flexibility of the Central Bank, whose policy of minimal regulation seen as the main driving force behind the popularity of the ruble. Sraveniyu on the previous year, in 2011 the volume of ruble-denominated futures contracts has tripled.
The rapid growth in the volume of contracts maintained in the current year. The first two months showed a 46% increase compared with the same period last year, ahead of popular Brazilian real.
The growth of the ruble liquidity may attract more investors in the near future, but the turning point will be the opening Russian bond market to foreign investors. The Russian government is considering the sale of ruble-denominated government securities on foreign exchanges. The decision may be taken by the end of this year, which would encourage more rapid growth of interest in foreign investment in the Russian ruble.
* Reuters: According to Barclays Capital, the new rules will attract an additional 30-50 billion dollars of foreign investment in the Russian securities market by the end of 2014