On the other hand in countries exporting oil - currency is positively correlated with the oil price.
I think it's because they try to maintain the earnings expressed in domestic currency from smaller amount expressed in international currency (because oil prices went down).
I think it's because they try to maintain the earnings expressed in domestic currency from smaller amount expressed in international currency (because oil prices went down).
See Russia: http://assets.bwbx.io/images/iaPrrgKBoRbc/v1/-1x-1.jpg