Central Bank: We will maintain tight monetary conditions for a long time
25 April 15:20
Overview of money market rates (RUONIA, RUSFAR)
16:20; 23 April 2025 year
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The RUONIA rate, to which coupons of most of the floater bonds are linked, rose to 20.67%.
The average ruble one-day loan rate (RUONIA) is the rate applied by banks for short-term loans to each other for a period of one day (overnight). The rate is calculated daily by specifying the average value of interbank lending transactions among 35 leading Russian banks and is published on the official website of the Bank of Russia.The rate of RUSFAR ON RUB (overnight, rubles) is 20.67%.
RUSFAR ON CNY (overnight, yuan) +0.33%.
RUSFAR 1M for 1 month - 21.01%.
RUSFAR 3M for 3 months - 21.17%.
Note that RUSFAR shows the cost of borrowing money and the level of profitability of Russian money market instruments.
RUSFAR represents the average value of the rates on REPO transactions conducted with the participation of a central counterparty.
The Bank of Russia recognizes the RUSFAR rate as meeting the established criteria of financial indicators.More than 200 participants connected to the central counterparty REPO mechanism generate the market rate anonymously for standard periods: overnight (ON), week (1W), two weeks (2W), month (1M), three months (3M).
About 20 market makers also provide quotation support.
The money market is signaling expectations for a key rate of 20-21%. This is evidenced by the indicators of money market rates: RUONIA and RUSFAR.
The review was presented by Alexey Grishchenko, Doctor of Economics, Professor of the Department of Operational and Industry Management at the Graduate School of Management of the Financial University under the Government of the Russian Federation.