Money Market Rates Overview

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The RUONIA rate, which serves as a benchmark for floater bonds, fell to 16.38% on Monday.

It is worth noting that the RUONIA rate:

- reflects the average cost of one-day ruble loans in the interbank market,

- is calculated daily by the Bank of Russia based on the data of operations of the top-35 banks.

The RUSFAR ON RUB (overnight, rubles) rate on Monday was 16.34%.

RUSFAR ON CNY (overnight, yuan) on the first day of the week +0.34%.

RUSFAR 1M for 1 month - 16.26%.

RUSFAR 3M for 3 months - 16.34%.

It should be noted that the RUSFAR rate serves as a key benchmark:

- indicates the level of rates in the Russian money market,

- is formed based on the average values of repo transactions with the CC,

- is included in the list of financial indicators approved by the Bank of Russia.

The situation in the money market reflects a key rate level of 16-17%. This is indicated by the indicators of money market rates: RUONIA and RUSFAR.

The review was presented by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management of the Faculty "Higher School of Management" of the Financial University under the Government of the Russian Federation.