Money Market Rates Overview

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The RUONIA rate, which serves as a basis for coupon payments on most exchange-traded bonds with floating yield, stabilized on Thursday at 16.41%.

RUONIA (Russian Overnight Index Average) is an indicative rate for overnight ruble interbank lending.

This indicator is formed as a weighted average of actual overnight lending transactions between the 35 largest Russian banks.

The RUSFAR ON RUB (overnight in rubles) rate is 16.09%.

The RUSFAR ON CNY (overnight in yuan) rate is +0.2%.

The RUSFAR 1M rate for one month is 16.20%.

The RUSFAR 3M rate for three months is 16.16%.

It is important to note that the RUSFAR rate serves as an indicator of the cost of liquidity attraction and money market profitability.

The indicator is calculated as the average rate on repo transactions with a central counterparty over a fixed period.

The Bank of Russia has confirmed that RUSFAR meets the requirements for financial indicators.

Additionally, market liquidity is supported by about 20 market makers who ensure the stability of quotes.

The money market signals expectations of the key rate at 16-17%. This is indicated by the rates of the money market: RUONIA and RUSFAR.

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