Money Market Rates (RUONIA, RUSFAR)

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The RUONIA rate, which serves as a benchmark for floater bonds, fell to 16.25% on Monday.

It is worth noting that the RUONIA rate:

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

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

The RUSFAR ON RUB (overnight, rubles) rate on Monday was 16.13%.

RUSFAR ON CNY (overnight, yuan) on the first day of the week was +0.21%.

RUSFAR 1M for 1 month – 16.20%.

RUSFAR 3M for 3 months – 16.05%.

It is important to note 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 Central Counterparty,

- 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 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.