Money Market Rate Review

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RUONIA rate, which serves as the basis for coupon payments on most exchange-traded floating-rate bonds, stabilized on Thursday at 16.23%.

RUONIA (Russian Overnight Index Average) is an indicative overnight interbank lending rate in rubles.

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

RUSFAR ON RUB (overnight in rubles) rate is 16.21%.

RUSFAR ON CNY (overnight in yuan) +0.02%.

RUSFAR 1M (one month) rate is 16.03%.

RUSFAR 3M (three months) rate is 15.81%.

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

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

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

In addition, market liquidity is supported by approximately 20 market makers who ensure the stability of quotes.

The money market signals expectations for the key rate at 15-16%. This is evidenced by the money market rates: RUONIA and RUSFAR.

Alexei Grishchenko, Ph.D., Professor of the Department of Operational and Industry Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation, presented the review.