Money Market Rates Review

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RUONIA rate, which serves as a benchmark for floating-rate bonds, fell to 16.39% on Monday.

RUONIA rate:

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

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

RUSFAR ON RUB (overnight, rubles) on Monday was 16.48%.

RUSFAR ON CNY (overnight, yuan) on the first day of the week was -0.02%.

RUSFAR 1M for one month - 16%.

RUSFAR 3M for three months - 15.90%.

RUSFAR rate serves as a key benchmark:

- shows the level of interest rates on the money market of Russia,

- is based on average values of REPO transactions with the Central Bank,

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

The situation on the money market reflects the level of the key interest rate at 15-16%. This is indicated by the money market rates: RUONIA and RUSFAR.

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