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 15.84%.

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.

RUSFAR ON RUB (overnight in rubles) is 15.76%.

RUSFAR ON CNY (overnight in yuan) is +0.24%.

RUSFAR 1M for one month is 15.58%.

RUSFAR 3M for three months is 15.60%.

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

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

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

In addition, market liquidity is supported by about 20 market makers, ensuring stable quotes.

The money market signals expectations of the key rate at 15-16%. This is evidenced 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 of the Faculty "Higher School of Management" of the Financial University under the Government of the Russian Federation.