Ruble Weakens Marginally by 0.3% Against Major Currency Pairs in Interbank Trading

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The Russian ruble is weakening by about 0.3% against major currency pairs in the interbank market.

On the currency market (interbank), the ruble-to-yuan (CNY/RUB) exchange rate is trading at 11.24 rubles per yuan on Tuesday.

The USD/RUB pair is trading at 79.06 rubles per U.S. dollar, while EUR/RUB is at 92.75 rubles per euro.

The Central Bank of Russia (CBR) will set official exchange rates for foreign currencies against the ruble based on consolidated data from both exchange and over-the-counter segments of the currency market starting December 27, 2024. This measure, outlined in CBR Regulation No. 6956-U, aims to enhance the representativeness of official rates given the growing volume of over-the-counter transactions. The regulation also allows for the calculation of exchange rates using cross-rates if trading data for certain currency pairs becomes unavailable.

The list of currencies and the method used for each (based on market data or cross-rates) is available on the CBR website.

This overview was presented by Yulia Grishchenko, Ph.D. in Economics, Head of the Department of Financial and Investment Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation, and a member of the Expert Council on Listing at the Moscow Exchange.