RUONIA Rate Drops to 13.86% on Wednesday

16:50; 13 May 2026 year

### RUONIA Rate Drops to 13.86% The Russian Ruble Overnight Index Average (RUONIA) fell to 13.86% on Wednesday. It is important to note that the RUONIA rate is linked to the coupon payments of a significant portion of floating-rate bonds in Russia. RUONIA is the average rate applied by banks for short-term overnight loans in rubles. The rate is calculated daily by averaging the interest rates of interbank lending transactions among 35 leading Russian banks and is published on the official website of the Central Bank of Russia. Meanwhile, the RUSFAR ON RUB (overnight, rubles) rate stood at 13.89%, while the RUSFAR ON CNY (overnight, yuan) rate was 0.27%. RUSFAR (Russian Secured Funding Average Rate) serves as a key benchmark: - It reflects the level of interest rates in the Russian money market. - It is based on the average values of repo transactions with the central counterparty. - It is included in the list of financial indicators approved by the Central Bank of Russia. It is worth noting that RUONIA is an unsecured rate, while RUSFAR is based on secured transactions. Both rates are key indicators of the cost of money in the market and are used for floating rates in bonds. RUONIA (Ruble Overnight Index Average) is the rate for unsecured overnight ruble lending, calculated by the Central Bank of Russia based on transactions among the top 35 banks. RUSFAR (Russian Secured Funding Average Rate) is the rate for secured funding (repo transactions with a central counterparty), calculated by the Moscow Exchange for different tenors (ON, 1M, 3M, etc.). This analysis was prepared by Alexey Grishchenko, Ph.D., Professor at the Department of Operational and Sectoral Management of the Higher School of Management at the Financial University under the Government of the Russian Federation.

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