RUONIA Rate Drops to 14.16% on Wednesday

17:47; 03 June 2026 year

### Russian Overnight Lending Rate Drops to 14.16% The Russian Ruble Overnight Index Average (RUONIA), a key indicator of the Russian money market, fell to 14.16% on Wednesday. This rate is particularly important as it is tied to the coupon payments of many floating-rate bonds. RUONIA is the average rate at which Russian banks lend to each other overnight. It is calculated daily by averaging the rates of interbank lending transactions among the top 35 Russian banks and is published on the official website of the Central Bank of Russia. On the same day, the RUSFAR ON RUB (overnight, rubles) rate stood at 14.17%, while the RUSFAR ON CNY (overnight, yuan) rate was 0.8%. RUSFAR (Russian Secured Funding Average Rate) serves as a benchmark for secured funding transactions and is based on the average rates of repo transactions with a central counterparty. It is included in the list of financial indicators approved by the Central Bank of Russia. It is important to note that RUONIA is an unsecured rate, while RUSFAR is a secured rate. Both are key indicators of the cost of money in the market and are used for floating rates in bonds. RUONIA is calculated by the Central Bank of Russia based on transactions among the top 35 banks, while RUSFAR is calculated by the Moscow Exchange for different maturities (overnight, 1 month, 3 months, etc.). This overview was presented 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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