RUONIA Rate Drops to 13.82% on Wednesday

17:22; 17 June 2026 year

### Russian Interbank Lending Rate Hits 13.82% The RUONIA (Ruble Overnight Index Average), a key benchmark for the majority of floating-rate bonds in Russia, dropped to 13.82% on Wednesday. RUONIA represents the average rate for unsecured overnight ruble-denominated interbank loans. It is calculated daily by averaging the rates of short-term lending transactions among 35 major Russian banks and is published on the official website of the Central Bank of Russia. Meanwhile, the RUSFAR ON RUB (Russian Secured Funding Average Rate) for overnight ruble-denominated secured loans stood at 13.76%, while the RUSFAR ON CNY (overnight loans in Chinese yuan) was 2.11%. RUSFAR serves as a crucial indicator: - It reflects the level of rates in the Russian money market. - It is based on the average values 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 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 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 terms (overnight, 1 month, 3 months, etc.). This analysis was provided by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management of the Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.

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