Ruble Weakens Up to 0.8% Against Major Currency Pairs in Interbank Trading

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The Russian ruble is losing ground on the interbank market, declining by about 0.8% against major currency pairs.

On the interbank market, the ruble is trading at 10.94 rubles per Chinese yuan (CNY/RUB) on Thursday.

The USD/RUB pair is trading at 75.67 rubles per U.S. dollar, while EUR/RUB is quoted at 85.35 rubles per euro.

It is worth noting that the Bank of Russia 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 foreign exchange market starting December 27, 2024. This measure, outlined in Bank of Russia Instruction No. 6956-U, aims to enhance the representativeness of official rates amid growing volumes of over-the-counter transactions.

Starting June 8, 2026, the Bank of Russia revised the calculation method for the official euro-ruble exchange rate. Instead of using direct euro-ruble trading quotes, the Bank now calculates the rate using a cross-currency formula: EUR/RUB = USD/RUB × EUR/USD (based on European Central Bank data).

This analysis was provided by Alexei Grishchenko, Ph.D., Professor of Operational and Sectoral Management at the Higher School of Management, Financial University under the Government of the Russian Federation.