Ruble weakens up to 0.8% against major currency pairs in interbank trading

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

On the currency market (interbank), the ruble-to-yuan exchange rate (CNY/RUB) is trading at 11.56 rubles per yuan on Tuesday.

The USD/RUB pair is trading at 80.18 rubles per U.S. dollar.

The Central Bank of Russia (CBR) has announced that starting December 27, 2024, it 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. This change, outlined in CBR Instruction No. 6956-U, aims to enhance the representativeness of official rates amid growing volumes of off-exchange transactions. In cases where trading data for certain currency pairs is unavailable, the CBR will have the option to calculate rates using cross-rates.

Effective June 8, 2026, the CBR has modified the methodology for calculating the official euro-to-ruble exchange rate. Instead of relying on direct quotes for the EUR/RUB pair, the CBR will now use a cross-rate calculation based on data from the European Central Bank (ECB). The new formula is EUR/RUB = USD/RUB × EUR/USD (ECB data).

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