RUONIA Rate Stands at 14.37% on Wednesday

19:26; 08 July 2026 year

### Russian Overnight Interest Rates Remain Elevated On Wednesday, the RUONIA (Ruble Overnight Index Average) rate stands at 14.37%. This benchmark rate is used to determine the coupon payments for a significant portion of floating-rate bonds in Russia. RUONIA is the average rate applied by banks for overnight ruble-denominated loans. It is calculated daily by averaging the interbank lending rates 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 (Russian Secured Funding Average Rate, overnight, rubles) rate was 14.4%, while the RUSFAR ON CNY (overnight, yuan) rate was 0.8%. RUSFAR serves as a key benchmark, reflecting: - 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 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 maturities (overnight, 1 month, 3 months, etc.). This overview was presented by Alexei 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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