Ruble Strengthens by 0.3% Against Major Currency Pairs in Interbank Trading

11:18; 21 July 2026 year

### Ruble Strengthens Marginally on Interbank Market The Russian ruble has gained strength within a 0.3% range against major currency pairs on the interbank market. On Tuesday, the ruble-to-Chinese yuan exchange rate (CNY/RUB) is trading at 11.71 rubles per yuan. The USD/RUB pair is trading at 80.83 rubles per U.S. dollar. Starting December 27, 2024, the Central 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. This change, outlined in Bank of Russia Regulation No. 6956-U, aims to enhance the representativeness of official rates given the growing volume of off-exchange transactions. In cases where trading data for specific currency pairs is unavailable, the regulation allows for calculating rates using cross-rates. From June 8, 2026, the Central Bank of Russia revised its methodology for calculating the official euro-to-ruble exchange rate. Instead of relying on direct EUR/RUB quotes, the bank will now use a cross-rate calculation based on data from the European Central Bank. The new formula is EUR/RUB = USD/RUB × EUR/USD (ECB data). This analysis 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.

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