National currency loses ground by 0.1% on interbank market on Wednesday

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Russian ruble weakens slightly on interbank market on Wednesday.

On the interbank market on Wednesday, the ruble-to-Chinese yuan exchange rate (CNY/RUB) is trading at 12 rubles per yuan.

The USD/RUB pair is trading at 80.60 rubles per U.S. dollar.

It is worth noting that the Bank of Russia will set official exchange rates for foreign currencies against the ruble starting December 27, 2024, 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 in light of the growing volume of off-exchange transactions.

The regulation also provides for the possibility of calculating currency rates using cross-rates if trading data for certain currency pairs becomes unavailable.

Starting June 8, 2026, the Bank of Russia changed the calculation method for the official euro-to-ruble exchange rate. Instead of relying on direct trading data for the EUR/RUB pair, the bank switched to a cross-rate calculation using data from the European Central Bank. The new methodology works according to the formula: EUR/RUB = USD/RUB × EUR/USD (based on ECB data).

This overview was presented by Alexei 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.