National currency loses ground by up to 0.5% in interbank trading on Wednesday

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The Russian ruble is losing ground by around 0.5% on the interbank market on Wednesday.

On the interbank market on Wednesday, the ruble-yuan (CNY/RUB) exchange rate is quoted at 12.24 rubles per yuan.

The USD/RUB pair is trading at 82.65 rubles per U.S. dollar.

It is worth noting that the Bank of Russia (Central Bank of Russia) will establish 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 Instruction No. 6956-U, is intended to enhance the representativeness of official rates in light of the growing volume of off-exchange transactions.

The document also provides for the possibility of calculating exchange rates via cross-rates if trading data for certain currency pairs is unavailable.

Starting June 8, 2026, the Bank of Russia has altered the calculation of the official euro-ruble (EUR/RUB) exchange rate. Instead of using direct euro-ruble quotes, the Bank now calculates the rate using a cross-rate based on data from the European Central Bank (ECB). The new methodology works according to the formula: EUR/RUB = USD/RUB × EUR/USD (using ECB data).

This overview was presented by Alexey 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.