Ruble Strengthens by 0.2% Against Major Currency Pairs in Interbank Trading

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The Russian ruble is strengthening by about 0.2% against major currency pairs in the interbank market.

On the currency market (interbank), the ruble-to-Chinese yuan exchange rate (CNY/RUB) is trading at 12.76 rubles per yuan on Tuesday.

The USD/RUB pair is trading at 85.85 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 currency market. This move, aimed at enhancing the representativeness of official rates amid growing volumes of over-the-counter transactions, is outlined in Bank of Russia Regulation No. 6956-U. The document also provides for the possibility of calculating exchange rates via cross-rates if trading data for certain currency pairs is unavailable.

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

This overview was presented 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.