Ruble Sheds 0.3% on Interbank Market on Wednesday

© Московская биржа

Russian Ruble Weakens Slightly on Interbank Market

On Wednesday, the Russian ruble (RUB) is losing ground on the interbank market by about 0.3%.

On the interbank market, the ruble is trading at 12.92 rubles per Chinese yuan (CNY/RUB).

The USD/RUB pair is trading at 86.75 rubles per U.S. dollar.

It is worth noting that the Bank of Russia (CBR) 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 CBR Regulation No. 6956-U, is aimed at improving the representativeness of official rates amid the growing volume of over-the-counter transactions.

The regulation also allows for the calculation of exchange rates using cross-rates if trading data for certain currency pairs is unavailable.

Starting June 8, 2026, the Bank of Russia revised its methodology for calculating the official euro-ruble (EUR/RUB) exchange rate. Instead of using direct EUR/RUB quotes, the CBR switched to a cross-rate calculation using data from the European Central Bank (ECB). The new formula is 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 at the Higher School of Management, Financial University under the Government of the Russian Federation.