Ruble Weakens by Up to 0.2% Against Major Currency Pairs in Interbank Trading

© Московская биржа

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

On the interbank market, the ruble is trading at 12.98 rubles per Chinese yuan (CNY/RUB) on Thursday.

The USD/RUB currency pair is trading at 87.10 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 based on consolidated data from both exchange and over-the-counter segments of the foreign exchange market starting December 27, 2024. This change, outlined in Bank of Russia Instruction No. 6956-U, aims to enhance the representativeness of official rates given the increasing volume of over-the-counter transactions.

Starting June 8, 2026, the Bank of Russia modified the calculation of the official euro-to-ruble exchange rate. Instead of using direct quotes for the EUR/RUB pair, the Bank will calculate the rate using a cross-currency formula: EUR/RUB = USD/RUB × EUR/USD (based on data from the European Central Bank).

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.