National Currency Strengthens by 0.1% Against Major Currency Pairs in Interbank Trading

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The Russian ruble is strengthening by around 0.1% against major currency pairs in the interbank market.

On the interbank currency market, the ruble-to-yuan (CNY/RUB) exchange rate is trading at 12.90 rubles per yuan on Tuesday.

The USD/RUB pair is trading at 86.76 rubles per US dollar.

The Central Bank of Russia (CBR) 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 starting December 27, 2024. This change, introduced by CBR Instruction No. 6956-U, aims to enhance the representativeness of official rates in light of growing volumes of over-the-counter transactions. The instruction also allows for calculating exchange rates via cross-rates if trading data for certain currency pairs becomes unavailable.

Starting June 8, 2026, the CBR changed the methodology for calculating the official euro-to-ruble (EUR/RUB) exchange rate. Instead of using direct quotes for EUR/RUB transactions, the CBR began calculating the rate through a cross-rate using data from the European Central Bank (ECB). The new formula is EUR/RUB = USD/RUB × EUR/USD (based on ECB data).

This analysis was presented by Alexei Grishchenko, Ph.D., professor at the Department of Operational and Sectoral Management at the Faculty of Higher School of Management, Financial University under the Government of the Russian Federation.