RUONIA Rate Stands at 13.98% on Wednesday

19:58; 09 September 2026 year

### RUONIA Rate Hits 13.98%: Benchmark for Russian Short-Term Loans The Russian overnight interbank lending rate (RUONIA) stands at 13.98% on Wednesday. This rate is used as a reference for the coupon payments of most floating-rate bonds in Russia. RUONIA is the average rate at which banks lend ruble-denominated overnight loans to each other. It is calculated daily by averaging the rates of interbank lending transactions among the top 35 Russian banks and is published on the official website of the Central Bank of Russia. Another key rate, RUSFAR ON RUB (overnight, rubles), was at 13.93% on Wednesday. Meanwhile, RUSFAR ON CNY (overnight, yuan) stood at 1.5%. RUSFAR serves as a benchmark for: - Indicating the level of interest rates in the Russian money market, - Being formed based on the average values of repo transactions with the central counterparty, - Being included in the list of financial indicators approved by the Central Bank of Russia. It is important to note that RUONIA is an unsecured rate, while RUSFAR is based on secured transactions. However, both are key indicators of the cost of money in the market and are used for floating rates in bonds. RUONIA (Ruble Overnight Index Average) is the rate for unsecured overnight ruble lending, calculated by the Central Bank of Russia based on transactions among the top 35 banks. RUSFAR (Russian Secured Funding Average Rate), on the other hand, is the rate for secured funding (repo with a central counterparty), calculated by the Moscow Exchange for different tenors (overnight, 1 month, 3 months, etc.). This overview was prepared by Alexey Grishchenko, Ph.D., Professor at the Department of Operational and Sectoral Management of the Higher School of Management at the Financial University under the Government of the Russian Federation.

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