Ruble Strengthens Marginally by 0.1% Against Major Currency Pairs in Interbank Trading

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

On the interbank market, the ruble is trading at 12.69 rubles per Chinese yuan (CNY/RUB) on Thursday.

The USD/RUB currency pair is trading at 85.65 rubles per US dollar.

It is worth noting that the Bank of Russia (CBR) has established 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 from December 27, 2024. This measure, outlined in CBR Instruction No. 6956-U, aims to enhance the representativeness of official rates amid growing volumes of over-the-counter transactions.

From June 8, 2026, the CBR has changed the calculation method for the official euro-ruble exchange rate. Instead of using direct quotes for the euro-ruble pair, the CBR now calculates the rate through a cross-currency mechanism using data from the European Central Bank (ECB). The new methodology follows the formula: 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.