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

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The Russian ruble has strengthened by around 0.1% against major currency pairs in interbank trading.

On the interbank currency market, the ruble is trading at 12.07 rubles per Chinese yuan (CNY/RUB) on Tuesday.

The USD/RUB pair is trading at 80.66 rubles per U.S. dollar.

Starting December 27, 2024, the Central 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 currency market. This move is intended to increase the representativeness of official rates amid growing volumes of over-the-counter transactions. The change is outlined in Bank of Russia Instruction No. 6956-U, which also allows for calculating exchange rates via cross-rates if trading data for certain currency pairs is unavailable.

As of June 8, 2026, the Central Bank of Russia has altered the calculation method for the official euro-to-ruble (EUR/RUB) exchange rate. Instead of using direct quotes for EUR/RUB transactions, the bank now calculates the rate using a cross-rate formula: EUR/RUB = USD/RUB × EUR/USD (based on European Central Bank data).

This overview was prepared 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.