Ruble weakens by up to 0.5% against major currency pairs in interbank trading on Tuesday

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The Russian ruble is weakening by about 0.5% against major currency pairs on Tuesday in the interbank market.

On the currency market (interbank), the ruble-to-yuan rate (CNY/RUB) is trading at 12.40 rubles per yuan.

The USD/RUB pair is trading at 82.99 rubles per US 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 change, outlined in Regulation No. 6956-U, aims to enhance the representativeness of official rates amid growing volumes of off-exchange transactions. The regulation also allows for calculating exchange rates via cross-rates if trading data for certain currency pairs becomes unavailable.

It is worth noting that since June 8, 2026, the Central Bank of Russia has revised the methodology for calculating the euro-to-ruble exchange rate. Instead of using direct euro-ruble quotes, the bank now calculates the rate using a cross-rate formula: EUR/RUB = USD/RUB × EUR/USD (based on data from the European Central Bank).

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