Ruble Dips Slightly on Interbank Market Against Major Currency Pairs

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

On Thursday, the ruble is trading at 12.40 rubles per Chinese yuan (CNY/RUB).

The USD/RUB currency pair is trading at around 83 rubles per U.S. dollar.

It is worth noting that the Central Bank of Russia (CBR) will set official exchange rates for foreign currencies against the ruble starting December 27, 2024, based on consolidated data from both exchange and over-the-counter segments of the foreign exchange market. This change, introduced by CBR Regulation No. 6956-U, aims to enhance the representativeness of official rates amid growing volumes of off-exchange transactions.

From June 8, 2026, the CBR has modified the calculation of the official euro-ruble exchange rate. Instead of using direct quotes for the euro-ruble pair, the CBR will calculate the rate through a cross-currency mechanism using data from the European Central Bank (ECB). The new methodology works as follows: EUR/RUB = USD/RUB × EUR/USD (based on ECB data).

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