Bank of Russia changes procedure for calculating official exchange rates

To ensure business continuity of economic agents in the Russian Federation, the Bank of Russia switches to setting official exchange rates of foreign currencies against the ruble as of 15:30 Moscow time.

The US dollar/ruble exchange rate will be calculated on the basis of the Moscow Exchange data on the weighted average USD/RUB exchange rate for transactions carried out from 10:00 to 15:30 Moscow time. Previously, the calculation period was from 10:00 to 16:30 Moscow time.

Additionally, in order to improve the representativeness of the official exchange rates of the euro and yuan against the ruble, the Bank of Russia is to use the methodology similar to the calculation of the US dollar official exchange rate, namely, based on the weighted average exchange rates of the euro and yuan against the ruble calculated for transactions carried out at on-exchange trading organised by the Moscow Exchange from 10:00 to 15:30 Moscow time.

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