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dollar exchange rate have a
positive and statistically significant effect on inflation (6 = 0.023; p < 0.01), reflecting the pass-through
of the exchange rate
scenarios;
preparing the Monetary Policy Guidelines;
economic modelling and forecasting;
setting official exchange rates of foreign currencies against the ruble;
compiling and approving the statistical
went down. Petroleum product prices were rising fast.
EXCHANGE RATE
In May 2026, the ruble exchange rate declined below the range observed in May 2025
their countrywide reduction. Fewer companies
mentioned changes in fuel prices, the ruble exchange rate, and labour costs as reasons for the
expected price growth.
LABOUR
volatility of the ruble exchange rate increased. Over the first 20 days of March, the CNY/RUB
8,0 exchange rate rose by over 10
12
9
Monetary Conditions and Monetary Transmission
• Exchange rate (foreign exchange channel)
In May, the average monthly exchange rate of the ruble strengthened again against
Food
Non-food goods RUB/USD exchange rate
Services Weakly responsive to exchange rate
Inflation target Strongly responsive to exchange rate
Sources: Rosstat, R&F Department
178
19.06.2026
stabilising component of the rule, namely its indirect effect of stabilising the exchange rate, in our opinion.
I think that this would force us to
Exchange Rate of US Dollar Against Ruble*........................................................................................................... 81
3.2.2. Official Exchange Rate of Euro Against Ruble*.................................................................................................................. 83
3.2.3. Official Exchange Rate:
180
05.06.2026
official exchange rates
The official exchange rates set monthly (till 11.01.2010)
The Gosbank of the USSR official exchange rates
The official exchange rates