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241
02.09.2025
to highlight that the floating exchange rate regime remains an important principle underlying our monetary policy. A floating exchange rate helps the economy adjust to
was generally moderate relative to
changes in domestic demand and the ruble exchange rate.24
Imports were, nevertheless, supported by the extension of the simplified
previous years.
Exchange rate
In July 2025, the ruble exchange rate barely changed after a long period of appreciation. The ruble
exchange rate remained almost
244
22.08.2025
Rosstat).
Floating exchange rate of the ruble
Since the end of 2014, the Bank of Russia has been pursuing the floating exchange rate regime. This
245
22.08.2025
exchange rate
Since the end of 2014, the Bank of Russia has been pursuing the floating exchange rate regime. This means that foreign exchange rates
246
22.08.2025
exchange rate
Since the end of 2014, the Bank of Russia has been pursuing the floating exchange rate regime. This means that foreign exchange rates
aggregate remained at 14.0% in June.
• Exchange rate (foreign exchange channel)
In July, the average monthly exchange rate of the ruble weakened slightly against
and
precious metals is converted to rubles using the period average USDRUB exchange rate.
Source: Bank of Russia.
RUSSIA’S BALANCE OF PAYMENTS INDICATORS IN
Exchange Rate of US Dollar Against Ruble*...........................................................................................................77
3.2.2. Official Exchange Rate of Euro Against Ruble*.................................................................................................................. 79
3.2.3. Official Exchange Rate:
values since October 2021.
SAAR – seasonally adjusted annualised rate.
Sources: InFOM, Rosstat, Bank of Russia, Interfax, Moscow Exchange.
3
Inflation Expectations and Consumer Sentiment / No.