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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

Policy and the Yield Curve Heterogeneity of the impact of the ruble exchange rate on output in the regional context Model Risk for Acceptable, but

currencies. As a result, demand for Russian instruments alters, changing the ruble exchange rate, which, in turn, is an important factor in the formation of

2026). 9 Monetary Conditions and Monetary Transmission • Exchange rate (foreign exchange channel) Over June, the ruble exchange rate against all world currencies decreased markedly after

decline in egg prices was smaller than usual. EXCHANGE RATE In June 2026, the ruble exchange rate returned to the range observed in May 2025

foreign currency in ruble terms (as a result of changes in the exchange rates of a foreign currencies against the ruble) makes it possible 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:

420) (432) (439) (448) (billions of US dollars per year) USD / RUB exchange rate 78,4 86,6 92,7 95,8 (RUB per USD,