Bank of Russia Changes Order of Calculating Official Exchange Rates of Foreign Currencies

Russia’s Central Bank has changed the procedure for calculating official exchange rates of the dollar, euro and yuan against the ruble to ensure business continuity of economic agents on Russian territory. Now the exchange rate will be calculated as of 3:30 pm Moscow time, the regulator reported on Monday.

“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,” the report said.

It is also planned to use a similar methodology for calculating the weighted average exchange rates of the euro and yuan against the ruble in order to improve the representativeness of the official exchange rates of the euro and yuan against the ruble, the Bank of Russia added.

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