The Central Bank changed the mechanism for calculating official exchange rates against the ruble

December 27, the Central Bank (CBR) of Russia will start setting official rates of foreign currencies on the basis of combined data of exchange and OTC segments of the foreign exchange market. This is stated in the message posted on the regulator's website on this day.

In the conditions of expanding the volume of OTC transactions, such a system will increase the representativeness of official rates, writes "Gazeta.Ru".

"The document also provides for the possibility of calculating exchange rates by means of cross-rates in the event that trading data for individual currency pairs will not be available," reads the statement on the official website of the Central Bank of Russia.

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On November 21, the United States took additional measures to restrict Russia's use of the international financial system. The United States imposed sanctions against First Deputy Chairmen of the Bank of Russia Vladimir Chistyukhin and Dmitry Tulin. Gazprombank also fell under the restrictions.

November 27, the Central Bank of Russia set the official dollar rate at Br108. According to the regulator, the weakening of the currency was affected by the U.S. and European sanctions against the financial sector of the Russian Federation. Due to them, it was difficult to get foreign currency on the domestic market.

Also on November 27, the Central Bank announced the suspension of foreign currency purchases in the domestic foreign exchange market until the end of the year in order to reduce the volatility of financial markets. The Central Bank will continue to conduct operations with foreign currency related to the replenishment and use of the National Welfare Fund (NWF). On December 26, the regulator announced the resumption of trading on the domestic foreign exchange market from January 9, 2025.