First published on the NIDO Russia Telegram channel.
The regulator will determine the exchange rate of the American currency against the ruble for transactions made not before 11:30, but before 16:30 Moscow time. The Central Bank decided to set the euro exchange rate as the official rates of other currencies
The Bank of Russia decided to expand the time range for calculating the dollar/ruble exchange rate due to increased market volatility. This was reported on the website of the regulator.
“The Bank of Russia will set the official dollar rate based on the Moscow Exchange data on the weighted average dollar/ruble exchange rate for transactions concluded from 10:00 to 16:30 Moscow time. Previously, the calculation period was 10:00 - 11:30 Moscow time," the regulator said. The Central Bank noted that the expansion of the time period will allow to take into account a greater number of transactions per day.
Establishing the official rate of the euro will be simplified - it will be set in the same way as the official rates of other currencies.
The corresponding instruction of the Central Bank was sent for registration to the Ministry of Justice, it will enter into force after official publication.
The Central Bank sets the dollar rate based on data on the weighted average dollar exchange rate against the ruble, calculated on transactions concluded on the Moscow Exchange with a settlement term of "tomorrow". When trading is not held, the exchange rate of the American currency against the Russian one is set the same as the last exchange rate set by the Bank of Russia.
The euro exchange rate before today's instructions was determined by the Central Bank on the basis of the ratio of data on the official dollar to ruble exchange rate and the weighted average euro to dollar exchange rate. On weekdays when there were no trades on the stock exchange, the exchange rate of the European currency was set based on the data on the dollar/ruble exchange rate and the euro/dollar quotation at 11:30 a.m. of the current business day.
The rate of other currencies is set on the basis of data on the dollar exchange rate against the ruble and currency quotes against the US dollar at 11:30 Moscow time.
Earlier, the Central Bank determined the official exchange rate of the US dollar for March 12-14 at the level of 116.75 rubles, the euro - 128.95 rubles.
In early March, the Central Bank ordered to charge a commission of at least 30% when individuals buy dollars, euros and pounds on the stock exchange. Since March 4, the regulator has reduced it to 12%.
Source: Julia Vyrodova (RBC)
Pic source: IMF.org
