How is the official Russian ruble exchange rate formed?
The Central Bank of Russia establishes the official Russian ruble exchange rate on a daily basis. The Bank issues an order that comes into force the next calendar day, thereby setting up the exchange rates of foreign currencies.
The official exchange rate of the Russian ruble against the U.S. dollar is calculated and set up by the Central Bank of Russia based on the price of the ruble against the dollar during daily trading on the interbank domestic currency market.
Exchange rates of other foreign currencies are based on the official exchange rate of the U.S. dollar against the ruble and the quotes of those currencies against the U.S. dollar on the international currency markets and interbank domestic currency market as well as on the exchange rates of the U.S. dollar set up by the national banks of relevant states.