It has become clear how the Central Bank will calculate exchange rates after the sanctions against the Moscow Exchange 16:51

The Central Bank of the Russian Federation has published a description of the new methodology for calculating exchange rates, which will come into force in connection with the sanctions against the Moscow Exchange. The newspaper reports details “Vedomosti”.

According to the methodology, the dollar and euro exchange rates will be formed based on data on over-the-counter transactions between banks on the day before 15:30 Moscow time. The calculations will not take into account the lower and upper values ​​of transactions, and the Bank of Russia intends to obtain extreme rates by multiplying the difference between the maximum and minimum values ​​from the lower 25th percentile by 1.5.

Once the values ​​are selected, the Central Bank will make a “weighting” based on the size of the transaction. Therefore, large transactions will affect the official exchange rate more than small transactions.

In addition, if less than three banks participate in the foreign exchange market, both the results of that day and the previous day will be taken into account in the calculations.

The value of currencies other than the yuan will be determined by the central bank’s official dollar exchange rate. To do this, the regulator will use data on official rates provided by other central banks.

June 12 US Treasury entry Sanctions against the Moscow Exchange and the NCC. The US Department noted that the Russian authorities’ capital withdrawal measures in relation to the Moscow Exchange expand the opportunities for citizens of the Russian Federation and other countries to “profit from the Kremlin’s military machine by investing in the sovereign debt of the Russian Federation”, Russian companies and leading Russian defense enterprises.

Previously reportedIt was stated that the Central Bank will stop publishing statistics on the over-the-counter foreign exchange market.