The Central Bank has updated the method for determining the dollar and euro exchange rates.
The regulator changed the system by which the value of currency is set after the introduction of sanctions against the Moscow Exchange.
The Vedomosti newspaper reported this on Monday, July 22.
The exchange rate of USD and EUR will still be set by the Bank of Russia. For this purpose, information on over-the-counter transactions between banks will be used.
Transactions made from the beginning of the day until 15:30 Moscow time will be taken into account.
But now the regulator plans to filter the data. For example, transactions with a high deviation from the average values will not be taken into account.
This mechanism will allow the Central Bank to protect itself from market manipulation and set a more justified rate.
Since June 12, the Moscow Exchange and the National Clearing Center have been under US sanctions.
The main consequence was that Russians lost the ability to buy and sell dollars and euros on the stock exchange. But citizens can still conduct transactions through banks.
