In simple terms
The official exchange rate (официальный курс ЦБ, ofitsialny kurs TsB) is the rate of a currency to the rouble that the Bank of Russia announces every working day. It is a benchmark for the whole country: it is used to convert foreign currency into roubles in taxes, accounting, courts and contracts. But you usually cannot buy or sell currency at this rate — each bank has its own buying and selling rates.
How and when it is set
- The Central Bank publishes the rates for the next day on every working day, in the afternoon Moscow time.
- A rate applies from the date it is set for until the next publication. At weekends and on public holidays the rate announced on the last working day before them applies.
- The yuan rate is based on exchange trading; since June 2024 the dollar and euro rates have been based on banks' over-the-counter trades.
- The Central Bank calculates the rates of other currencies through their rate to the dollar or from other market data.
Where it is used
- Taxes. Income in foreign currency (salary, rent, interest on a currency deposit) is converted into roubles at the Central Bank rate on the date you receive it.
- Contracts "in roubles at the rate". If a contract gives the price in dollars but payment is in roubles, the Central Bank rate on the day of payment is usually used, unless the contract says otherwise.
- Customs and state duties calculated in foreign currency.
- Deposit insurance: the Deposit Insurance Agency (АСВ, ASV) repays a currency deposit in roubles at the Central Bank rate on the day the licence is revoked.
Worked example
Say today's Central Bank rate is 81.50 ₽ per dollar, and your bank sells dollars at 83.40 ₽ and buys them at 79.60 ₽ (example figures). You buy 1,000 dollars:
1,000 × 83.40 = 83,400 ₽ (at the Central Bank rate it would be 81,500 ₽)
The difference of 1,900 ₽ is the bank's income from the exchange. A second example: you rent out a flat to a foreigner for 500 dollars a month and received payment on a day when the Central Bank rate was 81.50 ₽. Your taxable income is 500 × 81.50 = 40,750 ₽, and personal income tax (НДФЛ, NDFL) at 13% is 5,297.50 ₽. You can quickly convert amounts in the currency converter.
Calculate it yourself
Change the numbers and the step-by-step calculation updates instantly. Russian rules for 2026.
Common mistakes
- Expecting the bank to sell currency at the Central Bank rate. The official rate is a benchmark; real bank rates differ, sometimes by several percent.
- Taking the rate for the wrong date. The rate "for tomorrow" is published today. For tax you need the rate on the date you received the income, not the date of exchange or of filing the tax return.
- Calculating a cross rate from different sources. The Central Bank does not set the rate of one foreign currency to another separately — it is calculated through the rouble using the official rates for the same date.
In Russia, Kazakhstan and Belarus
Russia
The rate for the next day is published on cbr.ru on a working day and applies until the next publication; at weekends the rate of the last working day applies. Since June 2024 the Central Bank has calculated the dollar and euro rates from banks' over-the-counter trades.
Kazakhstan
The official tenge exchange rate is set by the National Bank of Kazakhstan based on exchange trading. It is used to calculate taxes and customs payments.
Belarus
The official Belarusian rouble exchange rate is set daily by the National Bank of Belarus based on trading on the Belarusian Currency and Stock Exchange.
Sources: Bank of Russia: official exchange rates («Официальные курсы валют»)