Dollar exchange rate and euro exchange rate: how are they determined? Cheaper in the morning: when and in which online banks is it more profitable to change currency How much does the Central Bank of the Russian Federation set exchange rates.

At the request of RBC, the analytical agency Markswebb Rank & Report found out which online banks are best for changing currency. Agency employees studied the buying and selling rates of currencies in the 20 largest online banks with the largest number of users.

For three days (April 22, 25 and 27), in the morning and evening, analysts collected data on exchange rates to understand: which banks have the minimum difference between the purchase and sale prices of dollars and euros. The smaller this difference (or, as financiers say, the spread), the less the bank rate differs from the exchange rate of the currency. This means that losses during foreign exchange transactions are also smaller.

Where to change

The smallest difference between the purchase and sale prices - and therefore the best rates - is with the Tinkoff Bank Internet bank. The average spread for transactions with dollars, according to the results of measurements by Markswebb Rank & Report, was 68 kopecks, and for transactions with euros - 77 kopecks. In other words, the rates of this bank deviate from the exchange rates by about 35 kopecks. one way or the other.

For example, on the morning of April 22 at 11:37 a dollar on the Moscow Exchange cost 66.12 rubles. Tinkoff Bank at that moment offered clients to buy dollars at 66.40 rubles and sell them at 65.75 rubles. The difference with the exchange rate was 28 and 37 kopecks, respectively. The spread shown in the table essentially shows the loss in rubles when buying and selling $1 at the same time.

​At Tinkoff Bank, the system itself automatically buys in real time exactly as much currency as the client needs, says Daria Ermolina, the bank’s communications director. That's why spreads are so tight, she adds. Tinkoff Bank is obviously working to attract those who play a little in the foreign exchange market or simply often buy currency - for travel or savings, adds Alexey Skobelev, CEO of Markswebb Rank & Report.

Home Credit, Otkritie and Uralsib banks also have favorable rates. In all of these organizations, the difference between buying and selling currency in the morning and afternoon is less than one ruble. The largest spreads, and therefore the most unfavorable rates, are at MDM Bank (5.1 rubles on the dollar and 6.1 on the euro), Promsvyazbank (4 rubles in the morning and 5 rubles in the evening for both currencies) and Sberbank (3 .84 for the dollar and 4.1 for the euro).

How much is this in money? If you purchased $1,000 in the MDM Bank Internet office on the morning of April 22, you would have to pay 2,000 rubles. more than in the Internet banking of Tinkoff Bank.

“Sberbank is one of the largest banks in Russia, and it is important for us to provide the required volume of supply to our clients in a timely manner without losing the quality of service, despite external factors,” the Sberbank press service commented on the policy of foreign exchange operations. “Sberbank can afford to make money from a large, unsophisticated mass of clients,” responds Skobelev from Markswebb Rank & Report.

In turn, MDM Bank, as part of its integration with Binbank, will soon revise the exchange rate policy on conversion operations, notes the press service of this bank. All parameters will be identical to those used by B&N Bank: that is, morning spreads will be approximately 2 rubles. for dollars and euros.

When to change

Markswebb Rank & Report measurements were taken twice a day: in the morning and in the evening, after the stock exchange closed. Obviously, buying currency through online banks in the morning is much more profitable - for 14 out of 18 banks (2 out of the 20 largest online banks do not allow you to change currency online), the difference in buying and selling rates grows in the evening. The spread widens the most at Citibank (from 3.35 rubles to a record 7.41 rubles in dollars) and Home Credit (from 0.77 rubles to 4.81 rubles in dollars). His evening courses are comparable to ranking outsiders.

For a client, this means this: if he buys $1,000 at Citibank in the evening, he will lose about 2,000 rubles compared to the same transaction in the morning. Home Credit Bank will have approximately the same losses between morning and evening currency exchange, although in general it is more profitable than Citibank for such transactions. For the rest of the twenty banks, the difference between morning and evening spreads averages 1.3 rubles. - which is equivalent to a loss of 650 rubles. with a one-time exchange of $1000.

According to the CEO of Markswebb Rank & Report, explaining the difference between evening and morning courses is not difficult. “Banks are tied to the exchange, which has operating hours. There is no trading at night and on weekends, and in the evening trading volumes are minimal,” he says. If a client gives an order to buy or sell a currency during non-working hours of the exchange, this is a risk: the next day the rate may change sharply, and the bank will not be able to make money on this operation or even incur losses, notes Skobelev. Therefore, many banks include these risks in evening rates, significantly increasing the difference between purchase and sale rates, he concludes.

At the same time, for four banks - Sberbank, Alfa Bank, Avangard and MDM banks - the spread does not change at all depending on time. At Russian Standard Bank, judging by Markswebb Rank & Report estimates, the changes are minimal: 0.02 rubles. on transactions with the dollar, and its spreads on the euro are generally unchanged. At VTB24, the spread when buying euros is also the same in the morning and evening. “We do not offset the risks of providing non-market quotes by widening spreads, like a number of competitors,” explains Dmitry Orlov, director of treasury at VTB24 bank.

What is currency and exchange rates?

Currency and money are synonyms (). Currency can be foreign or Russian. The Russian currency is the ruble, which is the only legal tender that must be accepted at face value throughout Russia. Foreign currency includes banknotes in the form of banknotes, treasury notes, as well as coins that are in circulation and are legal means of cash payment in the territory of the relevant foreign state. It should be noted that currency can be not only cash, but also non-cash, that is, existing not in the form of banknotes or coins, but in the form of entries in bank accounts.

Currency can be convertible or non-convertible. Convertible is a currency that can be exchanged for another without special permission from any government authorities. Thus, the US dollar, Japanese yen, euro and some others are freely convertible - these include the Russian ruble.

But in order to exchange one currency for another, you need to know its exchange rate, in other words, its price. An exchange rate is the price of a country's currency expressed in another country's currency. In other words, currency is a commodity like any other, and it can be purchased at a set price. Rubles can be bought for US dollars, euros, yuan, and vice versa. And for each currency used as a means of payment for another currency, a certain exchange rate is established.

Wherein dollar exchange rate or euro exchange rate, and any other currency can be either official (fixed and floating) or unofficial. The official exchange rate for the national currency is set by the government, usually represented by the central bank, for a certain period, for example, a day, and is used in official calculations. The unofficial rate may differ from the official one in settlements between ordinary citizens or legal entities at their own discretion.

A fixed rate is an officially established relationship between currencies. Thus, a fixed exchange rate between the dollar and the ruble was used in the USSR; it was established by the State Bank of the USSR. For example:

• on January 1, 1924, the exchange rate of $1 was equal to 2.20 rubles;
• on January 1, 1936, the exchange rate of $1 was equal to 1.15 rubles;
• on January 1, 1937, the exchange rate of $1 was equal to 5.04 rubles;
• on January 1, 1961, the exchange rate of $1 was equal to 0.90 rubles.

Interestingly, in the early 1990s, there were several types of exchange rates in parallel:

1

Official fixed (established by the State Bank of the USSR and used for official settlements);

2

Commercial (was established on November 1, 1990 based on the ratio of 1.8 rubles per $1 and was used for settlements on foreign trade transactions, foreign investments in the USSR and Soviet investments abroad, as well as non-trade settlements carried out by legal entities (Presidential Decree USSR dated October 26, 1990 No. UP-943 " "));

3

“Tourist” (was introduced on July 24, 1991 by the State Bank of the USSR at the level of 32 rubles per $1, this type of rate lasted only five months and was used along with the official fixed rate for the purchase of currency by individuals (Telegram of the State Bank of the USSR dated April 1, 1991 No. 135/91 " ").

The record low value of the official dollar exchange rate was recorded on February 13, 1991 - its official rate was 0.54 rubles. Such a low official dollar exchange rate lasted until June 24, 1992, reaching by that time only the level of 0.56 rubles.

Already on July 1, 1992, the official dollar exchange rate was set at 125.26 rubles. for $1 and began to grow sharply, reaching an amount of 414.50 rubles by January 1, 1993, and 1,247 rubles by January 1, 1994. By January 6, 1995, the dollar to ruble exchange rate increased to 3,623 rubles, and by January 5, 1996, to 4,461 rubles, reaching a value of 5,960 rubles by the end of 1997. for $1, after which the ruble was redenominated a thousand times in Russia.

However, even after this, the dollar/ruble exchange rate continued to grow steadily, showing sharp rises in 1998 and 2014. A certain stability and even some periodic depreciation of the dollar could be observed from 2000 to 2013. As of December 9, 2014, the US dollar exchange rate was set at 53.31 rubles. for $1. If compared with previous, non-denominated rubles, it corresponds to the rate of 53,310 non-denominated rubles per $1. Thus, for the period from July 1, 1992 to the present, the value of the ruble against the US dollar has fallen 424 times.

Currently, Russia uses a floating exchange rate, which involves the use of a market mechanism of currency regulation to set exchange rates. At the same time, it changes under the influence of supply and demand.

The Bank of Russia is responsible for establishing official exchange rates in relation to the ruble (Article 53 of the Federal Law of July 10, 2002 No. 86-FZ ""). However, an ordinary citizen cannot come to the Bank of Russia and buy or sell currency at the official rate. Moreover, the Bank of Russia does not undertake any obligation to buy and sell currency at the official rate. In fact, citizens can only purchase currency from commercial banks at an unofficial rate, and the price of the currency is usually overpriced - after all, the commercial bank makes a profit from this transaction.

Therefore, it is believed that citizens are not recommended to “play” with exchange rates (at least in the short term, without being able to save money for years in advance), since they are always forced to buy currency more expensive and sell it cheaper than at the official rate, practically always losing on this difference.

Dollar rate for today and euro rate for today

Most Popular exchange rates that interest Russians almost every day are dollar and euro to ruble exchange rates. Unfortunately, the ruble has fallen sharply against these currencies recently. According to many analysts, this was a consequence of Russia's domestic and foreign policies. Currently, the fall of the ruble continues and it is completely unclear at what level it will stop.

Of course, such a decline cannot but affect the well-being of ordinary Russians. Since prices in stores rise following the increase dollar and euro exchange rates(since many goods are purchased abroad for foreign currency), the purchasing power of the income received by citizens falls proportionally. And if an employee at the beginning of 2014 could buy with his salary in the amount of 30 thousand rubles. goods worth the equivalent of about $920, now the purchasing power of his wages has fallen to about $565, ​​that is, almost half. Of course, Russians are very worried about this situation.

As a result, most citizens monitor daily dollar exchange rate for today And euro exchange rate for today, depending on which of these currencies seems more important to them. But few people know exactly how this rate is set.

The fact is that dollar exchange rate for today set by the Bank of Russia the day before. In fact, every day the dollar exchange rate for tomorrow is set. Official US dollar to ruble exchange rate calculated and established by the Bank of Russia based on quotes from the interbank domestic foreign exchange market. From April 15, 2003 to establish official dollar exchange rate weighted average is used US dollar exchange rate at the auctions of the Unified Trading Session of Interbank Currency Exchanges with the settlement deadline “tomorrow”, as of 11:30 a.m. on the day of trading (Information from the Bank of Russia dated April 14, 2003).

Thus, dollar rate for tomorrow is set by the Bank of Russia daily (on weekdays) at 11:30 a.m. of the trading day based on the average value of its value at exchange trading.

The same way, euro exchange rate for today was established by the Bank of Russia yesterday, but using a different algorithm. Euro exchange rate for tomorrow is determined not directly, by the average value at auctions at a certain time, but on the basis of the already established dollar exchange rate for tomorrow, taking into account the quotation of the euro against the US dollar on international currency markets and on the interbank domestic foreign exchange market.

In total, the Bank of Russia sets daily rates for 34 foreign currencies - all of them are available on its official website, and the rates of the US dollar and euro can also be found on the GARANT.RU portal.

Keep in mind that exchange rates set by the central bank do not change on weekends! In the table below you can see the dollar and euro exchange rates for today, tomorrow and the week ahead. If you are interested in the future fate of currencies, follow the news and monitor quotes updates.

Current exchange rates on the InstaForex exchange

Monthly dollar and euro exchange rate forecast

What determines the dollar exchange rate, factors influencing exchange rates

If you are interested in buying or selling euros or dollars, the exchange rate is an important indicator for you every day. Today, both currencies are showing significant volatility. This is primarily due to political factors.

What affects the exchange rate between the US dollar and the euro:

• decisions made by diplomats within the framework of international cooperation. Yesterday Angela Merkel announced her readiness to reach an agreement with Russia - the euro fell slightly against the ruble. Tomorrow Donald Trump will release a new package of sanctions - the dollar exchange rate will skyrocket. Therefore, if you want to play on the currency exchange or make money by buying/selling currencies, you need to follow political news;
• economic situation in the country and in the world. Yes, even economic changes within Russia affect the position of the ruble, and, accordingly, the exchange rate of foreign currencies to it;
• decisions of the Central Bank. It is known that at the beginning of the aggravation of relations with Europe and the United States, the Central Bank of the Russian Federation tried to balance the jumps in exchange rates against the ruble using its own resources. Today, the volatility of the dollar and euro has decreased slightly, and the system of containment of the Russian banking network played a significant role in this.

Previous rate forecasts

We all remember the times when the dollar exchange rate did not exceed 35 rubles, and the euro remained at the level of 39-45 rubles. Unfortunately or fortunately, these rates have not appeared on display boards in banks and exchange offices for several years. Below is our forecast of exchange rates a few days before the rapid fall of the ruble. This information is presented just like that, as a keepsake...

Dear visitors to the site “Currency exchange rate forecast for tomorrow”, please note that the forecast for the dollar and euro exchange rates is given for informational purposes only and cannot be regarded as a guide to action!

We are not responsible for the accuracy of these forecasts, because... exchange rates depend on a huge number of factors and even the most experienced trader, broker, financier (yes, in general, anyone) will not be able to predict the exchange rate for tomorrow, for a week or for a month with 100% accuracy!

Exchange rates of the Central Bank of the Russian Federation are updated every day, affecting the cost of goods and individual service items. The living conditions of Russians and the accessibility of various areas of social life depend on them. There are many factors that influence indicators; knowing them helps you make the right decisions.

Why do we need the official exchange rate of the Central Bank of the Russian Federation?

• The exchange rates of the Central Bank of the Russian Federation for today and tomorrow are given on our website: the information is duplicated immediately after updating the information on the official website of the Central Bank of Russia. This information is important for banks - depending on the adjustments, commercial rates change both up and down. Information is important:
• international commercial companies;
• entrepreneurs interacting with foreign partners;
• representatives of various government departments to formulate policies;

ordinary citizens to determine the most appropriate time for transactions with money.

Many ordinary people make purchases in foreign online stores in order to save money. Knowledge of official data on purchases and sales allows you to exchange currency in a timely manner and make a purchase with maximum benefit for yourself.

How is the exchange rate set by the Central Bank?

On the exchange itself, quotes are determined by the market: according to indicators that arise between supply and demand. This indicator is influenced by the following factors:

• economic;
• social;
• political and others.

The value of foreign money rises when demand outweighs supply. In the opposite situation, it falls.

What time is the Central Bank of the Russian Federation exchange rate set for tomorrow?

The official exchange rate of the Central Bank of the Russian Federation for tomorrow is set at 11.30 Moscow time, but their publication is delayed. By three o'clock in the afternoon, the information is usually already in the public domain.

How to convert currency using a converter at the rate of the Central Bank of the Russian Federation?

The site contains a currency converter that allows you to convert one currency to another online. You can set the required unit, specify a certain amount of money for exchange. Information will immediately appear in the window located nearby. It is possible to immediately familiarize yourself with the official data or make calculations taking into account data for any other number from the archive. The service is convenient to use before visiting a bank branch, as it allows you to instantly get results.

There is an established opinion among the masses that when conducting foreign exchange transactions, banks take the exchange rate of the Central Bank as a basis. In fact, this rate, also called the official rate, has virtually nothing to do with the value of the currency in financial institutions. Why does this happen and how do banks set exchange rates?

Official exchange rate of the Central Bank of the Russian Federation

Let's start with the fact that purchase and sale operations of foreign currency are carried out on interbank currency exchanges (ICE). These are specialized exchanges that have licenses from the Central Bank of Russia (the main financial regulator) to organize transactions for the purchase and sale of currencies of other countries for rubles and carry out settlements for transactions concluded on them. Trading in which authorized banks can take part is called a single trading session of the interbank currency exchanges (ICE ITC).

The main currency exchange (currency trading platform) in Russia is the Moscow Interbank Currency Exchange (MICEX). There are also regional currency exchanges.

Regulation of the Central Bank of the Russian Federation No. 286-P dated April 18, 2006 determines the procedure in accordance with which official exchange rates are established. They depend on market quotes formed on the basis of demand for foreign currency and its supply in the foreign exchange market.

Initially, the official exchange rate of the US dollar against the ruble is determined using a special method: the US dollar exchange rate is equal to the weighted average of exchange quotations within the framework of the Unified Trading Session with the calculation “tomorrow”, as of a certain time, usually before 15:00. The clear time for establishing official rates within a working day is not fixed by the above-mentioned regulation of the Central Bank, so it may change. Thus, the US dollar exchange rate is the exchange rate of purchase and sale of this currency, at which trading was conducted from the opening of the exchange to a fixed time.

The official exchange rates of other currencies in relation to the ruble are established on the basis of the official exchange rate of the US dollar, and the quotations of these currencies in relation to the US dollar on the International Exchange, i.e. based on cross rates. In fact, to set the euro exchange rate against the ruble, the Central Bank of the Russian Federation does not look at how the euro is traded against the ruble on the Moscow Exchange, but looks at the euro exchange rate against the dollar on the international foreign exchange market.

Why does the Central Bank set the official exchange rate? This is done not only so that ordinary people, far from the nuances of currency trading, can imagine the approximate value of a particular currency. Official rates are used when calculating government income and expenses. budget, implementation of all types of payment and settlement operations of state bodies. management with organizations and individuals, as well as for accounting purposes.

Exchange rate

Every bank visitor saw a colorful board inside the office (and outside it) with currency purchase/sale rates, which can change up to several times a day.

The purchase rate is the price at which the bank is ready to accept foreign currency from the population.

The selling rate is, accordingly, the price at which an institution sells a specific currency.

The purchase rate is always lower than the sale rate - it is from this difference that the bank earns through exchange transactions with currency. If you can’t figure out what the exchange rate is, then follow a simple rule: where the value of the currency is lower, that means that’s what the bank buys it for.

There are no instructions from the Central Bank regarding the establishment of buying and selling rates by banks - it does not regulate the use of official rates of foreign currencies in relation to the ruble and does not determine the scope of their mandatory application. No regulatory document regulates this procedure. A banking institution focuses primarily on the general market situation. If it sets the selling price higher than that of its competitors, it is unlikely that anyone will buy this currency, so the rates in different banks are approximately the same. Thus, the main “regulator” of the exchange rate is the retail market for the sale and purchase of currency to citizens (individuals).

Indicators of supply and demand for a particular currency also play a role in determining the exchange rate. So, if the value of a certain currency is rapidly falling and the population is in a hurry to say goodbye to it, the purchase rate will invariably decline. It’s the same story with an increase in the market rate - its growth will certainly cause an increase in the selling price.

The level of the exchange rate is also influenced by such an indicator as the currency position of a financial institution, i.e. the ratio of obligations and claims of a commercial bank in foreign currency. If a bank needs the currency of a certain country, its purchase rate may rise. If there is an excess of foreign monetary units and the bank wants to “unload” from it, the selling rate will be set lower than the market average.

The difference between the selling and purchasing prices of foreign currency is called the “spread”. So, any bank, when determining its pricing policy for currency exchange, will always strive to increase the spread and, accordingly, its income.

All the nuances described above collectively affect how banks set rates for the sale and purchase of currencies.

Conversion rate

The buying and selling costs discussed above relate to foreign cash transactions. When making non-cash payments, the conversion rate is used, in simple words - the conversion of Russian money into the currency of another state. Conversion transactions take place in the following cases:

1. When paying for purchases abroad using a bank card with a ruble account. In this case, the price of the product or service will be expressed in local currency, and when debiting money from the card, the bank will automatically recalculate the purchase price in rubles at the current conversion rate.

2. For money transfers in foreign currency through a bank cash desk. Here the bank will send a transfer in the required currency, and, of course, take rubles from the client.

Conversion rates can be set by banks:

• at the rate of sale or purchase of currency in force at a commercial bank;
• at the officially established rate of the Central Bank of the Russian Federation (this rate is considered the most profitable);
• at the Central Bank rate plus a fixed percentage.

At the same time, it is important to know that currency conversion transactions may occur not at the time of the bank card transaction, but on the day of settlements between banks - between the foreign acquiring bank that serviced the specific transaction (it owns the POS terminal at the point of sale) and the issuing bank - the owner of your card (a card account is opened with it). It usually takes several days from payment to final interbank settlement, during which the value of the currency and, accordingly, the conversion rate can change dramatically. Accordingly, the real cost of your purchase may also change dramatically, down or up. This feature must be taken into account if there is a need to carry out non-cash transactions using a ruble bank card in foreign retail outlets or online stores. For details about the banking transaction and the final settlement between banks in an accessible form, see.