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USDRUB.FOREX
USD/RUB
Foreign Exchange · Currency Pair
FX pair representing USD priced in RUB; historical QA should remove known outliers prior to 1996-01-05.MoreShow less

Forex Fundamentals

USD/RUB: Compare the economic areas behind a currency pair: policy interest rates, inflation, real GDP growth, government yields, money supply and upcoming releases, with dated historical charts and source definitions.

The forces behind USD / RUB

USD/RUB forex fundamentals. Two economies.
One exchange rate.

Follow the rates, prices and economic momentum that shape the relationship between USD and RUB.

Source-backed economic data ·

At a glance

The comparison that matters

Latest reported values · periods may differ
Policy interest rate
USD4.00%
RUB14.00%

Central-bank benchmark. US uses the Fed target upper bound.

Consumer inflation
USD3.74%
RUB6.30%

Annual change in consumer prices; CPI / euro-area HICP.

Economic growth
USD2.07%
RUB1.30%

Real GDP change versus the same quarter a year earlier.

10-year government yield
USD4.90%
RUB16.54%

Longer-term borrowing cost. Euro area uses Germany.

01 / Monetary policy

Follow the interest-rate cycle

When central banks move at different speeds, the gap between currencies changes.

Policy rates over time

% per year
USD target midpoint 3.88%RUB policy benchmark 14.00%

USD target midpoint: Dec 1996 – Nov 2026 · RUB policy benchmark: Dec 1996 – Nov 2026 · Quarterly samples + latest

Policy rate historyUSD target midpoint, latest 3.88% on 2026-11-03; RUB policy benchmark, latest 14.00% on 2026-11-03. Exact values are available in the data table below.020406080Dec 1996Jun 2004Dec 2011May 2019Nov 2026USD target midpoint · Dec 1996: 5.25%USD target midpoint · Mar 1997: 5.50%USD target midpoint · Jun 1997: 5.50%USD target midpoint · Sept 1997: 5.50%USD target midpoint · Dec 1997: 5.50%USD target midpoint · Mar 1998: 5.50%USD target midpoint · Jun 1998: 5.50%USD target midpoint · Sept 1998: 5.25%USD target midpoint · Dec 1998: 4.75%USD target midpoint · Mar 1999: 4.75%USD target midpoint · Jun 1999: 5.00%USD target midpoint · Sept 1999: 5.25%USD target midpoint · Dec 1999: 5.50%USD target midpoint · Mar 2000: 6.00%USD target midpoint · Jun 2000: 6.50%USD target midpoint · Sept 2000: 6.50%USD target midpoint · Dec 2000: 6.50%USD target midpoint · Mar 2001: 5.00%USD target midpoint · Jun 2001: 3.75%USD target midpoint · Sept 2001: 3.00%USD target midpoint · Dec 2001: 1.75%USD target midpoint · Mar 2002: 1.75%USD target midpoint · Jun 2002: 1.75%USD target midpoint · Sept 2002: 1.75%USD target midpoint · Dec 2002: 1.25%USD target midpoint · Mar 2003: 1.25%USD target midpoint · Jun 2003: 1.00%USD target midpoint · Sept 2003: 1.00%USD target midpoint · Dec 2003: 1.00%USD target midpoint · Mar 2004: 1.00%USD target midpoint · Jun 2004: 1.25%USD target midpoint · Sept 2004: 1.75%USD target midpoint · Dec 2004: 2.25%USD target midpoint · Mar 2005: 2.75%USD target midpoint · Jun 2005: 3.25%USD target midpoint · Sept 2005: 3.75%USD target midpoint · Dec 2005: 4.25%USD target midpoint · Mar 2006: 4.75%USD target midpoint · Jun 2006: 5.25%USD target midpoint · Sept 2006: 5.25%USD target midpoint · Dec 2006: 5.25%USD target midpoint · Mar 2007: 5.25%USD target midpoint · Jun 2007: 5.25%USD target midpoint · Sept 2007: 4.75%USD target midpoint · Dec 2007: 4.25%USD target midpoint · Mar 2008: 2.25%USD target midpoint · Jun 2008: 2.00%USD target midpoint · Sept 2008: 2.00%USD target midpoint · Dec 2008: 0.13%USD target midpoint · Mar 2009: 0.13%USD target midpoint · Jun 2009: 0.13%USD target midpoint · Sept 2009: 0.13%USD target midpoint · Dec 2009: 0.13%USD target midpoint · Mar 2010: 0.13%USD target midpoint · Jun 2010: 0.13%USD target midpoint · Sept 2010: 0.13%USD target midpoint · Dec 2010: 0.13%USD target midpoint · Mar 2011: 0.13%USD target midpoint · Jun 2011: 0.13%USD target midpoint · Sept 2011: 0.13%USD target midpoint · Dec 2011: 0.13%USD target midpoint · Mar 2012: 0.13%USD target midpoint · Jun 2012: 0.13%USD target midpoint · Sept 2012: 0.13%USD target midpoint · Dec 2012: 0.13%USD target midpoint · Mar 2013: 0.13%USD target midpoint · Jun 2013: 0.13%USD target midpoint · Sept 2013: 0.13%USD target midpoint · Dec 2013: 0.13%USD target midpoint · Mar 2014: 0.13%USD target midpoint · Jun 2014: 0.13%USD target midpoint · Sept 2014: 0.13%USD target midpoint · Dec 2014: 0.13%USD target midpoint · Mar 2015: 0.13%USD target midpoint · Jun 2015: 0.13%USD target midpoint · Sept 2015: 0.13%USD target midpoint · Dec 2015: 0.38%USD target midpoint · Mar 2016: 0.38%USD target midpoint · Jun 2016: 0.38%USD target midpoint · Sept 2016: 0.38%USD target midpoint · Dec 2016: 0.63%USD target midpoint · Mar 2017: 0.88%USD target midpoint · Jun 2017: 1.13%USD target midpoint · Sept 2017: 1.13%USD target midpoint · Dec 2017: 1.38%USD target midpoint · Mar 2018: 1.63%USD target midpoint · Jun 2018: 1.88%USD target midpoint · Sept 2018: 2.13%USD target midpoint · Dec 2018: 2.38%USD target midpoint · Mar 2019: 2.38%USD target midpoint · Jun 2019: 2.38%USD target midpoint · Sept 2019: 1.88%USD target midpoint · Dec 2019: 1.63%USD target midpoint · Mar 2020: 0.13%USD target midpoint · Jun 2020: 0.13%USD target midpoint · Sept 2020: 0.13%USD target midpoint · Dec 2020: 0.13%USD target midpoint · Mar 2021: 0.13%USD target midpoint · Jun 2021: 0.13%USD target midpoint · Sept 2021: 0.13%USD target midpoint · Dec 2021: 0.13%USD target midpoint · Mar 2022: 0.38%USD target midpoint · Jun 2022: 1.63%USD target midpoint · Sept 2022: 3.13%USD target midpoint · Dec 2022: 4.38%USD target midpoint · Mar 2023: 4.88%USD target midpoint · Jun 2023: 5.13%USD target midpoint · Sept 2023: 5.38%USD target midpoint · Dec 2023: 5.38%USD target midpoint · Mar 2024: 5.38%USD target midpoint · Jun 2024: 5.38%USD target midpoint · Sept 2024: 4.88%USD target midpoint · Dec 2024: 4.38%USD target midpoint · Mar 2025: 4.38%USD target midpoint · Jun 2025: 4.38%USD target midpoint · Sept 2025: 4.13%USD target midpoint · Dec 2025: 3.63%USD target midpoint · Mar 2026: 3.63%USD target midpoint · Jun 2026: 3.63%USD target midpoint · Sept 2026: 3.88%USD target midpoint · Nov 2026: 3.88%RUB policy benchmark · Dec 1996: 48.00%RUB policy benchmark · Mar 1997: 42.00%RUB policy benchmark · Jun 1997: 24.00%RUB policy benchmark · Sept 1997: 24.00%RUB policy benchmark · Dec 1997: 28.00%RUB policy benchmark · Mar 1998: 30.00%RUB policy benchmark · Jun 1998: 80.00%RUB policy benchmark · Sept 1998: 60.00%RUB policy benchmark · Dec 1998: 60.00%RUB policy benchmark · Mar 1999: 60.00%RUB policy benchmark · Jun 1999: 55.00%RUB policy benchmark · Sept 1999: 55.00%RUB policy benchmark · Dec 1999: 55.00%RUB policy benchmark · Mar 2000: 33.00%RUB policy benchmark · Jun 2000: 33.00%RUB policy benchmark · Sept 2000: 28.00%RUB policy benchmark · Dec 2000: 25.00%RUB policy benchmark · Mar 2001: 25.00%RUB policy benchmark · Jun 2001: 25.00%RUB policy benchmark · Sept 2001: 25.00%RUB policy benchmark · Dec 2001: 25.00%RUB policy benchmark · Mar 2002: 25.00%RUB policy benchmark · Jun 2002: 23.00%RUB policy benchmark · Sept 2002: 21.00%RUB policy benchmark · Dec 2002: 21.00%RUB policy benchmark · Mar 2003: 18.00%RUB policy benchmark · Jun 2003: 16.00%RUB policy benchmark · Sept 2003: 16.00%RUB policy benchmark · Dec 2003: 16.00%RUB policy benchmark · Mar 2004: 14.00%RUB policy benchmark · Jun 2004: 13.00%RUB policy benchmark · Sept 2004: 13.00%RUB policy benchmark · Dec 2004: 13.00%RUB policy benchmark · Mar 2005: 13.00%RUB policy benchmark · Jun 2005: 13.00%RUB policy benchmark · Sept 2005: 13.00%RUB policy benchmark · Dec 2005: 12.00%RUB policy benchmark · Mar 2006: 12.00%RUB policy benchmark · Jun 2006: 11.50%RUB policy benchmark · Sept 2006: 11.50%RUB policy benchmark · Dec 2006: 11.00%RUB policy benchmark · Mar 2007: 10.50%RUB policy benchmark · Jun 2007: 10.00%RUB policy benchmark · Sept 2007: 10.00%RUB policy benchmark · Dec 2007: 10.00%RUB policy benchmark · Mar 2008: 10.25%RUB policy benchmark · Jun 2008: 10.75%RUB policy benchmark · Sept 2008: 11.00%RUB policy benchmark · Dec 2008: 13.00%RUB policy benchmark · Mar 2009: 13.00%RUB policy benchmark · Jun 2009: 11.50%RUB policy benchmark · Sept 2009: 10.00%RUB policy benchmark · Dec 2009: 8.75%RUB policy benchmark · Mar 2010: 8.25%RUB policy benchmark · Jun 2010: 7.75%RUB policy benchmark · Sept 2010: 7.75%RUB policy benchmark · Dec 2010: 7.75%RUB policy benchmark · Mar 2011: 8.00%RUB policy benchmark · Jun 2011: 8.25%RUB policy benchmark · Sept 2011: 8.25%RUB policy benchmark · Dec 2011: 8.00%RUB policy benchmark · Mar 2012: 8.00%RUB policy benchmark · Jun 2012: 8.25%RUB policy benchmark · Sept 2012: 8.25%RUB policy benchmark · Dec 2012: 8.25%RUB policy benchmark · Mar 2013: 8.25%RUB policy benchmark · Jun 2013: 8.25%RUB policy benchmark · Sept 2013: 5.50%RUB policy benchmark · Dec 2013: 5.50%RUB policy benchmark · Mar 2014: 7.00%RUB policy benchmark · Jun 2014: 7.50%RUB policy benchmark · Sept 2014: 8.00%RUB policy benchmark · Dec 2014: 17.00%RUB policy benchmark · Mar 2015: 14.00%RUB policy benchmark · Jun 2015: 11.50%RUB policy benchmark · Sept 2015: 11.00%RUB policy benchmark · Dec 2015: 11.00%RUB policy benchmark · Mar 2016: 11.00%RUB policy benchmark · Jun 2016: 10.50%RUB policy benchmark · Sept 2016: 10.00%RUB policy benchmark · Dec 2016: 10.00%RUB policy benchmark · Mar 2017: 9.75%RUB policy benchmark · Jun 2017: 9.00%RUB policy benchmark · Sept 2017: 8.50%RUB policy benchmark · Dec 2017: 7.75%RUB policy benchmark · Mar 2018: 7.25%RUB policy benchmark · Jun 2018: 7.25%RUB policy benchmark · Sept 2018: 7.50%RUB policy benchmark · Dec 2018: 7.75%RUB policy benchmark · Mar 2019: 7.75%RUB policy benchmark · Jun 2019: 7.50%RUB policy benchmark · Sept 2019: 7.00%RUB policy benchmark · Dec 2019: 6.25%RUB policy benchmark · Mar 2020: 6.00%RUB policy benchmark · Jun 2020: 4.50%RUB policy benchmark · Sept 2020: 4.25%RUB policy benchmark · Dec 2020: 4.25%RUB policy benchmark · Mar 2021: 4.50%RUB policy benchmark · Jun 2021: 5.50%RUB policy benchmark · Sept 2021: 6.75%RUB policy benchmark · Dec 2021: 8.50%RUB policy benchmark · Mar 2022: 20.00%RUB policy benchmark · Jun 2022: 9.50%RUB policy benchmark · Sept 2022: 7.50%RUB policy benchmark · Dec 2022: 7.50%RUB policy benchmark · Mar 2023: 7.50%RUB policy benchmark · Jun 2023: 7.50%RUB policy benchmark · Sept 2023: 13.00%RUB policy benchmark · Dec 2023: 16.00%RUB policy benchmark · Mar 2024: 16.00%RUB policy benchmark · Jun 2024: 16.00%RUB policy benchmark · Sept 2024: 19.00%RUB policy benchmark · Dec 2024: 21.00%RUB policy benchmark · Mar 2025: 21.00%RUB policy benchmark · Jun 2025: 20.00%RUB policy benchmark · Sept 2025: 17.00%RUB policy benchmark · Dec 2025: 16.00%RUB policy benchmark · Mar 2026: 15.00%RUB policy benchmark · Jun 2026: 14.25%RUB policy benchmark · Sept 2026: 14.00%RUB policy benchmark · Nov 2026: 14.00%Hover a point, or use the data table for exact values.
View chart data ↓
Policy rate history · percent
PeriodCurrencyValue
2026-11-03USD target midpoint3.88%
2026-11-03RUB policy benchmark14.00%
2026-09-30USD target midpoint3.88%
2026-09-30RUB policy benchmark14.00%
2026-06-30USD target midpoint3.63%
2026-06-30RUB policy benchmark14.25%
2026-03-31USD target midpoint3.63%
2026-03-31RUB policy benchmark15.00%
2025-12-31USD target midpoint3.63%
2025-12-31RUB policy benchmark16.00%
2025-09-30USD target midpoint4.13%
2025-09-30RUB policy benchmark17.00%
2025-06-30USD target midpoint4.38%
2025-06-30RUB policy benchmark20.00%
2025-03-31USD target midpoint4.38%
2025-03-31RUB policy benchmark21.00%
2024-12-31USD target midpoint4.38%
2024-12-31RUB policy benchmark21.00%
2024-09-30USD target midpoint4.88%
2024-09-30RUB policy benchmark19.00%
2024-06-30USD target midpoint5.38%
2024-06-28RUB policy benchmark16.00%
2024-03-31USD target midpoint5.38%
2024-03-29RUB policy benchmark16.00%
2023-12-31USD target midpoint5.38%
2023-12-29RUB policy benchmark16.00%
2023-09-30USD target midpoint5.38%
2023-09-29RUB policy benchmark13.00%
2023-06-30USD target midpoint5.13%
2023-06-30RUB policy benchmark7.50%
2023-03-31USD target midpoint4.88%
2023-03-31RUB policy benchmark7.50%
2022-12-31USD target midpoint4.38%
2022-12-30RUB policy benchmark7.50%
2022-09-30USD target midpoint3.13%
2022-09-30RUB policy benchmark7.50%
2022-06-30USD target midpoint1.63%
2022-06-30RUB policy benchmark9.50%
2022-03-31USD target midpoint0.38%
2022-03-31RUB policy benchmark20.00%
2021-12-31USD target midpoint0.13%
2021-12-31RUB policy benchmark8.50%
2021-09-30USD target midpoint0.13%
2021-09-30RUB policy benchmark6.75%
2021-06-30USD target midpoint0.13%
2021-06-30RUB policy benchmark5.50%
2021-03-31USD target midpoint0.13%
2021-03-31RUB policy benchmark4.50%
2020-12-31USD target midpoint0.13%
2020-12-31RUB policy benchmark4.25%
2020-09-30USD target midpoint0.13%
2020-09-30RUB policy benchmark4.25%
2020-06-30USD target midpoint0.13%
2020-06-30RUB policy benchmark4.50%
2020-03-31USD target midpoint0.13%
2020-03-31RUB policy benchmark6.00%
2019-12-31USD target midpoint1.63%
2019-12-31RUB policy benchmark6.25%
2019-09-30USD target midpoint1.88%
2019-09-30RUB policy benchmark7.00%
2019-06-30USD target midpoint2.38%
2019-06-28RUB policy benchmark7.50%
2019-03-31USD target midpoint2.38%
2019-03-29RUB policy benchmark7.75%
2018-12-31USD target midpoint2.38%
2018-12-31RUB policy benchmark7.75%
2018-09-30USD target midpoint2.13%
2018-09-28RUB policy benchmark7.50%
2018-06-30USD target midpoint1.88%
2018-06-29RUB policy benchmark7.25%
2018-03-31USD target midpoint1.63%
2018-03-30RUB policy benchmark7.25%
2017-12-31USD target midpoint1.38%
2017-12-29RUB policy benchmark7.75%
2017-09-30USD target midpoint1.13%
2017-09-29RUB policy benchmark8.50%
2017-06-30USD target midpoint1.13%
2017-06-30RUB policy benchmark9.00%
2017-03-31USD target midpoint0.88%
2017-03-28RUB policy benchmark9.75%
2016-12-31USD target midpoint0.63%
2016-12-30RUB policy benchmark10.00%
2016-09-30USD target midpoint0.38%
2016-09-30RUB policy benchmark10.00%
2016-06-30USD target midpoint0.38%
2016-06-30RUB policy benchmark10.50%
2016-03-31USD target midpoint0.38%
2016-03-31RUB policy benchmark11.00%
2015-12-31USD target midpoint0.38%
2015-12-31RUB policy benchmark11.00%
2015-09-30USD target midpoint0.13%
2015-09-30RUB policy benchmark11.00%
2015-06-30USD target midpoint0.13%
2015-06-30RUB policy benchmark11.50%
2015-03-31USD target midpoint0.13%
2015-03-31RUB policy benchmark14.00%
2014-12-31USD target midpoint0.13%
2014-12-31RUB policy benchmark17.00%
2014-09-30USD target midpoint0.13%
2014-09-30RUB policy benchmark8.00%
2014-06-30USD target midpoint0.13%
2014-06-30RUB policy benchmark7.50%
2014-03-31USD target midpoint0.13%
2014-03-31RUB policy benchmark7.00%
2013-12-31USD target midpoint0.13%
2013-12-31RUB policy benchmark5.50%
2013-09-30USD target midpoint0.13%
2013-09-30RUB policy benchmark5.50%
2013-06-30USD target midpoint0.13%
2013-06-28RUB policy benchmark8.25%
2013-03-31USD target midpoint0.13%
2013-03-29RUB policy benchmark8.25%
2012-12-31USD target midpoint0.13%
2012-12-29RUB policy benchmark8.25%
2012-09-30USD target midpoint0.13%
2012-09-28RUB policy benchmark8.25%
2012-06-30USD target midpoint0.13%
2012-06-29RUB policy benchmark8.25%
2012-03-31USD target midpoint0.13%
2012-03-30RUB policy benchmark8.00%
2011-12-31USD target midpoint0.13%
2011-12-30RUB policy benchmark8.00%
2011-09-30USD target midpoint0.13%
2011-09-30RUB policy benchmark8.25%
2011-06-30USD target midpoint0.13%
2011-06-30RUB policy benchmark8.25%
2011-03-31USD target midpoint0.13%
2011-03-31RUB policy benchmark8.00%
2010-12-31USD target midpoint0.13%
2010-12-31RUB policy benchmark7.75%
2010-09-30USD target midpoint0.13%
2010-09-30RUB policy benchmark7.75%
2010-06-30USD target midpoint0.13%
2010-06-30RUB policy benchmark7.75%
2010-03-31USD target midpoint0.13%
2010-03-31RUB policy benchmark8.25%
2009-12-31USD target midpoint0.13%
2009-12-31RUB policy benchmark8.75%
2009-09-30USD target midpoint0.13%
2009-09-30RUB policy benchmark10.00%
2009-06-30USD target midpoint0.13%
2009-06-30RUB policy benchmark11.50%
2009-03-31USD target midpoint0.13%
2009-03-31RUB policy benchmark13.00%
2008-12-31USD target midpoint0.13%
2008-12-31RUB policy benchmark13.00%
2008-09-30USD target midpoint2.00%
2008-09-30RUB policy benchmark11.00%
2008-06-30USD target midpoint2.00%
2008-06-30RUB policy benchmark10.75%
2008-03-31USD target midpoint2.25%
2008-03-31RUB policy benchmark10.25%
2007-12-31USD target midpoint4.25%
2007-12-29RUB policy benchmark10.00%
2007-09-30USD target midpoint4.75%
2007-09-28RUB policy benchmark10.00%
2007-06-30USD target midpoint5.25%
2007-06-29RUB policy benchmark10.00%
2007-03-31USD target midpoint5.25%
2007-03-30RUB policy benchmark10.50%
2006-12-31USD target midpoint5.25%
2006-12-29RUB policy benchmark11.00%
2006-09-30USD target midpoint5.25%
2006-09-29RUB policy benchmark11.50%
2006-06-30USD target midpoint5.25%
2006-06-30RUB policy benchmark11.50%
2006-03-31USD target midpoint4.75%
2006-03-31RUB policy benchmark12.00%
2005-12-31USD target midpoint4.25%
2005-12-30RUB policy benchmark12.00%
2005-09-30USD target midpoint3.75%
2005-09-30RUB policy benchmark13.00%
2005-06-30USD target midpoint3.25%
2005-06-30RUB policy benchmark13.00%
2005-03-31USD target midpoint2.75%
2005-03-31RUB policy benchmark13.00%
2004-12-31USD target midpoint2.25%
2004-12-31RUB policy benchmark13.00%
2004-09-30USD target midpoint1.75%
2004-09-30RUB policy benchmark13.00%
2004-06-30USD target midpoint1.25%
2004-06-30RUB policy benchmark13.00%
2004-03-31USD target midpoint1.00%
2004-03-31RUB policy benchmark14.00%
2003-12-31USD target midpoint1.00%
2003-12-31RUB policy benchmark16.00%
2003-09-30USD target midpoint1.00%
2003-09-30RUB policy benchmark16.00%
2003-06-30USD target midpoint1.00%
2003-06-30RUB policy benchmark16.00%
2003-03-31USD target midpoint1.25%
2003-03-31RUB policy benchmark18.00%
2002-12-31USD target midpoint1.25%
2002-12-31RUB policy benchmark21.00%
2002-09-30USD target midpoint1.75%
2002-09-30RUB policy benchmark21.00%
2002-06-30USD target midpoint1.75%
2002-06-28RUB policy benchmark23.00%
2002-03-31USD target midpoint1.75%
2002-03-29RUB policy benchmark25.00%
2001-12-31USD target midpoint1.75%
2001-12-29RUB policy benchmark25.00%
2001-09-30USD target midpoint3.00%
2001-09-28RUB policy benchmark25.00%
2001-06-30USD target midpoint3.75%
2001-06-29RUB policy benchmark25.00%
2001-03-31USD target midpoint5.00%
2001-03-30RUB policy benchmark25.00%
2000-12-31USD target midpoint6.50%
2000-12-29RUB policy benchmark25.00%
2000-09-30USD target midpoint6.50%
2000-09-29RUB policy benchmark28.00%
2000-06-30USD target midpoint6.50%
2000-06-30RUB policy benchmark33.00%
2000-03-31USD target midpoint6.00%
2000-03-31RUB policy benchmark33.00%
1999-12-31USD target midpoint5.50%
1999-12-31RUB policy benchmark55.00%
1999-09-30USD target midpoint5.25%
1999-09-30RUB policy benchmark55.00%
1999-06-30USD target midpoint5.00%
1999-06-30RUB policy benchmark55.00%
1999-03-31USD target midpoint4.75%
1999-03-31RUB policy benchmark60.00%
1998-12-31USD target midpoint4.75%
1998-12-31RUB policy benchmark60.00%
1998-09-30USD target midpoint5.25%
1998-09-30RUB policy benchmark60.00%
1998-06-30USD target midpoint5.50%
1998-06-30RUB policy benchmark80.00%
1998-03-31USD target midpoint5.50%
1998-03-31RUB policy benchmark30.00%
1997-12-31USD target midpoint5.50%
1997-12-31RUB policy benchmark28.00%
1997-09-30USD target midpoint5.50%
1997-09-30RUB policy benchmark24.00%
1997-06-30USD target midpoint5.50%
1997-06-30RUB policy benchmark24.00%
1997-03-31USD target midpoint5.50%
1997-03-31RUB policy benchmark42.00%
1996-12-31USD target midpoint5.25%
1996-12-31RUB policy benchmark48.00%

USD target midpoint: BIS · RUB policy benchmark: BIS · Quarter-end samples plus the latest observation. Coverage dates are shown above the chart.

History follows the BIS policy benchmark. USD is the Fed target midpoint. Current-rate cards use their labelled benchmarks. Historical instruments can differ; see definitions below.

Historical rate definitions ↓

USD target midpoint: From 19 Dec 1985 onwards: mid-point of the Federal Reserve target rate; from 1 Jul 1954 to 18 Dec 1985: US Fed Funds effective rate.

RUB policy benchmark: From 13 Sept 2013 onwards: official key rate; from 1 Jan 1992 to 12 Sep 2013: official refinancing rate.

02 / Economic momentum

What is happening beneath the currency?

Prices reveal inflation pressure. Growth shows the pace of the underlying economy.

Is inflation cooling?

Annual change, %
USD 3.74%RUB 6.30%

USD: Nov 2006 – Sept 2026 · RUB: Oct 2021 – Sept 2026 · Quarterly samples + latest

Consumer price inflationUSD, latest 3.74% on 2026-09-30; RUB, latest 6.30% on 2026-09-30. Exact values are available in the data table below.-505101520Nov 2006Nov 2011Oct 2016Oct 2021Sept 2026USD · Nov 2006: 1.97%USD · Dec 2006: 2.54%USD · Mar 2007: 2.78%USD · Jun 2007: 2.69%USD · Sept 2007: 2.76%USD · Dec 2007: 4.08%USD · Mar 2008: 3.98%USD · Jun 2008: 5.02%USD · Sept 2008: 4.94%USD · Dec 2008: 0.09%USD · Mar 2009: -0.38%USD · Jun 2009: -1.43%USD · Sept 2009: -1.29%USD · Dec 2009: 2.72%USD · Mar 2010: 2.31%USD · Jun 2010: 1.05%USD · Sept 2010: 1.14%USD · Dec 2010: 1.50%USD · Mar 2011: 2.68%USD · Jun 2011: 3.56%USD · Sept 2011: 3.87%USD · Dec 2011: 2.96%USD · Mar 2012: 2.65%USD · Jun 2012: 1.66%USD · Sept 2012: 1.99%USD · Dec 2012: 1.74%USD · Mar 2013: 1.47%USD · Jun 2013: 1.75%USD · Sept 2013: 1.18%USD · Dec 2013: 1.50%USD · Mar 2014: 1.51%USD · Jun 2014: 2.07%USD · Sept 2014: 1.66%USD · Dec 2014: 0.76%USD · Mar 2015: -0.07%USD · Jun 2015: 0.12%USD · Sept 2015: -0.04%USD · Dec 2015: 0.73%USD · Mar 2016: 0.85%USD · Jun 2016: 1.00%USD · Sept 2016: 1.46%USD · Dec 2016: 2.07%USD · Mar 2017: 2.38%USD · Jun 2017: 1.63%USD · Sept 2017: 2.23%USD · Dec 2017: 2.11%USD · Mar 2018: 2.36%USD · Jun 2018: 2.87%USD · Sept 2018: 2.28%USD · Dec 2018: 1.91%USD · Mar 2019: 1.86%USD · Jun 2019: 1.65%USD · Sept 2019: 1.71%USD · Dec 2019: 2.29%USD · Mar 2020: 1.54%USD · Jun 2020: 0.65%USD · Sept 2020: 1.37%USD · Dec 2020: 1.36%USD · Mar 2021: 2.62%USD · Jun 2021: 5.39%USD · Sept 2021: 5.39%USD · Dec 2021: 7.04%USD · Mar 2022: 8.54%USD · Jun 2022: 9.06%USD · Sept 2022: 8.20%USD · Dec 2022: 6.45%USD · Mar 2023: 4.98%USD · Jun 2023: 2.97%USD · Sept 2023: 3.70%USD · Dec 2023: 3.35%USD · Mar 2024: 3.48%USD · Jun 2024: 2.97%USD · Sept 2024: 2.44%USD · Dec 2024: 2.89%USD · Mar 2025: 2.39%USD · Jun 2025: 2.67%USD · Sept 2025: 3.01%USD · Dec 2025: 2.68%USD · Mar 2026: 3.26%USD · Jun 2026: 3.53%USD · Sept 2026: 3.74%RUB · Oct 2021: 8.13%RUB · Dec 2021: 8.40%RUB · Mar 2022: 16.70%RUB · Jun 2022: 15.90%RUB · Sept 2022: 13.70%RUB · Dec 2022: 11.90%RUB · Mar 2023: 3.50%RUB · Jun 2023: 3.20%RUB · Sept 2023: 6.00%RUB · Dec 2023: 7.40%RUB · Mar 2024: 7.70%RUB · Jun 2024: 8.60%RUB · Sept 2024: 8.60%RUB · Dec 2024: 9.50%RUB · Mar 2025: 10.30%RUB · Jun 2025: 9.40%RUB · Sept 2025: 8.00%RUB · Dec 2025: 5.60%RUB · Mar 2026: 5.90%RUB · Jun 2026: 6.00%RUB · Sept 2026: 6.30%Hover a point, or use the data table for exact values.
View chart data ↓
Consumer price inflation · percent
PeriodCurrencyValue
2026-09-30USD3.74%
2026-09-30RUB6.30%
2026-06-30USD3.53%
2026-06-30RUB6.00%
2026-03-31USD3.26%
2026-03-31RUB5.90%
2025-12-31USD2.68%
2025-12-31RUB5.60%
2025-09-30USD3.01%
2025-09-30RUB8.00%
2025-06-30USD2.67%
2025-06-30RUB9.40%
2025-03-31USD2.39%
2025-03-31RUB10.30%
2024-12-31USD2.89%
2024-12-31RUB9.50%
2024-09-30USD2.44%
2024-09-30RUB8.60%
2024-06-30USD2.97%
2024-06-30RUB8.60%
2024-03-31USD3.48%
2024-03-31RUB7.70%
2023-12-31USD3.35%
2023-12-31RUB7.40%
2023-09-30USD3.70%
2023-09-30RUB6.00%
2023-06-30USD2.97%
2023-06-30RUB3.20%
2023-03-31USD4.98%
2023-03-31RUB3.50%
2022-12-31USD6.45%
2022-12-31RUB11.90%
2022-09-30USD8.20%
2022-09-30RUB13.70%
2022-06-30USD9.06%
2022-06-30RUB15.90%
2022-03-31USD8.54%
2022-03-31RUB16.70%
2021-12-31USD7.04%
2021-12-31RUB8.40%
2021-10-31RUB8.13%
2021-09-30USD5.39%
2021-06-30USD5.39%
2021-03-31USD2.62%
2020-12-31USD1.36%
2020-09-30USD1.37%
2020-06-30USD0.65%
2020-03-31USD1.54%
2019-12-31USD2.29%
2019-09-30USD1.71%
2019-06-30USD1.65%
2019-03-31USD1.86%
2018-12-31USD1.91%
2018-09-30USD2.28%
2018-06-30USD2.87%
2018-03-31USD2.36%
2017-12-31USD2.11%
2017-09-30USD2.23%
2017-06-30USD1.63%
2017-03-31USD2.38%
2016-12-31USD2.07%
2016-09-30USD1.46%
2016-06-30USD1.00%
2016-03-31USD0.85%
2015-12-31USD0.73%
2015-09-30USD-0.04%
2015-06-30USD0.12%
2015-03-31USD-0.07%
2014-12-31USD0.76%
2014-09-30USD1.66%
2014-06-30USD2.07%
2014-03-31USD1.51%
2013-12-31USD1.50%
2013-09-30USD1.18%
2013-06-30USD1.75%
2013-03-31USD1.47%
2012-12-31USD1.74%
2012-09-30USD1.99%
2012-06-30USD1.66%
2012-03-31USD2.65%
2011-12-31USD2.96%
2011-09-30USD3.87%
2011-06-30USD3.56%
2011-03-31USD2.68%
2010-12-31USD1.50%
2010-09-30USD1.14%
2010-06-30USD1.05%
2010-03-31USD2.31%
2009-12-31USD2.72%
2009-09-30USD-1.29%
2009-06-30USD-1.43%
2009-03-31USD-0.38%
2008-12-31USD0.09%
2008-09-30USD4.94%
2008-06-30USD5.02%
2008-03-31USD3.98%
2007-12-31USD4.08%
2007-09-30USD2.76%
2007-06-30USD2.69%
2007-03-31USD2.78%
2006-12-31USD2.54%
2006-11-30USD1.97%

Falling inflation means prices are rising more slowly—not necessarily falling.

USD: OECD · RUB: Published economic releases · Headline measures; baskets differ.

Which economy is growing faster?

Year over year, %
USD 2.07%RUB 1.30%

USD: Dec 2016 – Sept 2026 · RUB: Sept 2021 – Jun 2026

Real GDP growthUSD, latest 2.07% on 2026-09-30; RUB, latest 1.30% on 2026-06-30. Exact values are available in the data table below.-10-5051015Dec 2016Jun 2019Nov 2021Apr 2024Sept 2026USD · Dec 2016: 2.18%USD · Mar 2017: 2.09%USD · Jun 2017: 2.33%USD · Sept 2017: 2.41%USD · Dec 2017: 2.99%USD · Mar 2018: 3.33%USD · Jun 2018: 3.30%USD · Sept 2018: 3.13%USD · Dec 2018: 2.13%USD · Mar 2019: 1.93%USD · Jun 2019: 2.24%USD · Sept 2019: 2.80%USD · Dec 2019: 3.35%USD · Mar 2020: 1.36%USD · Jun 2020: -7.40%USD · Sept 2020: -1.36%USD · Dec 2020: -0.92%USD · Mar 2021: 1.92%USD · Jun 2021: 12.56%USD · Sept 2021: 5.27%USD · Mar 2022: 3.98%USD · Jun 2022: 2.34%USD · Sept 2022: 2.23%USD · Dec 2022: 1.23%USD · Mar 2023: 2.33%USD · Jun 2023: 2.74%USD · Sept 2023: 3.18%USD · Dec 2023: 3.42%USD · Mar 2024: 2.93%USD · Jun 2024: 3.29%USD · Sept 2024: 2.95%USD · Dec 2024: 2.64%USD · Mar 2025: 2.31%USD · Jun 2025: 2.42%USD · Sept 2025: 2.60%USD · Dec 2025: 2.05%USD · Mar 2026: 2.64%USD · Jun 2026: 2.19%USD · Sept 2026: 2.07%USD · Dec 2016: 2.18%USD · Mar 2017: 2.09%USD · Jun 2017: 2.33%USD · Sept 2017: 2.41%USD · Dec 2017: 2.99%USD · Mar 2018: 3.33%USD · Jun 2018: 3.30%USD · Sept 2018: 3.13%USD · Dec 2018: 2.13%USD · Mar 2019: 1.93%USD · Jun 2019: 2.24%USD · Sept 2019: 2.80%USD · Dec 2019: 3.35%USD · Mar 2020: 1.36%USD · Jun 2020: -7.40%USD · Sept 2020: -1.36%USD · Dec 2020: -0.92%USD · Mar 2021: 1.92%USD · Jun 2021: 12.56%USD · Sept 2021: 5.27%USD · Mar 2022: 3.98%USD · Jun 2022: 2.34%USD · Sept 2022: 2.23%USD · Dec 2022: 1.23%USD · Mar 2023: 2.33%USD · Jun 2023: 2.74%USD · Sept 2023: 3.18%USD · Dec 2023: 3.42%USD · Mar 2024: 2.93%USD · Jun 2024: 3.29%USD · Sept 2024: 2.95%USD · Dec 2024: 2.64%USD · Mar 2025: 2.31%USD · Jun 2025: 2.42%USD · Sept 2025: 2.60%USD · Dec 2025: 2.05%USD · Mar 2026: 2.64%USD · Jun 2026: 2.19%USD · Sept 2026: 2.07%RUB · Sept 2021: 4.30%RUB · Dec 2021: 5.00%RUB · Mar 2022: 3.50%RUB · Jun 2022: -4.10%RUB · Sept 2022: -3.70%RUB · Dec 2022: -2.70%RUB · Mar 2023: -1.80%RUB · Jun 2023: 4.90%RUB · Sept 2023: 5.50%RUB · Dec 2023: 4.90%RUB · Mar 2024: 5.40%RUB · Jun 2024: 4.10%RUB · Sept 2024: 3.10%RUB · Dec 2024: 4.50%RUB · Mar 2025: 1.40%RUB · Jun 2025: 1.10%RUB · Sept 2025: 0.60%RUB · Dec 2025: 1.00%RUB · Mar 2026: -0.20%RUB · Jun 2026: 1.30%RUB · Sept 2021: 4.30%RUB · Dec 2021: 5.00%RUB · Mar 2022: 3.50%RUB · Jun 2022: -4.10%RUB · Sept 2022: -3.70%RUB · Dec 2022: -2.70%RUB · Mar 2023: -1.80%RUB · Jun 2023: 4.90%RUB · Sept 2023: 5.50%RUB · Dec 2023: 4.90%RUB · Mar 2024: 5.40%RUB · Jun 2024: 4.10%RUB · Sept 2024: 3.10%RUB · Dec 2024: 4.50%RUB · Mar 2025: 1.40%RUB · Jun 2025: 1.10%RUB · Sept 2025: 0.60%RUB · Dec 2025: 1.00%RUB · Mar 2026: -0.20%RUB · Jun 2026: 1.30%Hover a point, or use the data table for exact values.
View chart data ↓
Real GDP growth · percent
PeriodCurrencyValue
2026-09-30USD2.07%
2026-06-30USD2.19%
2026-06-30RUB1.30%
2026-03-31USD2.64%
2026-03-31RUB-0.20%
2025-12-31USD2.05%
2025-12-31RUB1.00%
2025-09-30USD2.60%
2025-09-30RUB0.60%
2025-06-30USD2.42%
2025-06-30RUB1.10%
2025-03-31USD2.31%
2025-03-31RUB1.40%
2024-12-31USD2.64%
2024-12-31RUB4.50%
2024-09-30USD2.95%
2024-09-30RUB3.10%
2024-06-30USD3.29%
2024-06-30RUB4.10%
2024-03-31USD2.93%
2024-03-31RUB5.40%
2023-12-31USD3.42%
2023-12-31RUB4.90%
2023-09-30USD3.18%
2023-09-30RUB5.50%
2023-06-30USD2.74%
2023-06-30RUB4.90%
2023-03-31USD2.33%
2023-03-31RUB-1.80%
2022-12-31USD1.23%
2022-12-31RUB-2.70%
2022-09-30USD2.23%
2022-09-30RUB-3.70%
2022-06-30USD2.34%
2022-06-30RUB-4.10%
2022-03-31USD3.98%
2022-03-31RUB3.50%
2021-12-31RUB5.00%
2021-09-30USD5.27%
2021-09-30RUB4.30%
2021-06-30USD12.56%
2021-03-31USD1.92%
2020-12-31USD-0.92%
2020-09-30USD-1.36%
2020-06-30USD-7.40%
2020-03-31USD1.36%
2019-12-31USD3.35%
2019-09-30USD2.80%
2019-06-30USD2.24%
2019-03-31USD1.93%
2018-12-31USD2.13%
2018-09-30USD3.13%
2018-06-30USD3.30%
2018-03-31USD3.33%
2017-12-31USD2.99%
2017-09-30USD2.41%
2017-06-30USD2.33%
2017-03-31USD2.09%
2016-12-31USD2.18%

Bars above zero show a larger economy than a year earlier. Below zero indicates contraction.

USD: OECD · RUB: Published economic releases · Quarterly observations · Max shows all GDP history in this publication. Euro-area series uses EA20.

03 / Money & liquidity

Follow the layers
of money.

Choose the aggregate, then compare its expansion. The index starts at 100 so different currencies can be read on the same scale.

M1 · Ready to spend
Cash and immediately accessible deposits. US M1 expanded in May 2020 to include savings deposits; the earlier definition stays separate.

M2 · Money plus liquid savings
Includes M1 and additional savings or short-term deposits. National definitions differ.

M3 · The broader layer
Where published, includes M2 and selected larger deposits or marketable instruments. The US stopped publishing M3 in 2006.

USD M223.41 trillion USD

M1 is included in M2, and M2 in M3 where defined. Do not sum these layers. Amounts in different currencies are not directly comparable.

M2 relative expansion

USD 334.38

USD: Oct 2006 – Sept 2026 · Quarterly samples + latest

M2 indexed to a common starting monthUSD, latest 334.38 index points on 2026-09-30. Exact values are available in the data table below.0100200300400Oct 2006Oct 2011Oct 2016Oct 2021Sept 2026USD · Oct 2006: 100.00 index pointsUSD · Dec 2006: 101.10 index pointsUSD · Mar 2007: 102.32 index pointsUSD · Jun 2007: 104.12 index pointsUSD · Sept 2007: 105.88 index pointsUSD · Dec 2007: 106.86 index pointsUSD · Mar 2008: 109.47 index pointsUSD · Jun 2008: 110.64 index pointsUSD · Sept 2008: 112.45 index pointsUSD · Dec 2008: 117.15 index pointsUSD · Mar 2009: 119.69 index pointsUSD · Jun 2009: 120.86 index pointsUSD · Sept 2009: 120.86 index pointsUSD · Dec 2009: 121.54 index pointsUSD · Mar 2010: 121.66 index pointsUSD · Jun 2010: 123.26 index pointsUSD · Sept 2010: 124.53 index pointsUSD · Dec 2010: 125.99 index pointsUSD · Mar 2011: 128.07 index pointsUSD · Jun 2011: 131.16 index pointsUSD · Sept 2011: 136.43 index pointsUSD · Dec 2011: 138.29 index pointsUSD · Mar 2012: 140.66 index pointsUSD · Jun 2012: 143.15 index pointsUSD · Sept 2012: 146.08 index pointsUSD · Dec 2012: 149.75 index pointsUSD · Mar 2013: 151.08 index pointsUSD · Jun 2013: 152.89 index pointsUSD · Sept 2013: 155.18 index pointsUSD · Dec 2013: 157.99 index pointsUSD · Mar 2014: 160.36 index pointsUSD · Jun 2014: 162.79 index pointsUSD · Sept 2014: 164.53 index pointsUSD · Dec 2014: 167.40 index pointsUSD · Mar 2015: 170.22 index pointsUSD · Jun 2015: 171.68 index pointsUSD · Sept 2015: 173.84 index pointsUSD · Dec 2015: 177.00 index pointsUSD · Mar 2016: 180.83 index pointsUSD · Jun 2016: 183.51 index pointsUSD · Sept 2016: 186.41 index pointsUSD · Dec 2016: 189.09 index pointsUSD · Mar 2017: 192.29 index pointsUSD · Jun 2017: 193.90 index pointsUSD · Sept 2017: 196.27 index pointsUSD · Dec 2017: 198.33 index pointsUSD · Mar 2018: 200.15 index pointsUSD · Jun 2018: 201.84 index pointsUSD · Sept 2018: 203.42 index pointsUSD · Dec 2018: 205.54 index pointsUSD · Mar 2019: 207.93 index pointsUSD · Jun 2019: 211.35 index pointsUSD · Sept 2019: 214.90 index pointsUSD · Dec 2019: 219.24 index pointsUSD · Mar 2020: 228.99 index pointsUSD · Jun 2020: 259.64 index pointsUSD · Sept 2020: 265.71 index pointsUSD · Dec 2020: 273.05 index pointsUSD · Mar 2021: 283.84 index pointsUSD · Jun 2021: 292.38 index pointsUSD · Sept 2021: 299.70 index pointsUSD · Dec 2021: 307.09 index pointsUSD · Mar 2022: 311.17 index pointsUSD · Jun 2022: 309.15 index pointsUSD · Sept 2022: 307.64 index pointsUSD · Dec 2022: 304.10 index pointsUSD · Mar 2023: 299.09 index pointsUSD · Jun 2023: 297.04 index pointsUSD · Sept 2023: 296.39 index pointsUSD · Dec 2023: 296.77 index pointsUSD · Mar 2024: 299.42 index pointsUSD · Jun 2024: 300.92 index pointsUSD · Sept 2024: 303.85 index pointsUSD · Dec 2024: 306.87 index pointsUSD · Mar 2025: 309.68 index pointsUSD · Jun 2025: 313.37 index pointsUSD · Sept 2025: 316.32 index pointsUSD · Dec 2025: 318.89 index pointsUSD · Mar 2026: 322.96 index pointsUSD · Jun 2026: 329.58 index pointsUSD · Sept 2026: 334.38 index pointsHover a point, or use the data table for exact values.
View chart data ↓
M2 indexed to a common starting month · index points
PeriodCurrencyValue
2026-09-30USD334.38 index points
2026-06-30USD329.58 index points
2026-03-31USD322.96 index points
2025-12-31USD318.89 index points
2025-09-30USD316.32 index points
2025-06-30USD313.37 index points
2025-03-31USD309.68 index points
2024-12-31USD306.87 index points
2024-09-30USD303.85 index points
2024-06-30USD300.92 index points
2024-03-31USD299.42 index points
2023-12-31USD296.77 index points
2023-09-30USD296.39 index points
2023-06-30USD297.04 index points
2023-03-31USD299.09 index points
2022-12-31USD304.10 index points
2022-09-30USD307.64 index points
2022-06-30USD309.15 index points
2022-03-31USD311.17 index points
2021-12-31USD307.09 index points
2021-09-30USD299.70 index points
2021-06-30USD292.38 index points
2021-03-31USD283.84 index points
2020-12-31USD273.05 index points
2020-09-30USD265.71 index points
2020-06-30USD259.64 index points
2020-03-31USD228.99 index points
2019-12-31USD219.24 index points
2019-09-30USD214.90 index points
2019-06-30USD211.35 index points
2019-03-31USD207.93 index points
2018-12-31USD205.54 index points
2018-09-30USD203.42 index points
2018-06-30USD201.84 index points
2018-03-31USD200.15 index points
2017-12-31USD198.33 index points
2017-09-30USD196.27 index points
2017-06-30USD193.90 index points
2017-03-31USD192.29 index points
2016-12-31USD189.09 index points
2016-09-30USD186.41 index points
2016-06-30USD183.51 index points
2016-03-31USD180.83 index points
2015-12-31USD177.00 index points
2015-09-30USD173.84 index points
2015-06-30USD171.68 index points
2015-03-31USD170.22 index points
2014-12-31USD167.40 index points
2014-09-30USD164.53 index points
2014-06-30USD162.79 index points
2014-03-31USD160.36 index points
2013-12-31USD157.99 index points
2013-09-30USD155.18 index points
2013-06-30USD152.89 index points
2013-03-31USD151.08 index points
2012-12-31USD149.75 index points
2012-09-30USD146.08 index points
2012-06-30USD143.15 index points
2012-03-31USD140.66 index points
2011-12-31USD138.29 index points
2011-09-30USD136.43 index points
2011-06-30USD131.16 index points
2011-03-31USD128.07 index points
2010-12-31USD125.99 index points
2010-09-30USD124.53 index points
2010-06-30USD123.26 index points
2010-03-31USD121.66 index points
2009-12-31USD121.54 index points
2009-09-30USD120.86 index points
2009-06-30USD120.86 index points
2009-03-31USD119.69 index points
2008-12-31USD117.15 index points
2008-09-30USD112.45 index points
2008-06-30USD110.64 index points
2008-03-31USD109.47 index points
2007-12-31USD106.86 index points
2007-09-30USD105.88 index points
2007-06-30USD104.12 index points
2007-03-31USD102.32 index points
2006-12-31USD101.10 index points
2006-10-31USD100.00 index points

USD: Federal Reserve Only one side has this aggregate. First valid shared displayed month = 100.

USD: H6 M1 definition break in May 2020; YoY windows must not cross the break. M1 and M2 overlap.

04 / Government finances

Government debt. Two useful perspectives.

Compare debt with the size of each economy, or see the total amount on a shared US-dollar scale.

Government debt / GDP
USD124.40%
RUB16.60%

General-government gross debt, not net debt. Each value shows its own reference year.

The debt burden through time

% of GDP · General-government gross debt

USD 124.40%RUB 16.60%

USD: Dec 2001 – Dec 2025 · RUB: Dec 1997 – Dec 2025 · Annual observations

General-government gross debt as a share of GDPUSD, latest 124.40% on 2025-12-31; RUB, latest 16.60% on 2025-12-31. Exact values are available in the data table below.050100150Dec 1997Dec 2004Dec 2011Dec 2018Dec 2025USD · Dec 2001: 53.50%USD · Dec 2002: 55.90%USD · Dec 2003: 59.00%USD · Dec 2004: 66.40%USD · Dec 2005: 65.80%USD · Dec 2006: 64.50%USD · Dec 2007: 65.00%USD · Dec 2008: 73.90%USD · Dec 2009: 87.10%USD · Dec 2010: 95.70%USD · Dec 2011: 100.00%USD · Dec 2012: 103.70%USD · Dec 2013: 105.00%USD · Dec 2014: 105.00%USD · Dec 2015: 105.50%USD · Dec 2016: 107.50%USD · Dec 2017: 106.50%USD · Dec 2018: 107.70%USD · Dec 2019: 108.80%USD · Dec 2020: 132.60%USD · Dec 2021: 125.00%USD · Dec 2022: 119.20%USD · Dec 2023: 120.00%USD · Dec 2024: 122.30%USD · Dec 2025: 124.40%RUB · Dec 1997: 51.50%RUB · Dec 1998: 135.20%RUB · Dec 1999: 92.40%RUB · Dec 2000: 55.90%RUB · Dec 2001: 44.40%RUB · Dec 2002: 37.60%RUB · Dec 2003: 28.30%RUB · Dec 2004: 20.80%RUB · Dec 2005: 14.90%RUB · Dec 2006: 9.80%RUB · Dec 2007: 8.00%RUB · Dec 2008: 7.40%RUB · Dec 2009: 9.90%RUB · Dec 2010: 10.10%RUB · Dec 2011: 10.30%RUB · Dec 2012: 11.20%RUB · Dec 2013: 12.30%RUB · Dec 2014: 15.10%RUB · Dec 2015: 15.30%RUB · Dec 2016: 14.80%RUB · Dec 2017: 14.30%RUB · Dec 2018: 13.60%RUB · Dec 2019: 13.70%RUB · Dec 2020: 19.20%RUB · Dec 2021: 16.50%RUB · Dec 2022: 15.10%RUB · Dec 2023: 15.20%RUB · Dec 2024: 14.80%RUB · Dec 2025: 16.60%Hover a point, or use the data table for exact values.
View chart data ↓
General-government gross debt as a share of GDP · percent
PeriodCurrencyValue
2025-12-31USD124.40%
2025-12-31RUB16.60%
2024-12-31USD122.30%
2024-12-31RUB14.80%
2023-12-31USD120.00%
2023-12-31RUB15.20%
2022-12-31USD119.20%
2022-12-31RUB15.10%
2021-12-31USD125.00%
2021-12-31RUB16.50%
2020-12-31USD132.60%
2020-12-31RUB19.20%
2019-12-31USD108.80%
2019-12-31RUB13.70%
2018-12-31USD107.70%
2018-12-31RUB13.60%
2017-12-31USD106.50%
2017-12-31RUB14.30%
2016-12-31USD107.50%
2016-12-31RUB14.80%
2015-12-31USD105.50%
2015-12-31RUB15.30%
2014-12-31USD105.00%
2014-12-31RUB15.10%
2013-12-31USD105.00%
2013-12-31RUB12.30%
2012-12-31USD103.70%
2012-12-31RUB11.20%
2011-12-31USD100.00%
2011-12-31RUB10.30%
2010-12-31USD95.70%
2010-12-31RUB10.10%
2009-12-31USD87.10%
2009-12-31RUB9.90%
2008-12-31USD73.90%
2008-12-31RUB7.40%
2007-12-31USD65.00%
2007-12-31RUB8.00%
2006-12-31USD64.50%
2006-12-31RUB9.80%
2005-12-31USD65.80%
2005-12-31RUB14.90%
2004-12-31USD66.40%
2004-12-31RUB20.80%
2003-12-31USD59.00%
2003-12-31RUB28.30%
2002-12-31USD55.90%
2002-12-31RUB37.60%
2001-12-31USD53.50%
2001-12-31RUB44.40%
2000-12-31RUB55.90%
1999-12-31RUB92.40%
1998-12-31RUB135.20%
1997-12-31RUB51.50%

IMF World Economic Outlook · Historical reported values and staff estimates · Current and future years excluded.

Government boundaries and accounting practices differ. Debt-to-GDP provides fiscal context; it does not determine an exchange rate or default risk on its own.

05 / What to watch

The next releases on the horizon

Selected releases for these two economies. Dates can change; unverified times are omitted.

Next 3 months
10Nov
United States Key release

Inflation report

2026-10 · Time not confirmed

USD
13Nov
Russia Key release

Inflation report

2026-10 · Time not confirmed

RUB
13Nov
Russia Key release

GDP release

2026-Q3 · Time not confirmed

RUB
17Nov
United States Key release

Retail sales

2026-10 · Time not confirmed

USD
27Nov
Russia Key release

GDP release

2026-10 · Time not confirmed

RUB
2Dec
Russia Key release

Labour market report

2026-10 · Time not confirmed

RUB

Published calendar snapshot checked 8 Nov 2026. Importance labels describe release type, not predicted market impact.

Putting it together

Read the relationship,
not a single number.

United States and Russia are the economies behind USD/RUB. RUB has the higher displayed policy rate by 10.00 percentage points.

Compare changes over time, then watch the next release. Higher rates, stronger growth or lower inflation do not guarantee a stronger currency: markets also price what comes next.

Transparent by design

Sources, definitions & useful context

4 data providers
What do these numbers tell me about USD / RUB?+

United States and Russia are the economies behind USD/RUB. RUB has the higher displayed policy rate by 10.00 percentage points. These measures describe monetary policy and economic conditions; they are not a buy or sell signal.

Why do the dates and measurements differ?+

Rates and yields are daily observations, inflation is monthly and GDP is quarterly. Each number shows its own observation period. We preserve native units and definitions, including the Fed target upper bound, euro-area HICP and Germany as the euro-area government-yield benchmark. Latest values may refer to different periods.

How are the charts calculated?+

The 10-, 20- and 30-year views use the final available observation in each quarter, plus the latest observation. The 5-year view uses month-end samples. Each chart shows its actual available date range; a 30-year selection does not manufacture missing history. Lines do not imply intraday updates. GDP uses native quarterly observations with its own 5Y, 10Y and Max controls. Government debt uses annual observations. Monetary growth compares the same series 12 months apart; the index starts at 100 in a shared month. We do not combine different currencies, interpolate missing observations, or sum overlapping monetary aggregates. Expand each chart’s data table for exact plotted values.

Snapshot and coverage details+

Last checked 2026-11-08T04:53:44.365224+00:00. Published automatically after accepted daily ingestion. Each series shows its own reported observation period and available history. Hong Kong is intentionally outside local macro coverage. Policy history covers up to 30 years using the available official benchmark series, with definition changes disclosed above. Euro-area policy history starts in January 1999; no pre-euro national rate is substituted; several inflation, GDP and monetary series extend about 20 years. Some currencies have shorter histories or only one-sided M2 coverage.