The reasons for the high ruble spot exchange rate of the Bank of China are as follows

There are many factors that determine the cash price, the most important of which are the cost of transporting banknotes and the trading situation of the currency in the international market. You Most of the foreign currency cash in demand has to be purchased in the international market and then shipped back. Due to real-time changes in international market transaction prices, domestic banks purchase the currency at different prices, resulting in different final prices for you.

The spot exchange price is calculated based on the spot transaction price in the inter-bank market. The selling price of cash is determined based on the spot exchange price and the cost of transporting cash.

China Foreign Exchange Trading Center: Starting from March 11, 2022, the fluctuation range of the spot trading price of RMB against the Russian ruble in the inter-bank foreign exchange market will be expanded from 5% to 10%, that is, the daily inter-bank foreign exchange market The spot trading price of RMB against the Russian ruble can fluctuate within a range of 10% above or below the central parity rate of RMB against the Russian ruble for the day announced by the China Foreign Exchange Trading Center.