Russia to Begin Publishing Official Exchange Rate for Ethiopian Birr

The Central Bank of Russia has announced that, beginning July 10, 2025, it will start publishing official exchange rates for 12 additional foreign currencies, including the Ethiopian birr, against the Russian ruble. The move expands the list of currencies for which the central bank provides daily reference rates used for accounting, customs, and official transactions within Russia.

According to the announcement, the decision reflects a broader update in the regulator’s exchange rate policy framework. While it does not imply immediate changes in trade volumes or bilateral agreements, the inclusion of more currencies in Russia’s official rate list may support administrative and financial operations involving countries with which it maintains economic ties.

The addition of the Ethiopian birr comes as part of a larger group of currencies introduced in the update, which now exceed 50 currency pairs in total. The move follows ongoing developments in Russia’s currency and trade policy environment, particularly in expanding engagement with non-Western economies.

Since late 2024, the Central Bank of Russia has been refining its methodology by incorporating data from both exchange-traded and OTC (over-the-counter) segments, aiming to create more representative official rates

This supports Russia’s efforts to build alternative financial links with countries like Ethiopia, Iran, and Nigeria, many of which are part of or aligned with BRICS+ or the broader Global South.