ExplainerMarkets
Russian government bonds (OFZ): how the state borrows at home
Russia's domestic government bonds finance deficits and refinance maturing debt. Their pricing also shows how interest rates and fiscal policy meet.
Coverage
Markets & Investment
Understand Russia's financial markets, government bonds and investment flows in their economic context. Coverage explains market structure, financing costs, access restrictions and the differences between quoted prices and realizable transactions. Official exchange rates and historical reference data are not trading recommendations. Analysis identifies the observation period, underlying source and limitations before drawing conclusions about a market movement.
ExplainerMarkets
The Moscow Exchange explained: markets, settlement and investor access
The Moscow Exchange connects trading with clearing and custody, while sanctions and different account rules make access depend on more than a quoted market price.
ExplainerRuble
The Russian ruble explained: what sets its value and moves it
The ruble floats, but interest rates, export receipts, restrictions and payment channels influence both its official value and the rate customers receive.