The interest rate for ruble deposits is 8%. On March 1 day, major Russian commercial banks raised their respective ruble deposit rates. Russian Savings Bank and Foreign Trade Bank raised the interest rate of ruble deposits to 18%, natural gas industry joint-stock banks to 18.2%, and Dzenit Bank to 20%. Earlier, on February 28th, the Russian central bank announced that it would raise the benchmark interest rate to 20%. At present, there are still some foreign banks and small commercial banks that have not announced the changes in interest rates.

Exchange rate type:

According to the evolution of the international monetary system, there are fixed exchange rates and floating exchange rates:

① Fixed exchange rate. Refers to the exchange rate set and announced by the government, which can only float within a certain range.

② Floating exchange rate. Refers to the exchange rate determined by market supply and demand. Its fluctuation is basically free, and a country's money market has no obligation to maintain the exchange rate level in principle, but it can intervene when necessary.

According to the method of setting exchange rate, there are basic exchange rate and arbitrage exchange rate:

① Basic exchange rate. When setting exchange rates, countries must choose a currency as the main comparison object, which is called the key currency. According to the comparison of the actual value of domestic currency and key currency, the exchange rate between domestic currency and key currency is calculated, which is the basic exchange rate. Generally speaking, the US dollar is the currency used more in international payment. All countries regard the US dollar as the main currency for setting exchange rates, and often regard the exchange rate against the US dollar as the basic exchange rate.

2 exchange rate arbitrage. It refers to the exchange rate calculated by countries according to the basic exchange rate against the US dollar, which directly reflects the value ratio between other currencies.

According to the angle of buying and selling foreign exchange, there are buying exchange rate, selling exchange rate, intermediate exchange rate and spot exchange rate:

① Buying exchange rate. Also known as the buying price, that is, the exchange rate used by banks to buy foreign exchange from peers or customers. When the direct quotation method is adopted, the exchange rate with less foreign currency converted into local currency is the buying price, while the indirect pricing method is the opposite.

② Selling exchange rate. Also known as the selling price, that is, the exchange rate used by banks to sell foreign exchange to their peers or customers. When the direct quotation is adopted, the exchange rate with more foreign currency converted into local currency is the selling price, while the indirect pricing method is the opposite.

③ Intermediate exchange rate. Is the average of the buying price and the selling price. Western newspapers often use the intermediate exchange rate to report exchange rate news, and the arbitrage exchange rate is also calculated by using the intermediate exchange rate set of related currencies.

④ Cash exchange rate. Generally speaking, foreign currency is not allowed to circulate in the country. Only by converting foreign currency into local currency can we buy domestic goods and services, thus generating the exchange rate for buying and selling foreign exchange cash, that is, the cash exchange rate. The exchange rate of cash should be the same as that of foreign exchange, which is reasonable, but because it is necessary to transport foreign currency cash to various issuing countries, it needs certain freight and insurance fees. Therefore, the exchange rate when banks receive foreign currency cash is usually lower than the foreign exchange purchase price; The exchange rate at which banks sell foreign currency cash is higher than other foreign exchange selling rates.

According to the bank's foreign exchange payment methods, there are wire transfer exchange rate, letter exchange rate and bill exchange rate.

① telegraphic transfer exchange rate. The telegraph exchange rate is the exchange rate at which domestic banks engaged in foreign exchange business entrust their overseas branches or correspondent banks to pay the payee by telegraph after selling foreign exchange. Due to the high speed of telegraphic transfer payment, the bank can't occupy the customer's capital position, and the international telegraph fee is high, so the telegraphic transfer exchange rate is higher than the general exchange rate. The rapid transfer of funds by telegraphic transfer is conducive to accelerating international capital turnover, so telegraphic transfer accounts for an overwhelming proportion in foreign exchange transactions.

② remittance exchange rate. Remittance exchange rate is the exchange rate used by the bank to issue a payment order and send it to the paying bank through the post office for transfer to the payee. Because it takes a certain time to send payment instructions, banks can occupy customers' funds during this time, so the exchange rate of letter transfer is lower than that of wire transfer.

③ Exchange rate of draft. The exchange rate of bill exchange refers to the exchange rate used when a bank opens a bill paid by its foreign branch or agent, gives it to the remitter, and the remitter carries it with him or sends it abroad for withdrawal. Because there is a time interval between selling and paying foreign exchange, banks can occupy customers' positions during this time, so the exchange rate of foreign exchange is generally lower than that of telegraphic transfer. There are short-term bills and long-term bills, and their exchange rates are also different. Because banks can use customers' funds for a longer time, the exchange rate of long-term bills is lower than that of short-term bills.