Bank of Russia Sets Dollar Rate at 83.56 Rubles for October 1

The Bank of Russia has set its official exchange rate for the U.S. dollar at 83.56 rubles, effective October 1, according to the state news agency TASS.

The central bank also adjusted its official euro rate, lowering it by 1.1815 rubles to 94.881 rubles, TASS reported, citing the regulator's daily rate-setting announcement.

Russia's central bank publishes official currency rates on each business day. The figures are used across the country for customs valuations, tax reporting and a range of other administrative and accounting purposes, rather than reflecting a single market transaction price.

The ruble's official rates against major currencies remain a closely watched indicator in Russia, where the currency's value affects import costs, inflation readings and household purchasing power.

Exchange-rate announcements of this kind are issued daily and are among the most closely tracked economic indicators inside the country, given their downstream effect on prices for imported goods and on the cost of foreign travel and cross-border transactions.

TASS did not report further comment from the Bank of Russia on the reasoning behind the day's rate changes.