You can buy currency at the Central Bank rate by trading on the Moscow Exchange through a broker, avoiding bank markups of 50-80 kopecks. This method uses instruments like EURRUB_TOD for same-day settlement in lots of 1,000 euros.
5 Steps to Buy Currency at Central Bank Rate
With 120,000 rubles, you can buy euros and transfer them to your bank account. Follow these steps:
Step 1. Open a free account with a broker offering access to the exchange currency market (e.g., BCS, KIT Finance, Otkritie, Solid, Finam, Teraich Capital Management).
Step 2. Transfer funds from your bank or deposit cash at the broker’s cashier. Bank transfers incur fees (10 rubles to 0.3%+), but cash deposits are free.
Step 3. Download the broker’s trading terminal, configure it, and learn to use it via help materials.
Step 4. Execute a exchange trade for EURRUB_TOD (TOD means same-day settlement at 3:00 PM). Use EURRUB_TOM for next-day if needed. Trades are in 1,000-euro lots; partial funds cover commissions.
- Broker commission on trade: e.g., 0.005% or 6 rubles.
- Delivery commission: e.g., 0.05% or 60 rubles.
- Exchange fee: 0.0015% or 1.8 rubles.
Step 5. Issue a withdrawal order to transfer euros to your bank (e.g., 25 euro fee). Or withdraw cash at an affiliated bank, fee still applies.
Is Buying Currency on Moscow Exchange Profitable?
Total costs: 120 rubles + 6 rubles + 60 rubles + 1.8 rubles + (25 euros × EUR/RUB rate). Real rate = (rubles spent + commissions) / euros received.
This often matches or beats exchange kiosks. Larger trades lower percentage fees, improving the effective rate—for 10,000 euros, savings are significant.
FAQ
What is EURRUB_TOD?
EURRUB_TOD is a Moscow Exchange instrument for buying euros with rubles, settling same day at 3:00 PM by Central Bank rate.
Are broker commissions fixed?
No, they vary: e.g., 0.005% trade fee, 0.05% delivery, 0.0015% exchange—total under 100 rubles for small trades, lower percentage for larger volumes.
Can I get cash euros?
Yes, withdraw to a bank account or cash at affiliated bank, but expect a 25-euro transfer fee deducted from proceeds.
