diff --git a/doc/user/markdown.md b/doc/user/markdown.md
index 393bcfe18b9d5351fabbaad92638a38946f95bc5..fb7116e8e466ef96f0683581b16ffc33ede6633a 100644
--- a/doc/user/markdown.md
+++ b/doc/user/markdown.md
@@ -2034,6 +2034,7 @@ The syntax is `%{PLACEHOLDER}`.
 | `%{project_title}`        | `GitLab`            | Title of a project |
 | `%{group_name}`           | `gitlab-org`        | Group of a project |
 | `%{default_branch}`       | `main`              | Default branch name configured for a project's repository |
+| `%{current_ref}`          | `feature-branch`    | Current ref (branch, tag, or commit SHA) being viewed |
 | `%{commit_sha}`           | `ad10e011ce65492322037633ebc054efde37b143` | ID of the most recent commit to the default branch of a project's repository |
 | `%{latest_tag}`           | `v17.10.7-ee`       | Latest tag added to the project's repository |
 
diff --git a/lib/banzai/filter/placeholders_post_filter.rb b/lib/banzai/filter/placeholders_post_filter.rb
index 824907cd3f5e1b3a62390871578fd057723c77a5..6430bcf75be22ce290b0198687d1b5b2b1f8a22c 100644
--- a/lib/banzai/filter/placeholders_post_filter.rb
+++ b/lib/banzai/filter/placeholders_post_filter.rb
@@ -58,6 +58,12 @@ class PlaceholdersPostFilter < HTML::Pipeline::Filter
             context[:project]&.default_branch
           end
         end,
+        'current_ref' => ->(context) do
+          if context[:project]&.repository_exists? &&
+              Ability.allowed?(context[:current_user], :read_code, context[:project])
+            context[:ref]
+          end
+        end,
         'commit_sha' => ->(context) do
           if context[:project]&.repository_exists? &&
               Ability.allowed?(context[:current_user], :read_code, context[:project])
diff --git a/spec/lib/banzai/filter/placeholders_post_filter_spec.rb b/spec/lib/banzai/filter/placeholders_post_filter_spec.rb
index 47bb1899eae99269d1fc00290504c0c94b3d9e26..956e426e23e4e9359e961cdcca69885fa196e827 100644
--- a/spec/lib/banzai/filter/placeholders_post_filter_spec.rb
+++ b/spec/lib/banzai/filter/placeholders_post_filter_spec.rb
@@ -20,7 +20,7 @@ def run_filter(text, context = { project: project })
   end
 
   def expect_replaces_placeholder(markdown, expected)
-    result = run_pipeline(markdown, project: project, current_user: user)
+    result = run_pipeline(markdown, project: project, current_user: user, ref: current_ref_name, group: group)
 
     if expected
       expect(result).to eq "<p dir=\"auto\">#{expected}</p>"
@@ -34,20 +34,22 @@ def expect_replaces_placeholder(markdown, expected)
     "<span data-placeholder=\"%{gitlab_pages_domain}\">#{Gitlab.config.pages.host}</span>"
   end
 
-  let!(:project_path) { "<span data-placeholder=\"%{project_path}\">#{project.full_path}</span>" }
-  let!(:project_name) { "<span data-placeholder=\"%{project_name}\">#{project.path}</span>" }
-  let!(:project_id) { "<span data-placeholder=\"%{project_id}\">#{project.id}</span>" }
-  let!(:project_namespace) do
+  let(:project_path) { "<span data-placeholder=\"%{project_path}\">#{project.full_path}</span>" }
+  let(:project_name) { "<span data-placeholder=\"%{project_name}\">#{project.path}</span>" }
+  let(:project_id) { "<span data-placeholder=\"%{project_id}\">#{project.id}</span>" }
+  let(:project_namespace) do
     "<span data-placeholder=\"%{project_namespace}\">#{project.project_namespace.to_param}</span>"
   end
 
-  let!(:project_title) { "<span data-placeholder=\"%{project_title}\">#{project.title}</span>" }
-  let!(:group_name) { "<span data-placeholder=\"%{group_name}\">#{project.group&.name}</span>" }
-  let!(:default_branch) { "<span data-placeholder=\"%{default_branch}\">#{project.default_branch}</span>" }
-  let!(:commit_sha) { "<span data-placeholder=\"%{commit_sha}\">#{project.commit&.sha}</span>" }
-  let!(:latest_tag) { "<span data-placeholder=\"%{latest_tag}\">#{project_tag}</span>" }
+  let(:project_title) { "<span data-placeholder=\"%{project_title}\">#{project.title}</span>" }
+  let(:group_name) { "<span data-placeholder=\"%{group_name}\">#{project.group.name}</span>" }
+  let(:default_branch) { "<span data-placeholder=\"%{default_branch}\">#{project.default_branch}</span>" }
+  let!(:current_ref) { "<span data-placeholder=\"%{current_ref}\">#{current_ref_name}</span>" }
+  let(:commit_sha) { "<span data-placeholder=\"%{commit_sha}\">#{project.commit.sha}</span>" }
+  let(:latest_tag) { "<span data-placeholder=\"%{latest_tag}\">#{project_tag}</span>" }
   let!(:empty_span) { "<span data-placeholder=\"%{empty_span}\"></span>" }
-  let!(:project_tag) do
+  let!(:current_ref_name) { 'feature-branch' }
+  let(:project_tag) do
     if project.repository_exists?
       TagsFinder.new(project.repository, per_page: 1, sort: 'updated_desc')&.execute&.first&.name
     end
@@ -64,6 +66,7 @@ def expect_replaces_placeholder(markdown, expected)
       '%{project_namespace}'   | nil
       '%{group_name}'          | ref(:group_name)
       '%{default_branch}'      | nil
+      '%{current_ref}'         | nil
       '%{commit_sha}'          | nil
       '%{latest_tag}'          | nil
     end
@@ -86,6 +89,7 @@ def expect_replaces_placeholder(markdown, expected)
       '%{project_namespace}'   | nil
       '%{group_name}'          | nil
       '%{default_branch}'      | nil
+      '%{current_ref}'         | nil
       '%{commit_sha}'          | nil
       '%{latest_tag}'          | nil
     end
@@ -108,6 +112,7 @@ def expect_replaces_placeholder(markdown, expected)
       '%{project_namespace}'   | ref(:project_namespace)
       '%{group_name}'          | ref(:group_name)
       '%{default_branch}'      | ref(:default_branch)
+      '%{current_ref}'         | ref(:current_ref)
       '%{commit_sha}'          | ref(:commit_sha)
       '%{latest_tag}'          | ref(:latest_tag)
     end
@@ -130,6 +135,7 @@ def expect_replaces_placeholder(markdown, expected)
       '%{project_namespace}'   | ref(:project_namespace)
       '%{group_name}'          | ref(:group_name)
       '%{default_branch}'      | nil
+      '%{current_ref}'         | nil
       '%{commit_sha}'          | nil
       '%{latest_tag}'          | nil
     end
@@ -258,6 +264,15 @@ def expect_replaces_placeholder(markdown, expected)
     it_behaves_like 'placeholders with access, no code access'
   end
 
+  context 'when project is nil' do
+    let_it_be(:user) { create(:user) }
+    let_it_be(:group) { create(:group) }
+    let_it_be(:project) { nil }
+    let_it_be(:group_name) { "<span data-placeholder=\"%{group_name}\">#{group.name}</span>" }
+
+    it_behaves_like 'placeholders with no access'
+  end
+
   context 'when placeholders in text' do
     let_it_be(:user) { create(:user) }
     let_it_be(:group) { create(:group) }