Cbank buys 20 bln rbl foreign currency for fin ministry on Wed

MOSCOW, Jun 28 (PRIME) -- Russia’s central bank bought 20 billion rubles worth of foreign currency with settlement on Wednesday on the domestic market for the Finance Ministry, according to the documents seen by PRIME on Thursday.

In February 2017, the ministry said it entered the currency market to minimize dependence of the ruble rate on oil prices. The ministry wanted to use additional oil and gas revenue of the budget and assured the influence on the ruble quotations would be minimal.

The ministry said earlier it will acquire 379.7 billion rubles of foreign currency on the domestic market from June 6 through July 5, spending 19 billion rubles a day.

The transactions will be made by the central bank. The central bank said that the real volume of operations may differ from the planned amount due to differences in exchange rates and to rounding up or down.

(63.1359 rubles – U.S. $1)

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