Cbank buys 2.1 bln rbl foreign currency for fin ministry on Tue

MOSCOW, Aug 30 (PRIME) -- Russia’s central bank bought 2.1 billion rubles worth of foreign currency with settlement on Tuesday on the domestic market for the Finance Ministry, according to documents seen by PRIME on Wednesday.

In February, 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 in August that it was going to spend 47.6 billion rubles on foreign currency purchases in the period from August 7 till September 6, and the daily acquisitions would amount to 2.07 billion rubles.

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.

(58.5320 rubles – U.S. $1)

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