Russian Fin Min to buy foreign currency for 72 bln rbl Thu–Oct 5

MOSCOW, Sep 5 (PRIME) -- The Russian Finance Ministry will increase foreign currency purchases from the market to 71.7 billion rubles from Thursday to October 5, with daily currency acquisitions to amount to 3.4 billion rubles, the ministry said in a statement on Tuesday.

Transactions in the previous period, from August 7 till Wednesday, amounted to 47.6 billion rubles and the daily one 2.07 billion rubles.

In February, the ministry said it entered the currency market to minimize dependence of the ruble on oil prices with the help of windfall energy revenue, which is estimated at 77.9 billion rubles in September 2017.

The ministry will make the transactions via the central bank. The currency will be put on the treasury account and directed to the Reserve Fund in 2018.

(57.7817 rubles – U.S. $1)

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