Russia's Finance Ministry to spend $4 billion on gold and currencies from Oct. 6 - Nov. 7

Argentina Noticias Noticias

Russia's Finance Ministry to spend $4 billion on gold and currencies from Oct. 6 - Nov. 7
Argentina Últimas Noticias,Argentina Titulares

itemprop=description content=(Kitco News) - Russia's Finance Ministry will spend 398.72 billion rubles ($4 billion) between October 6 and November 7 on gold and foreign currencies, with the daily volume to be equivalent to 18.12 billion rubles ($182 million), the Ministry announced on Wednesday.

- Russia's Finance Ministry will spend 398.72 billion rubles on gold and foreign currencies between October 6 and November 7, with the daily volume to be equivalent to 18.12 billion rubles , the Ministry announced on Wednesday.

The Central Bank of Russia announced that it will not be mirroring these moves in the market from August 10 until the end of 2023, saying that it made the decision in order to reduce volatility in the financial markets. The regulator said there could be deferred purchases in 2024 and in subsequent years, and it will decide on these operations once the CBR resumes mirroring regular purchases.

The International Monetary Fund’s latest International Financial Statistics report showed that Russia’s central bank increased their gold reserves in August, and they have now returned to the level they were at the beginning of 2023. While Russia is intent on increasing its gold reserves to help mitigate Western economic sanctions in response to the Ukraine conflict, the country has been forced to use its gold reserves to settle international transactions and to cover budget deficits.

 

Argentina Últimas Noticias, Argentina Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Russian finance ministry to increase deferred FX purchases in OctoberRussian finance ministry to increase deferred FX purchases in OctoberMarket News
Leer más »



Render Time: 2025-01-09 19:06:22