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Russian finance ministry to increase deferred FX purchases in November

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N.S. flood victim surprised by apartment makeover | SaltWire - Russia's finance ministry said on Friday it would increase the volume of deferred foreign currency purchases in the coming month to a cumulative total of 621.1 billion roubles .

The finance ministry said its purchases of foreign currencies and gold for the period from Nov. 8 to Dec. 6 that will be deferred to a later date would amount to 29.6 billion roubles per day.In the previous period, between Oct. 6 and Nov. 7, the ministry had planned to buy foreign currency worth 398.7 billion roubles to compensate for lower oil and gas revenues.

Under its budget rule, Russia sells foreign currency from its wealth fund to make up for any shortfall in revenue from oil and gas exports, or makes purchases in the event of a surplus.

 

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