Russia’s Finance Ministry To Spend RUB 310bn on Foreign Currency

6 June 2019 (09:27)

UrBC, Moscow, June 6, 2019. Russia’s Finance Ministry intends to buy RUB 310.3 billion worth of foreign currency for its reserves in June, the ministry’s website states.

‘The overall amount of money directed to foreign currency purchases comes to RUB 310.3 billion. The purchase transactions will take place on June 7-July 4, 2019 (RUB 16.3 billion worth of foreign currency will get purchased every day),’ the website says.

According to the Finance Ministry, they expect RUB 324 billion in extra oil and gas revenues in June, as the actual oil prices are now higher than what the predicted base rate was.

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