Russia assigns $1.4b for currency, gold

Russia’s Finance Ministry announced plans to allocate 123.8 billion roubles ($1.4 billion) for the purchase of foreign currency and gold from July 5 to August 6, 2024, under the fiscal rule. The ministry will conduct daily purchases amounting to 5.4 billion roubles ($61 million), according to a statement released on Wednesday.

The statement specified, “The amount of funds allocated for purchases of foreign currency and gold totals 123.8 billion roubles. Transactions will be carried out from July 5 to August 6, 2024, with daily purchases of foreign currency and gold equaling 5.4 billion roubles.”

Previously, from June 7 to July 4, the Finance Ministry had planned to allocate 71.1 billion roubles ($800 million) for similar purchases, with daily transactions amounting to 3.7 billion roubles ($41 million).

Attribution: TASS.