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Russian finance ministry plans to buy $4 billion worth of gold, foreign currency in July
By Andrey Ostroukh
via Nasdaq.com, New York
Monday, July 5, 2021
MOSCOW -- Russia's finance ministry said today it would buy 13.5 billion roubles ($184.25 million) worth of foreign currency a day between July 7 and Aug. 5, an increase in the amount of daily operations from the previous month.
The finance ministry said its regular foreign exchange and gold purchases on the market will total 296 billion roubles ($4.04 billion) over the next month. A Reuters survey of analysts predicted that FX buying would total 250 billion roubles.
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The ministry did not give details of its gold-buying plan, mentioning the precious metal in the monthly release for the first time on record.
In the previous period, between June 7 and July 6, the ministry had planned to buy the equivalent of 220.9 billion roubles, or 10.5 billion roubles a day. ...
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