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14Apr14

Finance Ministry to resume buying foreign currencies to Russia's Reserve Fund

Russia's Finance Ministry and Federal Treasury have decided to resume on Monday, April 14, operations for purchasing foreign currencies to the Reserve Fund. The operations were suspended on March 4, 2014 due to growing volatility on financial markets.

The operations envision daily purchasing of foreign currencies equivalent to 3.5 billion rubles ($97.342 million) a day in the Central Bank of Russia, a Finance Ministry source said.

Thus, the Central Bank of Russia resumed foreign currency buying on the domestic currency market April 11.

[Source: Itar Tass, Moscow, 14Apr14]
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