| Russia’s Finance Ministry joined the central bank in buying foreign exchange to take advantage of this year’s ruble gains after earlier efforts to stem the world’s biggest currency rally fell flat.
The purchases, carried out for several weeks, will be used to cover this year’s budget expenditures denominated in foreign currency, including debt payments, Deputy Finance Minister Alexey Moiseev told reporters in Moscow on Tuesday. The transactions had no impact on the domestic currency market or the volume of foreign-exchange liquidity, according to the central bank...............................................Full Article: Source
|