Russia’s Finance Ministry plans to buy foreign currency and gold worth 12.7 billion rubles a day from October 7 to November 6 under its budget rule, five times the September pace.
The ministry put the total value of purchases over the period at 279.42 billion rubles. Daily transactions in September amounted to 2.5 billion rubles, making the new planned pace the highest since November 2023.
It forecast 289.46 billion rubles in additional oil and gas revenue for October. In September, actual oil and gas receipts fell 10.04 billion rubles short of the ministry’s forecast.
The purchases are scheduled to run from October 7 through November 6. The ministry expressed the daily volume in ruble terms and did not give a separate breakdown for currency and gold in the announcement.