Russian finance ministry plans to continue forex purchases in coming month
MOSCOW, June 4 (Reuters) - The Russian Finance Ministry announced on Wednesday that it plans to continue buying foreign currency and gold for the budget reserve National Wealth Fund (NWF) in the coming month.
The ministry said it will buy forex and gold for 28.3 billion roubles for the period from June 6 to July 4. The ministry bought forex and gold for 41.6 billion roubles in the previous month.
The move will increase the state's overall daily net forex sales, which combine forex operations by the ministry and the central bank, to 7.36 billion roubles a day from 6.56 billion roubles a day in the previous month.
Finance Minister Anton Siluanov said last month that the government plans to tap the fund for 447 billion roubles in 2025 to balance the budget in 2025, implying that forex sales from NWF will accelerate later in the year.
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