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Russia’s Finance Ministry to purchase $1.2 bln foreign currency in March

March 03, 12:57 UTC+3

The daily volume of foreign currency purchases will amount to the equivalent of $54.5 mln

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MOSCOW, March 3. /TASS/. Russia's Finance Ministry is going to spend 70.5 bln rubles ($1.2 bln) on foreign currency purchases on the domestic market during from March 7 to April 6, 2017, according to the Ministry. Thus, the daily volume of foreign currency purchases will amount to the equivalent of 3.2 bln rubles ($54.5 mln).

"If the current environment remains unchanged, the volume of funds allocated for purchases of foreign currency on the domestic foreign exchange market is expected to increase in the future," the ministry said.

According to the ministry’s forecast, additional oil and gas revenues in March will amount to 91.9 bln rubles ($1.56 bln). However, in February the difference between actual oil and gas revenues and forecast reached 21.4 bln rubles ($364.4 mln).

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