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3 Feb 2023, 10:26

Russian finance ministry to sell currency worth $2.2 bln from February 7 to March 6

It is noted that foreign currency sales will equal 8.9 bln rubles each day

MOSCOW, February 3. /TASS/. Russia’s Finance Ministry will allocate over 160 bln rubles ($2.2 bln) for sale of foreign currency from February 7 to March 6, 2023, according to a statement released on its website on Friday.

"The funds allocated for sale of foreign currency totally stand at 160.2 bln rubles. Transactions will be carried out from February 7, 2023 to March 6, 2023. Consequently, foreign currency sales will equal 8.9 bln rubles each day," the statement reads.

The deviation of virtually received oil and gas revenues from the expected monthly amount totaled minus 52.1 bln rubles ($740 mln) in January 2023 "due to a lesser amount of the gas export duty received," the ministry noted. It projects a shortfall in Russia’s federal budget of 108 bln rubles ($1.5 bln) in oil and gas revenues in February.

Earlier, the Finance Ministry said the federal budget would see a shortfall of 54.5 bln rubles ($780 mln) in oil and gas revenues in January.