MOSCOW, November 3. /TASS/. Russia’s federal budget can receive 583.3 billion rubles ($6.3 bln) in additional oil and gas revenues in November 2023, the Finance Ministry said on its website.

"The expected volume of additional oil and gas revenues of the federal budget is expected in the amount of 583.3 billion rubles in November 2023. The deviation of actually received oil and gas revenues from the expected monthly volume of oil and gas revenues at the end of October 2023 amounted to 37.8 billion rubles ($422 mln)," the ministry says.

Purchasing currency under budget rule

The Finance Ministry also reported that the daily volume of purchases of foreign currency and gold from November 8 to December 6, 2023 will be the equivalent of 29.6 billion rubles ($322 mln), according to the Finance Ministry’s website.

"The total volume of funds allocated for the purchase of foreign currency and gold is 621.1 billion rubles ($6.7 bln). Operations will be carried out from November 8, 2023 to December 6, 2023, respectively, the daily volume of purchases of foreign currency and gold will be the equivalent of 29.6 billion rubles ($321 mln)," the statement says.

From October 6 to November 7, currency purchases amount to the equivalent of 18.12 billion rubles ($197 mln) per day.

The Finance Ministry recalled that in order to reduce the volatility of financial markets, the Bank of Russia suspended the transmission of foreign currency purchases to the domestic foreign exchange market from August 10, 2023 until the end of 2023.

Since January 13, the Finance Ministry has been selling foreign currency on the domestic foreign exchange market as part of the new budget rule. Operations for the purchase and sale of foreign currency are carried out by the Bank of Russia on the domestic market in the currency section of the Moscow Exchange in the yuan-ruble instrument.