Russian Finance Ministry: Halting forex, gold purchases for 2022

Dhwani Mehta FXStreet

Russia is halting purchases of foreign currency and gold for this year in lieu of a suspension of parts of its fiscal rule amid the use of extra oil and gas revenues, the nation’s Finance Ministry said in a statement on Thursday.

This move comes to protect the rouble from oil price swings, as the beleaguered domestic currency meanders near record lows against the US dollar.

USD/RUB pierces off 100.00 to extend pullback from record top as Russia-Ukraine peace talks loom

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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