The ruble reacted to the decision of the Ministry of Finance to increase the volume of purchase of currency

Moscow. June 5. INTERFAX.RU – the Ruble during trading on the Moscow exchange on Monday afternoon responded to the decision of the Ministry of Finance in a 5-fold increase in the volume of currency purchases in June. The U.S. dollar amounted to 56.56 per RUB/$1 at 12:05, while the Euro was worth 63,72 rubles/EUR1, which is almost identical to the exchange rates at 12:00.

The total amount of funds allocated by the Finance Ministry to buy foreign currency on the domestic foreign exchange market in the period from 7 June to 6 July 2017, will amount to 45.1 billion roubles. The daily volume of purchases of foreign currency will be equivalent to 2.1 billion rubles, said the Agency. To purchase foreign currency in the period from 6 may to 6 June, the Finance Ministry has written to 400 million rubles a day.

Deviation oil and gas revenues from the monthly evaluation in June is projected at 41.2 billion rubles upwards. The deviation of the actual received oil and gas revenues by the end of may from the assessment undertaken in the previous month, amounted to a plus of 3.8 billion rubles. Deviation from the plan occurred, according to the Finance Ministry, primarily as a result of higher exchange rate of the dollar against the ruble compared to the monthly average value of the APR used in the estimation.

According to experts of “Interfax-CEA”, the ruble reacted to the decision of the Ministry of Finance, as, on the one hand, the volume of currency purchases by the Finance Ministry, despite the increase, still remains quite modest. On the other hand, the Russian ruble has recently been demonstrating enviable stability, weak response to even a sharp drop in oil prices observed last week.