Russia to Quadruple FX Purchases as It Rebuilds Wealth Fund and Seeks to Weaken Ruble - The Moscow Times

Moscow Times

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Russia's Finance Ministry said Wednesday it would sharply increase purchases of foreign currency and gold over the next month as the government seeks to replenish its sovereign wealth fund and curb the ruble's rapid appreciation.The ministry said it would spend 208.2 billion rubles ($2.81 billion) o