Russia's Ministry of Finance will significantly increase foreign exchange and gold purchases.

On October 5 local time, the Russian Ministry of Finance announced that from October 7 to November 6 it will increase the country's foreign exchange and gold purchases to five times the September level, allocating 279.42 billion rubles for this purpose, with average daily purchases of about 12.7 billion rubles. The purchases are being conducted in accordance with the budget rule and are intended to channel additional oil and gas revenues into the National Wealth Fund.