Russia to spend $1.6 bln on currency and gold under fiscal rule

Moscow allocates 123.2 bln rubles for FX and gold purchases from July 7 to August 6, signaling continued buffer management.

By Handelsavisen Newsroom · Automated 2026-07-03 10:38 UTC · 1 min read

Russia's Finance Ministry has announced it will allocate 123.2 billion rubles, equivalent to approximately $1.59 billion, for the purchase of foreign currency and gold.

The spending, executed under the country's fiscal rule, is scheduled to take place between July 7 and August 6.

The ministry indicated that the daily transaction volume for these purchases will amount to the equivalent of $70 million.

The ministry indicated that the daily transaction volume for these purchases will amount to the equivalent of $70 million.

This structured buying program is designed to manage the nation's financial buffers in accordance with established fiscal parameters.

The move comes as global central banks continue to adjust their reserve management strategies.

In a similar vein, Norges Bank recently announced a significant increase in its daily foreign exchange purchases for July, tripling the volume from the previous month to NOK 524 million net per day.