OREANDA-NEWS. The Ministry of Finance of Russia will send 195.5 billion rubles of additional oil revenues to purchase foreign currency from December 6 to January 14. This is stated in a message on the website of the ministry. Every day, 9.3 billion rubles will be allocated for the purchase of foreign currency.

According to the forecasts of the Ministry of Finance, in December additional budget revenues from oil will amount to 201.9 billion rubles. A month earlier, from November 8 to December 5, 2019, the Ministry of Finance planned to allocate 228.2 billion rubles for the purchase of foreign currency.

In accordance with the budget rule, the Ministry of Finance buys a monthly currency for additional income from the sale of oil at a cost of more than $ 40 per barrel, the Ministry of Finance sends this currency to reserves. The Central Bank of the Russian Federation acts as an agent of the Ministry of Finance for procurement in the open market. In August 2018, the Central Bank temporarily abandoned this practice due to market volatility and a sharp weakening of the ruble due to U.S. sanctions, the Ministry of Finance began to buy currency directly from the Central Bank without making equivalent transactions in the domestic market.