Russian finance ministry halts currency trading, gold buys for 2022

A photograph illustration of U.S. greenback, Swiss Franc, British pound and Euro lender notes, taken in Warsaw January 26, 2011. REUTERS/Kacper Pempel/File Photograph

MOSCOW, March three (Reuters) – Russia’s finance ministry reported on Thursday that it was halting buys of overseas forex and gold for this 12 months as section of a suspension of sections of its fiscal rule relating to the use of further oil and gasoline revenues.

Underneath a rule adopted in 2017, Russia purchases overseas forex when oil rates are significant and sells when rates go down below $forty four for every barrel, shielding the rouble from oil rate swings.

Reporting by Reuters

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