Siluanov: We ready to invest in friendly countries’ currencies to influence exchange rate


June 29, Fineko/ The Russian Finance Ministry is considering the possibility of influencing the ruble exchange rate against the dollar and euro by buying the currency of friendly countries.

ABC.AZ reports, quoting Finance Minister Anton Siluanov as saying this at the RSPP congress.

"The Ministry used to put excess revenues from oil and gas into foreign currency, into the National Welfare Fund and so on within the framework of the budget rule. Now foreign currency is toxic, but we are ready to do this in order to influence the exchange rate in the currency of friendly countries. And through the currency of friendly countries, through cross-rates to the dollar and the euro, it will be possible to regulate the value of the dollar and the euro to the ruble through such a ratio," the minister said.