Russia's Minfin to Boost FX/Gold Purchases Fivefold from Oct 7

Russia's Ministry of Finance will increase daily foreign currency and gold purchases under the budget rule to 12.7 billion rubles from October 7 to November 6, totaling 279.42 billion rubles, a fivefold increase from the previous period. This reflects higher-than-expected oil and gas revenues, potentially strengthening the ruble and signaling fiscal discipline. The move may also indicate reduced need for currency interventions to support the ruble, with implications for Russian markets and capital flows.