Russia to increase daily FX sales

MOSCOW: Russia’s central bank will increase its foreign currency sales by the equivalent of 4 billion roubles ($52.30 million) a day starting from Monday, the bank said on Friday, on top of its regular FX operations according to the fiscal rule.

The central bank will be selling forex accumulated as a result of an acquisition of Aeroflot shares by the finance ministry using money from the National Wealth Fund.

Central Bank Governor Elvira Nabiullina said on Friday the increase in forex sales would not have any significant impact on the forex market.