Bloomberg: Russia will resume buying foreign currency for its reserves

Russia may resume buying foreign currency for its reserves in May, the agency writes. Bloomberg.

According to the author of the article, the volume of the first purchases could reach more than 200 million dollars in yuan per month. Thus, Moscow will be able to maintain the influx of petrodollars against the backdrop of sanctions and a price ceiling for petroleum products, the publication claims.

“It will be important for the market that the state will start accumulating reserves again, and not spend them <…>. It may even have a positive impact on the ruble”– analyst Natalya Milchakova clarified in an interview with Bloomberg.

Note that at the same time, analysts give less positive forecasts for the dollar – they predicted a long-term decline and weakening of up to 20%. And at the beginning of the year, Kristalina Georgieva, head of the International Monetary Fund, announced the gradual abandonment of the world from the dollar.