Russia's central bank said on Tuesday that it sold almost $47 million worth of Chinese yuan on January 13 to buy roubles, as it began to make up for the budget shortfall from falling oil and gas revenues by intervening on forex markets.
The budget rule means that if Moscow's revenues from oil and gas go down, Russia will sell off foreign currency reserves to make up the amount of roubles needed for the budget.
Source: News Formal (newsformal.com)
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