#foreign-currency

➤ Russia's Finance Ministry will increase daily purchases of foreign currency and gold to 5.4 billion rubles from July 7 to August 6, as part of its fiscal rule to manage oil revenues. ➤ These operations, executed by the Bank of Russia, aim to channel excess energy profits into the National Wealth Fund and exert downward pressure on the ruble. ➤ The article highlights that Russia exclusively uses traditional assets like gold and foreign currency for these reserves, not cryptocurrencies, and notes the benefit to gold prices from this sustained sovereign demand.

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE China is planning major investments in foreign companies, including those in the US, in order to help turn its mountain of paper dollars and other currencies into hard assets and to obtain the technology and resources it needs to keep its factories humming.