Ruble Weakens as Russia Boosts Daily FX/Gold Purchases Fivefold

The Russian ruble fell against the yuan on the Moscow Exchange after the Finance Ministry announced a fivefold increase in daily currency and gold purchases under the budget rule to 12.7 billion rubles from October 7. This signals accelerated fiscal sterilization and reduced ruble liquidity, pressuring the exchange rate. The move reflects higher-than-expected oil revenues or a policy shift to rebuild reserves, with implications for Russian import costs and inflation.