MOSCOW (Sputnik) — This breaks down to 3.5 billion rubles ($62.2 million) a day, the ministry said.
"The aggregate amount of funds allocated to the purchase of foreign currency on the domestic foreign exchange market in the period from April 7 to May 5, 2017, is 69.9 billion rubles [$1.2 billion]," the ministry said.
Earlier in March, Russia's central bank improved its GDP growth forecast for 2017 from 0.5-1 percent to 1-1.5 percent due to a higher than expected pace of economic recovery. The inflation rate is currently at around 4.3 percent.
Russia faced an economic downturn in 2014 because of the global slump in oil prices and economic sanctions imposed on Moscow by Western countries.
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