The Ministry of Finance of Russia is preparing to collapse the ruble

In 2017, the Ministry of Finance of Russia will purchase foreign currency for a record amount of 2.7 trillion rubles. This is almost 3 times more than the country spends on medicine and education.
Origin source
The Ministry of Finance will increase foreign exchange interventions to a record level: in the period from August 7 to September 6, the domestic market will buy the currency by 383.2 billion rubles. This is stated in the message of the Ministry of Finance, posted on its official website.

Thus, the Finance Ministry will buy foreign currency for 16.7 billion rubles. in a day. This volume of purchases is related to the additional oil and gas revenues received in July 2018. Under the budgetary rule, they are spent on the purchase of currency for reserves. Dollars, euros and pounds sterling are purchased in the proportion of 45:45:10.

The Bank of Russia itself will conduct the transactions for the purchase of foreign currency on the Moscow Stock Exchange, then the funds will be credited to the accounts of the Federal Treasury.

The previous record of buying currency was established in June, when the agency sent 379.7 billion rubles for these purposes. From March to June, the Ministry of Finance increased its purchases monthly (from 192.5 billion in March to 379.7 billion rubles in June). The reduction was recorded only in July, when 347.7 billion rubles were allocated for foreign exchange interventions.

In accordance with the May amendments to the budget for the whole year, the Ministry of Finance plans to purchase currencies for more than 2.7 trillion rubles.