MOSCOW, March 14 Russian finance ministry plans
to launch foreign exchange swap mechanism no later than
September to place budget foreign currency leftovers in banks in
exchange for roubles, an official with the federal treasury told
reporters on Tuesday.
Stanislav Prokofyev, deputy head of the treasury, added that
the finance ministry may place between $0.5 billion and $1
billion under the proposed FX swap mechanism.
Separately, the head of the treasury, Roman Artyukhin, said
that the treasury - which is a part of the finance ministry -
may start independently buying FX on the market without the
central bank involvement from 2018.
(Reporting by Darya Korsunskaya; writing by Katya Golubkova;
editing by Vladimir Soldatkin)