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Finance & Markets

Russia borrows over $11 billion from banks in a single day to plug its growing budget deficit

The Russian Ministry of Finance raised 1 trillion rubles ($11.5 billion) in a single day after resuming government bond sales following a six-week pause to cover the country’s growing federal budget deficit, The Moscow Times reported on September 2.

Russia borrows over $11 billion from banks in a single day to plug its growing budget deficit

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Rupee records gain against US dollar

The Pakistani rupee extended its marginal gains, appreciating 0.01% against the US dollar on Thursday. The local unit closed the day at 277.42, a gain of Re0.03 against the greenback. On Wednesday , the Pakistani rupee settled at 277.45 against the dollar.

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