Russian Economy Shows Signs of Growth Amid Inflation Concerns

The Russian economy showed some signs of growth in recent months, but inflation remains a concern. According to AKM.RU, Russia's GDP grew by 0.6% in seven months, while deflation for the week was a negligible 0.01%. The Ministry of Finance plans to buy $55.6 billion worth of foreign currency and gold in September as part of the budget rule.

The Central Bank has raised its forecast for the banking sector's profit this year to 3.9-4.4 trillion rubles. In a separate development, gasoline prices rose to 77.76 rubles per liter last week, while non-cash transactions accounted for 88.4% of retail turnover in the second quarter.

On the cryptocurrency front, Bitcoin on Binance increased by 0.63% on September 6.