December 4, 2019 / 9:02 AM / 4 days ago

Russian finance ministry to cut daily FX purchases in December

MOSCOW, Dec 4 (Reuters) - Russia’s finance ministry said on Wednesday it would buy 9.3 billion roubles ($145.69 million) worth of foreign currency a day between Dec. 6 and Jan. 14, a decrease from 11.4 billion roubles a day during its last run of purchases.

FX purchases on the market will total 195.5 billion roubles over that period, down from the 228.2 billion roubles the ministry had planned to spend between Nov. 8 and Dec. 5.

A Reuters survey showed analysts had on average expected state FX purchases to reach 250 billion roubles between Dec. 6 and Jan. 14.

The total amount of state FX purchases will be higher as the as the central bank this year resumed FX purchases that were postponed in 2018 due to the rouble’s volatility. ($1 = 63.8345 roubles) (Reporting by Andrey Ostroukh; Editing by Alexander Marrow)

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