July 3, 2019 / 9:09 AM / 18 days ago

Russian finance ministry to cut daily FX purchases in July

MOSCOW, July 3 (Reuters) - Russia’s finance ministry said on Wednesday it would buy 10 billion roubles ($157.57 million) worth of foreign currency per day between July 5 and Aug. 6, compared with 16.3 billion roubles a day in the previous period.

Total FX purchases on the market will be at 231.0 billion roubles, compared with 310.3 billion in the previous month, the ministry said.

A Reuters poll showed analysts had on average expected state FX purchases to reach 285 billion roubles in the period from July 5 to Aug. 6.

The actual amount of purchases will be higher than the finance ministry had planned as the central bank this year started carrying out the FX purchases it had postponed in 2018 due to the rouble’s volatility. ($1 = 63.4625 roubles) (Reporting by Anna Rzhevkina Editing by Andrey Ostroukh)

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