Russian net capital inflows hit $10 bln in June

MOSCOW, July 4 (Reuters) - Russia saw net private capital inflows of just under $10 billion in June allowing the country to post modest inflows in the first half of the year, the central bank said on Friday.

The bank said inflows stood at $12.3 billion in the first half of this year compared to $2.6 billion in January-May and outflows of $23.4 billion in the first quarter. Analysts say high capital inflows exert appreciation pressure on the rouble, whose exchange rate the central bank curbs under a managed float by buying dollars on the foreign exchange market.

Net capital inflows into Russia hit a record $82.3 billion in 2007, with funds returning in the fourth quarter after an exodus triggered by the global credit crunch.

Outflows resumed again at the beginning of 2008 but the trend was reversed in the latest months as Russian companies actively returned to the international capital markets.

The inflows could have been also spurred by market expectations of the rouble appreciation by the central bank in May-June.

(Reporting by Tanya Mosolova; Editing by Ron Askew)