July 10, 2019 / 10:47 AM / a year ago

Foreigners lifted holdings of Russian OFZ bonds to 30% in June - c.bank

MOSCOW, July 10 (Reuters) - The share of Russia’s OFZ treasury bonds held by foreign investors increased slightly to 30% in June, the central bank said on Wednesday.

Foreign demand for OFZ bonds remained strong last month but buying activity largely shifted to the secondary market as the finance ministry cut the supply of the bonds at its weekly auctions, the central bank said.

The decision to cut Russia’s key rate to 7.50% in June helped reduce the volume of carry trade transactions with Russian bonds, the central bank said in a monthly report on financial market risks. (Reporting by Gabrielle Tétrault-Farber and Andrey Ostroukh; Editing by Jan Harvey)

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