August 5, 2019 / 9:02 AM / 3 months ago

Russian finance ministry to increase daily FX purchases in Aug

MOSCOW, Aug 5 (Reuters) - Russia’s finance ministry said on Monday it would buy 11.2 billion roubles ($172.39 million) worth of foreign currency per day between Aug. 7 and Sept. 5, compared with 10.0 billion roubles a day in the previous period.

FX purchases on the market will total 246.2 billion roubles, compared with 231 billion roubles in the previous month, the ministry said.

A Reuters poll showed analysts had on average expected state FX purchases to reach 250 billion roubles in the period from Aug. 7 to Sept. 5.

The actual amount of state FX purchases will be higher than the finance ministry had planned as the central bank this year started carrying out FX purchases postponed in 2018 due to the rouble’s volatility. ($1 = 64.9700 roubles) (Reporting by Andrey Ostroukh; Editing by Tom Balmforth)

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