June 3, 2020 / 9:14 AM / a month ago

Russian finance ministry to trim daily FX sales in June

MOSCOW, June 3 (Reuters) - Russia’s finance ministry said on Wednesday it will sell 10.2 billion roubles ($149.17 million) worth of foreign currency a day between June 5 and July 7, cutting its daily FX operations from the previous month.

FX sales on the market will total 203.7 billion roubles ($2.98 billion) over the next month, the ministry said. That figure is higher than the 163 billion roubles predicted by analysts surveyed by Reuters.

In the previous period, between May 13 and June 4, the ministry had planned to sell 193.1 billion roubles, or 11.4 billion roubles a day.

Daily FX sales since March have helped the rouble limit losses caused by a slump in oil prices and an outbreak of the novel coronavirus. ($1 = 68.3804 roubles) (Reporting by Andrey Ostroukh; Editing by Gabrielle Tétrault-Farber)

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