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Russia FinMin to reduce daily FX purchases to $58,000 in July
July 5, 2017 / 9:15 AM / a month ago

Russia FinMin to reduce daily FX purchases to $58,000 in July

MOSCOW, July 5 (Reuters) - The Russian finance ministry said on Wednesday it would buy 74.3 million roubles ($1.24 million) worth of foreign currency for state coffers in July after spending 45 billion roubles on foreign currency purchases in the preceding month.

The daily purchases will amount to around 3.5 million roubles ($58,000) between July 7 and August 4, the finance ministry said, down from 2.1 billion roubles between June 7 and July 6.

Analysts polled by Reuters had on average expected the finance ministry to reduce its average daily foreign-currency purchases on the domestic market to about 1.31 billion roubles in July.

$1 = 59.8800 roubles Reporting by Polina Nikolskaya; Editing by Andrey Ostroukh

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