January 13, 2020 / 9:58 AM / 5 days ago

CORRECTED (OFFICIAL)-Russian finance ministry to double daily FX purchases in January

(The finance ministry corrects overall FX buying amount for month ahead, corrects figure in the second paragraph)

MOSCOW, Jan 13 (Reuters) - Russia’s finance ministry said on Monday it would buy 18.2 billion roubles ($298.70 million) worth of foreign currency a day between Jan. 15 and Feb. 6, an increase from 9.3 billion roubles a day during its last run of purchases.

FX purchases on the market will total 309.9 billion roubles over that period, up from the 195.5 billion roubles the ministry had planned to spend between Dec. 6 and Jan. 14.

A Reuters survey showed analysts had on average expected state FX purchases to reach 235 billion roubles between Jan. 15 and Feb. 6.

Since February 2019 the central bank has been carrying out the FX purchases it postponed in 2018 due to high rouble volatility. This means that FX purchases in January could be higher than those outlined in the ministry’s initial plan. ($1 = 60.9305 roubles) (Reporting by Andrey Ostroukh; Editing by Alexander Marrow)

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