Russian finance ministry to increase daily FX sales in October

MOSCOW (Reuters) - Russia’s finance ministry said on Monday it will sell 5.8 billion roubles ($74 million) worth of foreign currency a day between Oct. 7 and Nov. 6, increasing its daily FX operations from the previous month.

Regular FX sales on the market will total 126.9 billion roubles over the next month, the ministry said. That figure is larger than the 86 billion roubles predicted by analysts surveyed by Reuters.

In the previous period, between Sept. 7 and Oct. 6, the ministry had planned to sell 54 billion roubles, or 2.5 billion roubles a day.

Daily FX sales since March have helped the rouble limit losses caused by a slump in oil prices and the coronavirus pandemic.

Reporting by Andrey Ostroukh; editing by Alexander Marrow