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POLL-Russia seen cutting state FX purchases in September

Credit: REUTERS/MAXIM SHEMETOV

Russia's finance ministry is expected to lower its purchases of foreign currency for state reserves in September, a Reuters poll showed on Monday.

reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/econ-polls?RIC=RUDMIN%3DECI poll results

Finance ministry to reveal FX buying plan on Sept. 4

MOSCOW, Sept 2 (Reuters) - Russia's finance ministry is expected to lower its purchases of foreign currency for state reserves in September, a Reuters poll showed on Monday.

The finance ministry is due to announce its purchasing plan for the month ahead on Wednesday at 0900 GMT.

The median forecast from the survey of 10 analysts suggested Russia would buy 212.5 billion roubles ($3.2 billion) worth of foreign exchange in regular purchases on the open market from Sept. 6 to Oct. 4.

Individual forecasts ranged from 190 billion roubles to 260 billion roubles.

Daily purchases are expected to decline to 10.1 billion roubles, according to Reuters estimates.

In the previous period, from Aug. 7 to Sept. 5, the ministry had planned to buy 246.2 billion roubles, or 11.2 billion roubles per day.

Since Feb. 1, the central bank has been carrying out FX purchases it postponed in 2018 due to high rouble volatility, meaning the final buying figure for September may end up higher than the ministry's initial plan.

($1 = 65.9950 roubles)

(Reporting by Andrey Ostroukh; Editing by Hugh Lawson)

((andrey.ostroukh@thomsonreuters.com; +7 495 775 1242;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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