Russia seen raising state FX purchases in October
Reuters
Published Oct 01, 2019 08:05AM ET
MOSCOW (Reuters) - Russia's finance ministry is expected to increase its purchases of foreign currency for state reserves in October, a Reuters survey showed on Tuesday.
The finance ministry is due to announce its purchasing plan for the month ahead on Thursday at 0900 GMT.
The median forecast from the survey of eight analysts suggested Russia would buy 221.5 billion roubles ($3.40 billion) worth of foreign exchange in regular purchases on the open market from Oct. 7 to Nov. 7.
Individual forecasts ranged from 180 billion roubles to 230 billion roubles.
Daily purchases are expected to increase to 9.6 billion roubles, according to Reuters estimates.
In the previous period, from Sept. 6 to Oct. 4, the ministry had planned to buy 187.1 billion roubles, or 8.9 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 October may end up higher than the ministry's initial plan.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.