Russian finmin to cut FX and gold purchases by 400% in coming month
Adds details in paragraphs 1, 2, 6
MOSCOW, Aug 5 (Reuters) -Russia's finance ministry said it will cut its purchases of foreign currency and gold by 400% in the month to Sept. 6, compared with the prior monthly period .
The ministry said itspurchases of foreign currencies and gold for the period from Aug. 7 to Sept. 6 would amount to the equivalent of 24.65 billion roubles ($289.8 million), or 1.1 billion roubles per day.
In the previous period between July 5 and Aug. 6, the ministry had targeted foreign currency purchases worth 123.8 billion roubles, or 5.4 billion roubles per day.
Due to separate interventions conducted by the central bank, Russia's overall FX sales for the period will total 7.3 billion roubles a day.
Analysts surveyed by Reuters had predicted the ministry would buy 138.5 billion roubles worth of FX in the month ahead.
The finance ministry said it expects additional oil and gas budget revenues at 166.7 billion roubles in the coming month.
($1 = 85.0500 roubles)
Reporting by Darya Korsunskaya; Writing by Gleb Bryanski; Editing by Alexander Marrow and Sharon Singleton
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