Biggest exporters cut FX sales 15% to $12 bln in July - Central Bank of Russia

MOSCOW. Aug 9 (Interfax) - The biggest exporters cut foreign currency sales 15% to $12 billion in July from $14.2 billion in June, the Central Bank of Russia said in a financial meets risk report.

The Central Bank said this was due to a high base in June, a month of large dividend payouts, for which exporters sold foreign currency.

The ratio of net FX sales to FX the export revenue of the largest exporters in May 2024 - the Central Bank gives this indicator with a one-month lag - was 108%, increasing from 104% in April, in the context of the sale of currency accumulated earlier in deposits.

Individuals continued to reduce currency purchases in July, buying it for 39 billion rubles, down 61.5% from 100.2 billion rubles in June and down 78.3% from 178.9 billion rubles in May.