Reserve Fund up 1.4 bln rubles, NWF almost unchanged in Jan - MinFin
MOSCOW. Feb 2 (Interfax) - The overall size of Russia's sovereign Reserve Fund on February 1, 2017, was 973.53 billion rubles, or $16.18 billion, and the National Welfare Fund (NWF) was just under 4.3593 trillion rubles, or $72.46 billion, the Russian Finance Ministry said in a statement.
On January 1, 2017, the Reserve Fund was at 972.13 billion rubles ($16.03 billion) and the NWF was 4.35916 trillion rubles ($71.87 billion), so the Reserve Fund was up 1.4 billion rubles and the NWF grew 0.14 billion rubles during January.
The funds grew as the result of FX revaluation.
The remaining funds on separate accounts of the Reserve Fund on February 1 totaled $7.62 billion, 6.71 billion euro and 1.1 billion pounds.
The total calculated amount of revenue from holding money from the Reserve Fund on foreign currency accounts in the Bank of Russia, converted to dollars for the period of December 15, 2016 to January 31, 2017 totaled $10 million, or 490 million rubles.
The exchange rate difference from converting the rest of the funds for the period from Feburary 1 to January 31, 2017 was 1.4 billion rubles.
NWF funds on separate accounts in the Bank of Russia totaled $19.51 billion, 20.76 billion euros and 3.83 billion pounds.
Vnesheconombank deposits had a total of 198.23 billion rubles and $6.25 billion, $3 billion of Ukrainian Eurobonds, and 112.63 billion rubles and $4.11 billion in Russian securities tied to self-financing infrastructure projects. A total of 278.99 billion rubles are held in preferred shares of credit organizations, and 164.43 billion rubles on deposits in VTB and Gazprombank with the goal of financing self-sustaining infrastructure projects.
The total calculated revenue from holding NWF funds in foreign currency accounts in the Bank of Russia, converted to dollars, for the period of December 15, 2016 to January 31, 2017 totaled $0.01 billion, or 0.82 billion rubles.
The exchange rate difference from converting the funds between Feburary 1 and January 31 totaled 0.14 billion rubles. This included the remaining funds of foreign currency accounts in the bank of Russia, totaling 6.76 billion rubles as well as a loss of 3.1 billion rubles from dollar deposits in VEB, a loss of 1.49 billion rubles from Ukrainian bonds and a loss of 2.04 billion rubles from Russian securities denominated in foreign currency connected with the implementation of self-financing infrastructure projects.
Total revenue from holding NWF funds in financial assets, excluding those held with the Bank of Russia, in January totaled 3.39 billion rubles, or $0.06 billion.
In January the federal budget received 1.05 billion rubles, or the equivalent of $20 million, from placement of NWF funds on deposits with VTB, 2.11 billion rubles or the equivalent of $40 million on deposits with VEB, and 240 million rubles or the equivalent of $4 million, on securities of Russian issuers associated with sustainable infrastructure projects.