Reserve Fund up 89 bln rubles, NWF rises 72 bln rubles in May - MinFin
MOSCOW. June 1 (Interfax) - The overall size of Russia's sovereign Reserve Fund on June 1, 2015, was 4.039 trillion rubles, or $76.25 billion, and the National Welfare Fund (NWF) was 4.019 trillion rubles, or $75.86 billion, the Russian Finance Ministry said in a statement.
On May 1, 2015, the Reserve Fund was at 3.95 trillion rubles, or $76.41 billion, and the NWF - 3.946 trillion rubles, or $74.92 billion.
The Reserve Fund therefore grew 88.88 billion rubles and the NWF grew 72.09 billion rubles during May.
The total estimated amount of revenue from placement of Reserve Fund assets in foreign currency accounts at the Central Bank, in the U.S. dollar equivalent, was $0.06 billion, or 2.97 billion rubles, in the period from January 1 to May 31, 2015. The exchange-rate difference on the conversion of funds on these accounts was negative 406.22 billion rubles.
The accounts of the Reserve Fund contained $37.26 billion, 28.27 billion euro and 5.25 billion pounds sterling as of June 1.
NWF accounts with the Central Bank contained $20.98 billion, 21.99 billion euro and 4.03 billion pounds on June 1, 2015. Accounts with Vnesheconombank (VEB) held 195.03 billion rubles and $6.25 billion. A total of $3 billion was invested in the debt obligations of foreign states on the basis of a special government decision and without requirements for a long-term credit rating. Another 112.63 billion rubles and $1.21 billion were invested in sustainable infrastructure projects, 278.99 billion rubles in the preferred shares of banks and 164.43 billion rubles were deposited with VTB and Gazprombank .
Revenue from depositing NWF funds on foreign currency accounts with the Central Bank in the period January 15-Mat 31 and converted into dollars was $0.04 billion or the equivalent of 1.99 billion rubles.
The exchange-rate difference on the revaluation of NWF balances was negative 360.145 billion rubles for January 1-May 31. This included negative 318.75 billion rubles for funds on foreign currency accounts with the Central Bank, 20.55 billion rubles on funds on USD deposits with VEB, negative 9.86 billion rubles on funds invested in the debt obligations of other states on the basis of a special government decision, and negative 11.06 billion rubles for forex-denominated securities of Russian issuers related to the implementation sustainable infrastructure projects.
The federal budget received 8.32 billion rubles, or the equivalent of $0.14 billion, by placing NWF funds on deposits with VEB and VTB in January-May 2015.