Reserve Fund edges down 27 bln rubles in March, NWF - 23 bln rubles
MOSCOW. April 1 (Interfax) - Russia's Reserve Fund totaled 3.121 trillion rubles ($87.46 billion) as of April 1, 2014 and the National Welfare Fund (NWF) was at 3.123 trillion rubles ($87.5 billion), the Finance Ministry said in a statement.
The Reserve Fund totaled 3.148 trillion rubles ($87.33 billion) on March 1 and the NWF was at 3.145 trillion rubles ($87.25 billion).
In other words, the Reserve Fund declined in value by 26.75 billion rubles in March and the NWF declined by 22.83 billion rubles.
Reserve Fund accounts contained $38.08 billion, 29.4 billion euro and 5.4 billion pounds sterling as of April 1, 2014.
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 $0.12 billion, or the equivalent of 4.27 billion rubles, in the period from January 15 to March 31, 2014. The exchange rate difference on revaluation of balances on these accounts from January 1 to March 31 was positive 261.61 billion rubles.
NWF accounts with the Central Bank contained $24.58 billion, 24.09 billion euro and 4.38 billion pounds as of April 1. Accounts with Vnesheconombank (VEB) held 474.02 billion rubles and $6.25 billion. Investment in sovereign foreign debt instruments, not subject to long-term solvency rating requirements, totaled $3 billion.
Revenue from depositing NWF funds on foreign currency accounts with the Central Bank in the period January 15-March 31 and converted into dollars was $0.09 billion or the equivalent of 3.23 billion rubles.
The exchange rate difference on the revaluation of balances on deposits at the Central Bank from January 1 to March 31 was 194.5 billion rubles, the exchange-rate difference on revaluation of NWF dollar deposits at VEB was 18.5 billion rubles and the exchange rate difference on investment in sovereign foreign debt instruments, not subject to long-term solvency rating requirements, was 8.87 billion rubles.
Revenue from depositing NWF funds with VEB in the period January 15-March 31 converted into dollars was $0.21 billion or the equivalent of 6.89 billion rubles.
