Russian Reserve Fund down 25.6 bln rubles, Welfare Fund down 22.15 bln rubles in Dec - MinFin
MOSCOW. Jan 14 (Interfax) - Russia's sovereign Reserve Fund contained just under 2.86 trillion rubles ($87.38 billion) and the National Welfare Fund (NWF) just over 2.9 trillion rubles ($88.63 billion) on January 1, down from 2.885 trillion rubles ($86.06 billion) and 2.923 trillion rubles ($88.06 billion), respectively, on December 1, the Finance Ministry said.
In other words, the Reserve Fund fell 25.57 billion rubles and the NWF fell 22.15 billion rubles during December.
Reserve Fund accounts contained $38.08 billion, 29.4 billion euros and 5.4 billion pounds sterling as of January 1, 2013.
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 $0.11 billion, or the equivalent of 3.85 billion rubles, in the period from January 15 to December 31, 2013. The exchange rate difference on revaluation of balances on these accounts from January 1 to December 31 was 260.57 billion rubles.
NWF accounts with the Central Bank contained $24.58 billion, 24.09 billion euros and 4.38 billion pounds as of January 1. Accounts with Vnesheconombank (VEB) held 474.02 billion rubles and $6.25 billion.
Revenue from depositing NWF funds on foreign currency accounts with the Central Bank in the period January 15-December 31 and converted into dollars was $0.08 billion or the equivalent of 2.74 billion rubles. The exchange rate difference on the revaluation of balances on these deposits from January 1 to December 31 was 216.02 billion rubles. This included 201.94 billion rubles on forex deposits with the Central Bank, 14.74 billion rubles on dollar deposits at VEB and negative 0.66 billion for funds invested in the debt obligations of other states.
The federal budget received 1.57 billion rubles or the equivalent of $0.05 billion in December from NWF funds deposited with VEB.
Overall revenue from depositing NWF funds with VEB last year was 30.45 billion rubles or the equivalent of $0.96 billion.
