Reserve Fund rises 128.6 bln rubles in May, Nat'l Welfare Fund 154.26 bln rubles
MOSCOW. June 1 (Interfax) - Russia's Reserve Fund stood at 1.954 trillion rubles on June 1 and the National Welfare Fund at 2.774 trillion rubles, the former up 128.6 billion rubles over last month and the latter 154.26 billion rubles, the Finance Ministry said.
The Reserve Fund was at 1.825 trillion rubles ($62.16 billion) and the National Welfare Fund at 2.620 trillion rubles ($89.21 billion) on May 1.
Reserve Fund accounts contained $27.42 billion, EUR21.45 billion and GBP3.88 billion as of June 1.
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 $0.24 billion, or the equivalent of 7.95 billion rubles, in the period from January 15 to May 31, 2012. The exchange rate difference on revaluation of balances on these accounts from January 1 to May 31, 2012 was plus 51.99 billion rubles.
NWF accounts with the Central Bank contained $27.66 billion, EUR24.15 billion and GBP4.39 billion as of June 1. Another 474.02 billion rubles and $6.25 billion had been deposited with Vnesheconombank (VEB).
The total estimated amount of revenue from placement of NWF assets in foreign currency accounts at the Central Bank, in the U.S. dollar equivalent, was $0.29 billion, or the equivalent of 9.47 billion rubles, in the period from January 15 to May 31, 2012. The exchange rate difference on revaluation of balances on these accounts from January 1 to May 31, 2012 was minus 18.38 billion rubles. The exchange rate difference on revaluation of NWF dollar deposits at VEB was 1.59 billion rubles.
In May, the federal budget received 370 million rubles (the equivalent of about $10 million) from the placement of NWF funds in VEB deposits. Total revenues from placing funds in VEB deposits from January to May equaled 15.47 billion rubles, or $510 million.