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Russia’s Reserve Fund goes up to nearly RUB 2 trln in May, Sovereign Wealth Fund to 3 trln

June 01, 2012, 20:15 UTC+3
By the period under review, 27.42 billion U.S. dollars
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MOSCOW, June 1 (Itar-Tass) —— Russia’s Reserve Fund has increased by seven percent in May and reached 1,953.88 billion roubles (USD 1 = RUB 33.74) as of June 1, which equals to 60.21 billion U.S. dollars, the Finance Ministry said in its regular report published on Friday.

By the period under review, 27.42 billion U.S. dollars, 21.45 billion euros and 3.88 billion British pounds are the balance of Reserve Fund’s money placed on the accounts of several banks, the document wrote.

Under estimates, the overall dollar-denominated revenues from the placement of the Reserve Fund’s money into the Central Bank of Russia’s foreign-currency deposits reached 0.24 billion U.S. dollars (or 7.95 billion roubles) in the period from January 15 to May 31, 2012, the report underlined.

The total amount of the Russian Sovereign Wealth Fund went up by six percent in May and reached 2,773.78 billion roubles (85.48 billion U.S. dollars), the ministry reported.

Of the aforesaid amount, 27.66 billion U.S. dollars, as well as 24.15 billion euros and 4.39 billion British pounds from the Sovereign Wealth Fund were placed into the accounts of the Central Bank, the document wrote, adding that 474.02 billion roubles and 6.25 billion U.S. dollars were placed in the Vnesheconombank.

The total amount of dollar-denominated revenues from the placement of the Sovereign Wealth Fund’s money into the Central Bank’s foreign-currency deposits made up 0.29 billion U.S. dollars (9.47 billion roubles) over the period from January 15 to May 31.

 

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