Amount of Russian National Wealth Fund Reached USD 87.27 bn
OREANDA-NEWS. In order to co-finance the formation of pension savings funds of insured persons who made additional insurance premium payments on the funded portion of their labour pensions in 2012, a part of the National Wealth Fund’s financial resources in foreign currency in the accounts with the Bank of Russia, namely, 0.08 billion US dollars, 0.06 billion euros and 0.01 pound sterling was sold in April of 2013 for 5.71 billion rubles and the funds received were transferred into the account to record federal budgetary funds.
As of May 1, 2013, the aggregate amount of the National Wealth Fund was 2 727.79 billion rubles which is equivalent to 87.27 billion US dollars including:
1) In separate accounts to record funds of the National Wealth Fund with the Bank of Russia:
* 27.58 billion US dollars;
* 24.09 billion euros;
* 4.38 billion pounds sterlings;
2) 474.02 billion rubles and 6.25 billion US dollars were deposited with Vnesheconombank.
In April of 2013, incomes from placing the Fund’s financial resources on Vnesheconombank’s deposits in the amount of 6.74 billion rubles, which is equivalent to 0.22 billion US dollars, were transferred to the federal budget.
The aggregate income from placing the Fund’s financial resources on Vnesheconombank’s deposits from January to April 2013 amounted to 13.61 billion rubles which is equivalent to 0.44 billion US dollars.
The aggregate calculated income from placing funds of the National Wealth Fund in foreign currency accounts of the Bank of Russia recalculated in dollars for a period from January 15 to April 30, 2013, was 0.14 billion US dollars, which is equivalent to 4.43 billion rubles. The exchange rate difference from recalculating balances of funds in the said accounts from January 1 to April 30, 2013 was a positive value of 37.35 billion rubles. The exchange rate difference from recalculating funds placed on Vnesheconombank’s deposits in US dollars was 5.52 billion rubles.
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