OREANDA-NEWS. January 13, 2009. As of January 1, 2009 the aggregate amount of the Reserve Fund was 4 027.64 billion rubles, which is equivalent to 137.09 billion US dollars. As of January 1, 2009 amounts of balances in separate accounts to record funds of the Reserve Fund were:
63.99 billion US dollars;
43.81 billion euros;
7.31 pounds sterling;

As of January1, 2009 Russia’s reserve position in the IMF formed byway of using the Reserve Fund’s financial resources amounted to 446.88 SDR.

The aggregate calculated income from placing funds of the Reserve Fund recalculated in dollars for a period from January 30, 2008 to December 31, 2008 was 6.34 billion US dollars, which is equivalent to 186.20 billion rubles. Calculated amounts of interest income from placing funds of the Reserve Fund into separate accounts in foreign exchange were (in currency of account and ruble equivalent) 2.28 billion US dollars (67.06 billion rubles); 2.21 billion euros (91.69 billion rubles); 0.64 billion pounds sterling (27.45 billion rubles). The exchange rate difference from recalculating balances of accounts to record funds of the Reserve Fund in foreign currency for a period from January 30, 2008 to December 31, 2008, was a positive value of 509.16 billion rubles.

In accordance with Resolution N 766, as of January 1, 2009, 400.00 billion rubles were transferred from the account to record funds of the National Wealth Fund to be deposited with Vnesheconombank and out of this amount:
225 billon rubles to be deposited for a period up to December 31, 2019, with an interest rate of 7% per annum;
175.00 billion rubles to be deposited for a period up October 21, 2013, with an interest rate of 7% per annum including 35.00 billion rubles in December.

Under the Russian Government Resolution dated December 17, 2007, N 892 “ On Making Settlements and Transferring Funds to Form and Use Oil and Gas Revenues of the Federal Budget, Oil and Gas Transfer, Funds of the Reserve Fund and the National Wealth Fund”, in December 2008, oil and gas revenues of the federal budget for November 2008 in the amount of 303.09 billion rubles were used to form the National Wealth Fund in full.

Under Russian Government Resolution dated January19, 2008, N 18 “On the Procedure for Managing Funds of the National Wealth Fund” in November 2008, a part of oil and gas revenues of the federal budget for September, October and November 2008 in the total amount of 742.98 billion rubles was converted into foreign currency. All conversion transactions in funds of the National Wealth Fund were conducted in conformity with the currency structure approved earlier and didn’t have any impact on the conditions of the foreign exchange market.

As of January1, 2008, the aggregate amount of the National Wealth Fund was 2 584.49 billion rubles, which is equivalent to 87.97 billion US dollars. As of January 1, 2009 amounts of balances were:

1)      in separate accounts to record funds of the National Wealth Fund with the Bank of Russia:
33.96 billion US dollars;
24.13 billion euros;
4.38 pounds sterling;

2)      on deposits with Vnesheconombank
400.00 billion rubles.

The aggregate calculated income from placing funds of the National Wealth Fund recalculated in dollars for a period from January 30, 2008 to December 31, 2008 amounted to 1.88 billion dollars, which is equivalent to 55.32 billion rubles. Calculated amounts of interest income from placing funds of the National Wealth Fund into separate accounts in foreign currency were (in currency of account and ruble equivalent): 0.64 billion US dollars (18.85 billion rubles); 0.67 billion euros (27.76 billion rubles); 0.20 billion pounds sterling (8.72 billion rubles). The exchange rate difference from recalculating balances of accounts to record funds of the National Wealth Fund in foreign currency for a period from January 30, 2008 to December 31, 2008 was a positive value of 211.48 billion rubles.

Indicators of aggregate amounts of the Reserve Fund and the National Wealth Fund as well as of calculated incomes from placing funds of the Reserve Fund and the National Wealth Fund were calculated on the basis of official exchange rates of foreign currencies set by the Bank of Russia as of the date prior to the reporting date and of cross rates calculated on the basis of the said exchange rates.

Detailed statistics on transactions in funds of the Reserve Fund and the National Wealth Fund is posted on the Internet site of the Russian Finance Ministry in the following sections: “Reserve Fund and the National Wealth Fund in appropriate subsections in Russian and English, the statistics is updated on a regular basis.