The Reserve Fund of the Russian Federation grew by 1.8%

The volume of the reserve fund of the Russian Federation as of November 1, 2012 reached 1.934 trillion rubles. ($ 61.35 billion). This evidence suggests an increase of 1.8% compared with the data on October 1. This is stated in the report of the Ministry of Finance.

It also increased the volume and the National Welfare Fund, the index rose by 1.5% to 2.749 billion rubles. ($ 87.19 billion). The growth of the Reserve Fund and National Welfare Fund associated with a slight depreciation of the ruble in October against the U.S. dollar and the euro.

The fact that the management of the funds and SWFs under current laws of the Russian Federation shall be effected by the acquisition of the funds of funds in foreign currency and its placement on the accounts of the NWF and the Russian Federation in foreign currencies in the Central Bank of the Russian Federation. Thus for the use of the funds in these accounts the Central Bank of the Russian Federation shall pay interest, the bank account specified in the agreement.

In doing so, the speaker is quite expected, since most of the factors shows a downward trend of the ruble, so in the future exchange rate differences will continue to have a positive impact on the amounts in the FNB and the Russian Federation, but maybe a little short-term decline due to the strengthening of the ruble in the individual periods.

In the coming years the funds will be actively filled. In particular, if the actual price of oil will exceed the base, that is budgeted, the additional income, in accordance with the current regulations will be sent to the Reserve Fund until such time as its volume of 7% of GDP.

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