USD excluded from Russia's national wealth fund, RMB share up to 30.4 pct

2021-07-07 07:48:40Xinhua Editor : Wang Fan ECNS App Download

The U.S. dollar has been excluded from the foreign currencies and gold portfolio of Russia's National Wealth Fund (NWF), the country's Finance Ministry announced on Tuesday.

The ministry said in a press release that conversion operations were completed on Monday to change the structure of the NWF.

As a result of these transactions, the shares of the euro and the Chinese yuan in the foreign currencies and gold portfolio were increased to 39.7 percent and 30.4 percent, respectively, while those of the British pound and the Japanese yen were reduced to 5 percent and 4.7 percent, respectively.

The share of non-monetary gold stood at 20.2 percent.

The ministry announced in February that the Chinese yuan and the Japanese yen had been included for the first time in the foreign currencies portfolio of the NWF.

The NWF, part of federal budget assets, is dedicated to supporting Russia's pension system to guarantee its long-term sound functioning.


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