02.08.2011 - Russian reserve fund shrinks 1.6 pct in July
Russia's oil wealth Reserve Fund shrank 1.6 percent in July, Finance Ministry data showed on Monday, due to the mostly negative revaluation of currencies that make up the fund. The Reserve Fund contained 746.84 billion roubles ($27.04 billion) on Aug. 1, compared to 746.84 billion roubles a month ago, and 1.23 trillion roubles a year ago. The Reserve Fund and the second outlet for Russia's windfall oil revenue, the National Welfare Fund, are kept 45 percent in euros, 45 percent in dollars and 10 percent in sterling..............................................Full Article: Source
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