The Russian Finance Ministry said on Tuesday it had finally brought the share of US dollar in the National Wealth Fund (NWF) to zero, and of the British pound to 5%, increasing euro and yuan shares to 39.7% and 30.4%, respectively.
“The Russian Finance Ministry reports the completion on 5 July 2021, of the conversion operations necessary to bring the actual structure of the NWF funds to the new regulatory structure”, the statement says.
As a result of these operations, the US dollar was excluded from the structure of the NWF funds, while the share of the pound sterling was reduced to 5.0%.
The share of the euro and the Chinese yuan increased to 39.7% and to 30.4%, respectively, whereas the share of the Japanese yen was 4.7%, and the share of non-cash gold 20.2%
In June 2021, the NWF decreased by 363 billion rubles to 13.575 trillion rubles, and in dollars — by $1.8 billion to $187.6 billion, the ministry said.
