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Russia's National Welfare Fund grows somewhat

      RBC, 01.09.2008, Moscow 17:32:11.Russia's National Welfare Fund reached RUB 784.51bn (USD 31.92bn) as of September 1, the Finance Ministry's press office said today. The fund has therefore increased 2.35 percent since August 1 and 0.22 percent since it was established on February 1. The balances of the National Welfare Fund's foreign currency accounts amounted to USD 14.45bn, EUR 9.83bn, and GBP 1.63bn as of September 1.

      Between January 30 and August 31, the estimated proceeds from the investment of the fund's money stood at USD 510m, whereas the revaluation of the balances of foreign currency accounts resulted in a loss of RUB 5.52bn (approx. USD 225m), due to exchange rate fluctuations.

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