Page 61 - RusRPTMar21

Russia key trade results $bn
Indicators
January - February 2020 (estimate)
January - February 2019
Current account
16
22.6
Trade balance
22.8
30.9
Private Sector Financial Balance
12.7
17.8
Change in reserve assets *
14.9
6.1
source: CBR
5.2.4 Gross international reserves
Russia had $590.7bn as hard currency reserves as of the end of January and $183.93 in the NWF as of the start of this year, the latest data available. This level of reserves is just shy of the all time high set in 2008 before the crash of $593bn.
The Russian Finance Ministry has cut the share of the dollar and euro in the National Wealth Fund to 35% from 45%, and raised the yen share to 5% from zero and the yuan share to 15% from zero, the ministry said in a statement on February 24 as cited by Prime. "The Finance Ministry of Russia informs that in accordance with the government order... the Japanese yen and Chinese yuan were included in the currency structure of National Wealth Fund money with shares amounting to 5% and 15%," the ministry said. The share of the British pound remained at 10%. The changes were aimed at increasing the yield and diversification of investment risks from placement of National Wealth Fund money.
61 RUSSIA Country Report March 2021 www.intellinews.com