Registration was successful!
Please follow the link from the email sent to

Russian National Wealth Fund to Decrease Share of Dollar to Zero, Finance Minister Says

© REUTERS / Jo Yong hakAn employee of the Korea Exchange Bank counts one hundred U.S. dollar notes during a photo opportunity at the bank's headquarters in Seoul April 28, 2010
An employee of the Korea Exchange Bank counts one hundred U.S. dollar notes during a photo opportunity at the bank's headquarters in Seoul April 28, 2010 - Sputnik International, 1920, 03.06.2021
Subscribe
ST. PETERSBURG (Sputnik) - The Russian Ministry of Finance will introduce changes to the structure of the National Wealth Fund within a month, as the share of the US dollar will decrease to zero and the share of yuan will grow to 30 percent.

"Just as the Central Bank, we made a decision to reduce the National Wealth Fund investment in dollar assets ... We made a decision to abandon the dollar assets completely and to increase the share of euros and gold instead. The share of dollars will amount to zero, euros - 40 percent, yuan - 30 percent, gold - 20 percent, pound and yen - 5 percent each", Siluanov told reporters at the St. Petersburg International Economic Forum (SPIEF).

People visit the stand of the Russian Direct Investment Fund (RDIF) during the St. Petersburg International Economic Forum (SPIEF)  - Sputnik International, 1920, 02.12.2020
Russian Sovereign Wealth Fund Sets Up Health Care Investment Project as Strategic Priority
According to the finance minister, this will happen "quite quickly, within a month".

This year's forum takes place in person from Wednesday through Saturday at the ExpoForum Convention and Exhibition Centre in the Russian city of St. Petersburg. The Rossiya Segodnya International Information Agency, an umbrella media organisation that includes such brands as Sputnik, RIA Novosti, InoSMI, and Baltnews, among others, is an official media partner of the event.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала