Russia will give up the dollar as part of the NWF within a month

The currency structure of the National Wealth Fund (NWF) will be changed within a month, said Finance Minister Anton Siluanov. The share of the dollar in the fund will be reduced to zero from 35%, the shares of the euro and the yuan will be increased to 40% and 30%, respectively. The structure of the fund will include gold for the first time (20%).

“Fast enough. Within a month, ”Mr. Siluanov said about the timing of changes in the structure of the NWF. He noted that the decision to reduce dollar assets was made similar to the decision of the Central Bank. In addition, the share of the pound in the structure of the NWF will be reduced from 10% to 5%, the share of the yen will remain at 5%.

The dollar exchange rate on the Moscow Exchange after reports on the new structure of the NWF fell to 73.15 rubles. (-0.01%) as of 13:22, the euro rate – up to 89.23 rubles. (-0.11%).

The volume of the NWF as of May 1 amounted to 13.8 trillion rubles, the fund’s dollar accounts held $ 39.84 billion. The last time the structure of the NWF changed in February: then the shares of the dollar and the euro were reduced, and the yuan and yen were introduced into the structure. The possibility of investing the fund’s resources in precious metals was provided for by amendments to the Budget Code, signed at the end of 2020 by President Vladimir Putin.