Russia to double yuan share in rainy day fund – Finance Ministry ...News

Russia Today - Economy
Russia to double yuan share in rainy day fund – Finance Ministry
source : Russia Today ( News ) () 25
The balances of the British pound and Japanese yen in the sovereign wealth fund have been reduced to zero The maximum share of Russia’s National Wealth Fund (NWF) that can be held in Chinese yuan will be doubled to 60% as Moscow further reduces exposure to the currencies of ‘unfriendly’ nations, the Finance Ministry has announced.  The permitted share of gold in the NWF will also be doubled, to 40%, while balances in the British pound and Japanese yen have been reduced to zero, the ministry added. The fund, which accumulates revenue from oil exports, was created to support the national pension system and to help c

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