SOURCE / ECONOMY
RMB included in Russia's national wealth fund
Published: Feb 25, 2021 08:26 AM

A staff member displays the banknotes and coins included in the 2019 edition of the fifth series of the renminbi at an Industial and Commercial Bank of China (ICBC) branch in Beijing, capital of China, Aug. 30, 2019.(Photo: Xinhua)


 
The Chinese yuan and the Japanese yen have been included in the regulatory currency structure of Russia's National Wealth Fund (NWF), the country's Finance Ministry announced Wednesday.

The yuan accounts for 15 percent and the yen 5 percent of the foreign currencies portfolio of the NWF, the ministry said in a press release.

The shares of the U.S. dollar and the euro have been lowered from 45 percent to 35 percent each, with the British pound unchanged at 10 percent, it added.

"These changes are aimed at increasing profitability and diversifying investment risks," the ministry said.

The NWF, part of federal budget assets, is dedicated to supporting Russia's pension system to guarantee its long-term sound functioning.
blog comments powered by Disqus