Stab. Fund Worth 4 Trillion Rubles
As of January 1, the Russian stabilization fund contained 3,849,110,000,000 rubles, or $156.81 billion, according to the Russian Finance Ministry. Part of that sum is kept in foreign currency, specifically, $66.85 billion, ˆ50.95 billion and £7.7 billion. In December, 183.09 billion rubles in budget surplus from November was placed in the fund.
The fund earned 151.89 billion rubles from its investment last year. The fund earned $330 million, or 8.01 billion rubles, between December 15 and 31, 2007. Since July 24, 2006, when investing began with stabilization fund money, it has earned 6.04-percent interest on funds in dollars, 3.52 percent on euro and 5.62 percent on pounds.
The fund lost 160 million rubles between December 15 and 31, 2007, in foreign exchange rate changes.
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