UPDATE 1-Russia finmin: won't change reserves significantly

Fri Jun 12, 2009 11:19pm BST
[-] Text [+]

* No plans to change dollar policy for at least a year

* $10 billion "not significant" for Russia reserves

* IMF bonds to be bought from fresh reserve funds

(Adds quotes, details, background)

By Toni Vorobyova

LECCE, Italy, June 12, (Reuters) - Russia will not "significantly" change the structure of its reserves, its finance minister said on Friday, two days after plans to reduce its holdings of U.S. bonds prompted a fall by the dollar.

On Wednesday, first deputy central bank chairman Alexei Ulyukayev said the share of U.S. Treasuries in Russia's $400 billion reserves would fall as it bought International Monetary Fund bonds and put more money into foreign bank deposits.

Russian officials said about $10 billion of IMF bonds would be bought as part of an IMF drive to raise funds.[ID:nLA1052951]

But finance minister Alexei Kudrin said on Friday, "We are not going to significantly change the structure of our investments.  Continued...

 
by Name by Symbol