Russia's oil wealth funds rise to $189 billion

MOSCOW (Reuters) - Russia's two oil wealth funds totaled 4.79 trillion rubles ($189.7) as of October 1, around eight percent higher than a month ago, Finance Ministry data showed on Wednesday.

Of that, the Reserve Fund, which serves as a safety cushion for the budget and is set at approximately 10 percent of Russia's GDP, totaled $140.98 billion, down slightly from $142.6 billion on September 1.

The National Wealth Fund, earmarked for riskier investments, stood at $48.68 billion, up from $31.9 billion a month ago.

Deputy Finance Minister Dmitry Pankin said in August that the reserve fund has been filled for this year and any further cash from high oil prices will go into the wealth fund.

(Reporting by Toni Vorobyova)