ФА при правительстве РФ National Gold and Currency Reserves A.Salogubov FM2-1 Moscow 2009

Contents Gold reserves Currency reserves Forex reserves Reserve currency

National reserves GoldCurrency Forex reserves

National gold reserves Gold reserves (or gold holdings) are held by central banks as a store of value. The amount of gold held by a national bank, which is used for dealing with national banks of other countries. Convertible currency Gold Standard

World official gold holding (March 2009) RankCountry/OrganizationGold (tones) 1Eurozone10, United States8, Germany3, International Monetary Fund3, France2, Italy2, China1, Switzerland1, Japan Netherlands India European Central Bank Russia523.7

National Currency Reserves Currency reserves – the foreign currency deposits and bonds held by central banks and monetary authorities.

Forex reserves Gold Foreign currency SDRs IMF reserve positions

Purpose of forex reserves To back liabilities To stabilize the value of the domestic currency To attempt to influence exchange rates

Reserve Currency A foreign currency held by central banks and other major financial institutions as a means to pay off international debt obligations, or to influence their domestic exchange rate.

Currency composition of official foreign exchange reserves (%) Currency\year U.S. Dollar Euro Deutsche mark Pound sterling Japanese yen French franc Swiss franc Other

Currency composition of official foreign exchange reserves (U.S.Dollar and Euro)

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