Monetary gold as a component of international reserves of central banks
Oleksandr LYUBICH,
Gennadiy BORTNIKOV
Abstract:Introduction. International reserves of central banks (CBs) are used to support the exchange rate of national currencies and have an impact on the monetary policy. In the unified standards of the IMF, international reserves include only gold, and not all precious metals. The state can call on its reserves in case of emergencies, so they are often compared with the volume of imports. It was natural to expect changes in the structure of international reserves due to the coronavirus pandemic. Problem Statement. M… Show more
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