The gold and foreign exchange reserve, which is also called the gold and foreign exchange reserve, is a so-called buffer administered by the country's Central Bank or the Ministry of Finance. According to estimates for 2012, the total volume of gold mined in the world reached 174, 1 thousand tons, and about 60% of this amount was produced after 1950, and the volume of gold reserves of the countries of the world was 30 thousand tons.
Instructions
Step 1
The calculation of such reserves is administered by the World Gold Council, which was founded in 1984 with the aim of working with the world's leading producers of gold and stimulating its reserves. The organization's specialists also note an interesting trend: 30 thousand tons is much less than 38 thousand tons in 1965. Moreover, at present, experts predict the future growth of gold and foreign exchange reserves after the crisis of 2008.
Step 2
The main purpose of the formation of such reserves is the need to provide the national currency of the state with an equivalent value, which is expressed in gold. They are and perform the role of the so-called anti-crisis reserve, designed to stabilize or adjust the exchange rate of the country. In addition, gold is good because, unlike paper money, it can be used at any time to pay for government needs, payments and obligations. It is logical that large reserves of gold provide the state with greater economic and political independence.
Step 3
As of early 2014, the largest gold reserves are held by the US government. This country is already followed by Germany and the IMF (International Monetary Fund). The gold and foreign exchange reserve of the Eurozone by January 1, 2014 reached 10, 787 thousand tons, which gives the euro currency greater stability. The following countries of the European Union, which are not part of the Eurozone, have their gold reserves - Great Britain with 310.3 tons, Sweden with 125.7 tons, Romania with 103.7 tons and Poland with 102.9 tons.
Step 4
Unlike Russia, in which the gold and foreign exchange reserve began to form only after Yegor Gaidar's reforms in the early 90s of the last century, in the United States, it received a basis even in the midst of the Great Depression. In 1933, the country's parliament issued Decree No. 6102, according to which the nationalization of gold took place, when legal entities and individuals were obliged to hand over the metal to the state at a stable price of 20.66 US dollars per troy ounce. Then, after the end of the gold collection, the official price climbed to $ 35. In Germany, the formation of the gold and foreign exchange reserve began in 1951, and by 1968 the size of the reserves had reached 4 thousand tons of gold.
Step 5
According to the results of the first quarter of 2014, the Russian Federation took the 6th place in the world in terms of the volume of official gold reserves in state reserves, when the stock of metal in the country amounted to 1, 104 thousand tons. Moreover, about two-thirds of the Russian reserve is stored in the Moscow vault of the Central Bank of the Russian Federation.
