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Journal articles on the topic 'Reserve assets in foreign currency'

Author: Grafiati

Published: 30 May 2022

Last updated: 31 July 2025

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1

Rajan, Ramkishen S., and Sasidaran Gopalan. "India's International Reserves: How Large and How Diversified?" Global Economy Journal 10, no. 3 (2010): 1850202. http://dx.doi.org/10.2202/1524-5861.1623.

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Asymmetric foreign exchange intervention by the Reserve Bank of India (RBI) has resulted in a sustained accretion of India’s foreign exchange reserves. The reserve buildup in India has certainly been impressive, rising from around US$5-6 million in 1991, to nearly US$300 billion in mid 2008. In addition to addressing the issues of reserve adequacy, this paper examines the forms the reserves have taken (asset and currency composition), and the extent to which India’s reserve holdings are diversified. The issue of reserve adequacy was made apparent during the 1990s and early 2000 when rapid rese

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2

Tskhovrebov, M. P. "Expanding the use of the ruble in international settlements." Management and Business Administration, no. 3 (October 19, 2022): 54–63. http://dx.doi.org/10.33983/2075-1826-2022-3-54-63.

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The freezing of Russian assets and the continued risk of new sanctions creates incentives for abandoning the currencies of unfriendly countries and expanding the use of the ruble in cross-border settlements. In addition to prestige, the advantage of the internationalization of the national currency is the reduction of transaction costs and foreign exchange risks of foreign trade participants, which will contribute to the development of foreign trade. An increase in external demand for financial assets denominated in rubles will help increase the depth of the market and reduce the cost of borro

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3

Appala Naidu Dhubireddi and Rohit Yadav. "Foreign exchange reserves and its components in India: A comprehensive analysis." International Journal of Science and Research Archive 14, no. 1 (2025): 1129–38. https://doi.org/10.30574/ijsra.2025.14.1.0156.

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The aim of this research paper is to analyse the impact of various components of foreign exchange reserves on foreign exchange reserves of 2023-24. Moreover, various statistical methods have been used to draw comparison and relationship between forex reserves and its components which are, correlation and regression analysis. This paper provides a robust understanding about the accumulation of forex reserves and composition of its various components ie., foreign currency assets, Gold, SDRs and Reserve Tranche Position in IMF. The major finding is that fall in the forex reserves in this financia

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Ivanchenko, Igor. "Prospects for Creating a Reserve Currency by the Shanghai Cooperation Organization Countries." Spatial Economics 20, no. 3 (2024): 128–53. http://dx.doi.org/10.14530/se.2024.3.128-153.

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The purpose of this study is to clarify the prospects for the creation of a new reserve currency by the (Shanghai Cooperation Organization (SCO) countries to reduce foreign exchange costs in trade transactions, to strengthen integration processes in the Eurasian space, to increase the investment potential of developing Asian countries and to stimulate sustainable economic growth. The paper presents the results of mathematical modeling of the optimal portfolio structure of collateral assets with the possible issuance of a new reserve currency by the SCO countries. The article concludes that cur

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Shubbar, Haidar Diphil, and Andrey Vladimirovich Girinsky. "Reserve assets as sources of replenishing resource base of banking sector and improving its stability." Vestnik of Astrakhan State Technical University. Series: Economics 2019, no. 4 (2019): 130–36. http://dx.doi.org/10.24143/2073-5537-2019-4-130-136.

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The paper focuses on the importance of using reserve assets in order to increase the bank financial stability and the banking system as a whole. The essential requirements for reserving commercial banks have been presented. The methods of regulating the required reserves have been studied. The specific features of applying the required reserves in banking activities (reserve requirements and liquidity, monetary policy, reserve requirements as a monetary tool, reserve requirements as a fiscal tool) have been revealed. The schedule of averaging periods of required reserves for 2019 is being cons

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6

Sheludko, Sergii. "INTERNATIONAL LIQUIDITY AS A BENCHMARK FOR MANAGING THE FINANCIAL SECURITY OF THE STATE." Economics and Management, no. 1 (2025): 156–60. https://doi.org/10.32782/2312-7872.1.2025.22.

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The study aims to substantiate the significance of a state’s international liquidity as a critical benchmark for managing financial security, with a focus on its role during crises. It is contributed to the literature by analyzing the interplay between international liquidity and financial security, using Ukraine’s experience under full-scale military invasion, and evaluating the effectiveness of foreign exchange reserves in mitigating external shocks. The scientific novelty lies in highlighting the conceptual tension between stock and flow approaches to liquidity measurement and empirically i

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PARSHINA, Lyubov' N., and Nina V. BORISOVSKAYA. "Gold in the international reserves of countries." Finance and Credit 27, no. 4 (2021): 763–84. http://dx.doi.org/10.24891/fc.27.4.763.

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Subject. The article addresses the enhanced position of gold as the main international reserve asset of countries. Objectives. The purpose is to prove the increasing role of gold as the main financial asset in the international reserves of countries throughout periods of economic volatility. Methods. The study rests on economic analysis, statistical, economic, and systems approach. Results. Annual changes in the structure of international reserves of the Russian Federation show a decrease in reserve assets denominated in foreign currency. The reserve position in the IMF makes up about 1% of th

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8

Jamalzade, Gunduz, Arif Saldanli, and Elgiz Jamalzade. "FACTORS AFFECTING THE TOTAL FOREIGN EXCHANGE RESERVE ADEQUACY OF THE CENTRAL BANK: TURKEY AND AZERBAIJAN." AGORA INTERNATIONAL JOURNAL OF ECONOMICAL SCIENCES 18, no. 1 (2024): 82–97. http://dx.doi.org/10.15837/aijes.v18i1.6713.

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International foreign exchange reserves are widely acknowledged as a global medium of exchange that possesses a readily available characteristic. Official public assets, which are foreign assets kept and organized by the monetary authorities of countries, serve as a complement to foreign exchange reserves. Adequate levels of foreign exchange reserves are necessary for nations to meet their payment commitments and sustain the stability of their currency. The primary rationale for the Central Bank's decision to maintain liquid foreign exchange reserves is to establish a safeguard against any spe

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9

Ozarnov, Ruslan. "International reserve assets diversification using the euro as one of the "poles" in the polycentric model of the global monetary and financial system." Национальная безопасность / nota bene, no. 5 (May 2023): 1–12. http://dx.doi.org/10.7256/2454-0668.2023.5.68689.

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The article deals with the structure and direction of foreign reserve assets diversification using the euro as one of the "poles" in the polycentric model of the global monetary and financial system under contemporary geopolitical conditions. Diversification of international reserve assets is an important part of financial and economic policy, it allows to reduce the risks associated with reserves and manage volatility, including that of the financial market and foreign exchange as a financial sector, since the information about the international reserves composition influences the economic ag

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10

Eichengreen, Barry, Arnaud Mehl, and Livia Chiţu. "Mars or Mercury? The geopolitics of international currency choice*." Economic Policy 34, no. 98 (2019): 315–63. http://dx.doi.org/10.1093/epolic/eiz005.

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SummaryWe assess the role of economic and security considerations in the currency composition of international reserves. We contrast the ‘Mercury hypothesis’ that currency choice is governed by pecuniary factors familiar to the literature, such as economic size and credibility of major reserve currency issuers, against the ‘Mars hypothesis’ that this depends on geopolitical factors. Using data on foreign reserves of 19 countries before World War I, for which the currency composition of reserves is known and security alliances proliferated, our results lend support to both hypotheses. We find t

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Oleksandra, Vasylchyshyn. "CURRENCY ASPECTS OF FINANCIAL SECURITY OF THE BANKING SYSTEM OF UKRAINE: REGULATORY PRIORITIES AND TRANSFORMATION OF CONTROL." EUREKA: Social and Humanities, no. 3 (May 31, 2018): 15–24. https://doi.org/10.21303/2504-5571.2018.00656.

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The article is devoted to the topical subject – the study of currency aspects of the financial security of the banking system of Ukraine, taking into account the threats of liberalization of cross-border capital transfer and currency regulation. The main objectives of the article are studying the main threats to the currency security of the banking system of Ukraine in the context of the transformation of currency control within the liberalization of currency relations. In particular, the study found that currency security is one of the main components of the financial security of the ba

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12

Weiss, Colin. "Geopolitics and the U.S. Dollar's Future as a Reserve Currency." International Finance Discussion Paper 2022, no. 1359 (2022): 1–37. http://dx.doi.org/10.17016/ifdp.2022.1359.

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I survey the role of geopolitics and sanctions risk in shaping the U.S. dollar's status as the primary currency used for international reserves. Without changes in the economic incentives for holding FX reserves in U.S. dollar assets, an increased threat of sanctions is unlikely to drastically reduce the dollar share of FX reserves. Currently, around three-quarters of foreign government holdings of safe U.S. assets are by countries with some military tie to the U.S. Even a reduced reliance on the U.S. dollar for trade invoicing and debt denomination by a large bloc of countries less geopolitic

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13

Joof, Foday, and Alieu S. Ceesay. "Impact of Foreign Reserves and Economic Growth on Money Supply: Evidence from the WAMZ Countries." Journal of Contemporary Research in Business, Economics and Finance 3, no. 4 (2021): 158–67. http://dx.doi.org/10.33094/26410265.2021.34.158.167.

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This paper analyzes the impact of foreign currency reserve and economic growth on money supply using panel data from five West African Monetary Zone (WAMZ) member states from 2001-2019. The study employed the dynamic technique, fully modified ordinary least squares and dynamic ordinary least squares (FMOLS and DOLS), and the static method (fixed effect model) for the robustness check. The long run results showed that foreign currency reserves (FCR) have a positive impact on money supply, implying that a one percent increase in FCR augments money supply (M2) by 2.87%, 0.44% and 0.08%, respectiv

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14

Imam Abu, Sayed. "Excess Reserve Management of Bangladesh Bank." DIU Journal of Business and Entrepreneurship 10, no. 01 (2016): 19–37. http://dx.doi.org/10.36481/diujbe.v10i1.jaerv413.

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Monetary accounts identity is taken into consideration to derive the excess reserves (ER) of deposit money banks (DMBs). DMBs Taka balance with Bangladesh Bank (BB) in reserve money (RM) minus cash reserve requirement (CRR) results ER in the central banks account. The shortfall of ER can also happen. ER is affected by autonomous and policy factors. Autonomous factor includes net foreign assets (NFA), net position of government and currency in circulation (CIC). The ER is managed through open market operations (OMOs), which is the policy factor. Without BBs intervention four days ER forecast is

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Imam Abu, Sayed. "Excess Reserve Management of Bangladesh Bank." DIU Journal of Business and Entrepreneurship 10, no. 01 (2016): 19–37. http://dx.doi.org/10.36481/jaerv413.

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Monetary accounts identity is taken into consideration to derive the excess reserves (ER) of deposit money banks (DMBs). DMBs Taka balance with Bangladesh Bank (BB) in reserve money (RM) minus cash reserve requirement (CRR) results ER in the central banks account. The shortfall of ER can also happen. ER is affected by autonomous and policy factors. Autonomous factor includes net foreign assets (NFA), net position of government and currency in circulation (CIC). The ER is managed through open market operations (OMOs), which is the policy factor. Without BBs intervention four days ER forecast is

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16

Moldalieva, K. "Gold as the main instrument of macroeconomic stability of the state." ECONOMIC SERIES OF THE BULLETIN OF THE L.N. GUMILYOV ENU, no. 4 (2022): 202–9. http://dx.doi.org/10.32523/2789-4320-2022-4-202-209.

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The article analyzes the international reserves of countries, the concept of gold and foreign exchange reserves and their role in the economy of the state. The volume of the country's gold reserves accumulated in the world economy in the structure of reserves is increasing every year. The positive growth dynamics of gold is associated with their use as a tool to ensure macroeconomic and political stability. International reserves are a determinant of the stability of the national currency, the maintenance of the state creditworthiness and stability. And the accumulation of reserve assets (inte

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17

ORHAN, Mehmet, and Halil Ä°brahim Ã‡ELÄ°KEL . "The Spillover Effects of Fedâ€™s Policies with Emphasis to the Fragile Five." Journal of Economics and Behavioral Studies 6, no. 12 (2014): 1011–20. http://dx.doi.org/10.22610/jebs.v6i12.557.

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Since the Bretton Woods Agreement, the U.S. dollar has played the role of dominant global currency. As a result, the Federal Reserve Bank has many privileges such as the ability to run trade deficits without foreign exchange reserves. In the world, foreign exchange rates of currencies are quoted against the dollar, and majority of currency trading involves the dollar. Besides, international trade in primary commodities, such as oil, wheat, gold and coffee are bought and sold in U.S. dollar. The central banks of countries hold major positions of their international reserves in dollars. Any chan

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18

Mahida, Rinkeshkumar. "COMPARATIVE ANALYSIS OF FX AND GOLD RESERVES AMONG MAJOR ECONOMIES: A STUDY FROM Q1 2020 TO Q1 2024." International Journal of Management, Public Policy and Research 3, no. 3 (2024): 8–19. http://dx.doi.org/10.55829/ijmpr.v3i3.223.

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In order to identify fluctuations, management approaches, correlations, and trends, this research examines the foreign currency (FX) and gold reserves of China, Japan, Switzerland, the United States, and India from Q1 2020 to Q1 2024. We found notable fluctuations in Switzerland's foreign exchange reserves via analysis of quarterly data, whereas the United States gold holdings remained steady. We discovered significant variations in resource management techniques using descriptive statistics and ANOVA. We also observed high cross-national correlations, indicating common impacts and interrelate

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19

Polivach, A. "Rupee vs World Reserve Currencies in Russo-Indian Trade." World Economy and International Relations 68, no. 6 (2024): 29–39. http://dx.doi.org/10.20542/0131-2227-2024-68-6-29-39.

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This article analyses possible connection between sharp depreciation of the Russian Rouble in the second half of 2023 and the growing usage of Indian Rupees for settlement of Russo-Indian trade. Some experts explained that depreciation by the ‘Rupee trap’, which was created by quick growth of Russian exports to India while the opposite flow was not significantly changed. They suggested that superior export revenues of Russian companies from exports to India were accumulated in Rupee accounts in Indian banks. Then somehow, these Rupees have penetrated the foreign exchange market in Russia and h

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20

Tiwari, Saraswoti. "Money Supply Determinants in Nepal: A Macro Analysis." Economic Literature 13 (February 8, 2018): 55. http://dx.doi.org/10.3126/el.v13i0.19151.

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<p>This paper analyzes the major money supply determinants in Nepal in the past 10 years from FY 2004/05 - FY 20014/15. In this study monetary base is determined by two explanatory variables (i.e. NFA and NDC) and are called the 'proximate' determinants of the base money. Among the explanatory variables, the net foreign asset (NFA) is found as better determinant than net domestic assets (NDA) in Nepalese economy. For the analysis of determinants of money multiplier (MM), the three explanatory variables i.e., reserve to total deposits ratio (r), time deposits to demand deposits ratio (t)

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21

Pishchik, V. Ya, and P. V. Alekseev. "Features and Factors of the Implementation of the Function of World Money by Reserve Assets in the Modern GMFS." Finance: Theory and Practice 28, no. 5 (2024): 21–30. http://dx.doi.org/10.26794/2587-5671-2024-28-5-21-30.

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The article analyzes the functional features of the US dollar as a global reserve currency, the factors weakening its position in the global monetary and financial system (GMFS), as well as the directions and trends in the development of the monetary functions of the Russian ruble in international circulation in modern conditions. The purpose of the study is to develop conceptual approaches to the analysis of the functions of money in international circulation in new conditions. The objectives of the study are to analyze the factors and consequences of the changed qualitative and quantitative

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22

Kondro, P. V. "Managing the International Reserve Assets in the Context of Debt Sustainability." Business Inform 9, no. 524 (2021): 189–95. http://dx.doi.org/10.32983/2222-4459-2021-9-189-195.

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The article is aimed at researching the adequacy of international reserve assets, their management in terms of ensuring debt sustainability, as well as financial-economic assessment of liquidity and solvency of the borrowing State. Based on the carried out study, it is determined that liquidity of the State, as a functional element of solvency of the State, provides for the ability of the State to mobilize the necessary resources, taking into account the transactional mechanism of asset transfer from one unit to another in order to ensure an adequate level of solvency of the debtor State. In a

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23

Кузнецова, В. В. "ЗОЛОТОВАЛЮТНЫЕ РЕЗЕРВЫ РОССИИ". Chronoeconomics, № 1(49) (30 березня 2025): 24–31. https://doi.org/10.62832/b3302-4492-6668-x.

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Золотовалютные резервы играют ключевую роль в укреплении экономической стабильности и поддержания национальной валюты на международной арене. В условиях глобальных экономических шоков, сопровождаемых политическими и социальными изменениями, данные ресурсы становятся важнейшими инструментами для предотвращения валютных кризисов и поддержания доверия международных инвесторов. Как гаранты стабильности, золотовалютные резервы обеспечивают необходимую ликвидность для международных расчетов даже в период экономической нестабильности, что делает их стратегически значимыми для любой страны. В мире, гд

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CHEREDNICHENKO, Stanislav. "Foreign exchange market of Ukraine in the categories of post-war renewal of the national economy and implementation of its external economic potential." Economics. Finances. Law 3/2024, no. - (2025): 104–9. https://doi.org/10.37634/efp.2025.3.19.

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The paper systematizes the factors that affect the functioning of the foreign exchange market of Ukraine in the conditions of martial law, namely: deficit and price growth caused by the destruction of infrastructure, blockade of ports, instability of supplies of strategic resources, increasing the load on railway and inland water transport, strengthening state regulation and control, introducing export restrictions on some critically important resources (grain, fuel, metal), reorientation of sales markets, etc. It is shown that Ukraine should take into account the behavior of raw material expo

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Md Isa, Mohamad Azwan, Norashikin Ismail, Ruziah A Latif, Nor Hadaliza Abd Rahman, and Nurul Farhana Mazlan. "CO-MOVEMENT AND CAUSAL RELATIONSHIP BETWEEN STOCK MARKET AND MACROECONOMIC VARIABLES: LATEST EVIDENCE FROM MALAYSIA." Advanced International Journal of Banking, Accounting and Finance 1, no. 1 (2019): 25–35. http://dx.doi.org/10.35631/aijbaf.11003.

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Previous studies pertaining to the co-movement and causal relationship between Malaysian stock markets and domestic macroeconomic variables are by now quite well documented. Nonetheless, to the best of authors’ knowledge, there is a void in the literature about foreign macroeconomic variables. Therefore, this paper aims to examine co-movement and causal relationship between FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBMKLCI) with foreign macroeconomic variables namely world crude oil price, gold price, and five world major stock market indices; Singapore’s Straits Times Index (STI), Chi

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Yang, Ming. "Research On RMB Internationalization Under the International Monetary System." Highlights in Business, Economics and Management 50 (March 13, 2025): 124–29. https://doi.org/10.54097/n54kwd74.

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The existing system of international monetary is still highly influenced by the US dollar. As the main settlement currency for international trade and foreign exchange reserve assets of various countries, the US dollar has a profound impact on the global economy. However, with the US treasury bond reaching a historical high and its holders continuously reducing their holdings, many countries began to explore the construction of a non-US dollar settlement system. In this context, although the RMB internationalization process is in its infancy, it has shown great potential. This article adopts t

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Polivach, A. "Prospects of a Cryptocurrency to Become a New Reserve Currency." World Economy and International Relations 69, no. 7 (2025): 15–26. https://doi.org/10.20542/0131-2227-2025-69-7-15-26.

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Decision of the newly elect president of the USA in March 2025 to establish the Strategic Bitcoin Reserve and United States Digital Asset Stockpile has again put forward a question about prospects of a cryptocurrency to get status of a new reserve currency in a near future. This article analyses such possibility. Modern reserve currencies are those widely used in international transactions and those, whose market is sufficiently liquid. As for crypto-currencies, so available statistics focuses mainly on number of owners and total volumes of ownership or transmissions. Actual use of cryptocurre

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Wardani Umi Maesyaroh and Eranus Yoga Kundhani. "Analisis Faktor-faktor yang Mempengaruhi Cadangan Devisa." Jurnal Ilmu Ekonomi JIE 8, no. 01 (2024): 92–109. http://dx.doi.org/10.22219/jie.v8i01.29769.

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Foreign exchange reserves are assets in the form of foreign currency a country holds and are used in international trade. In addition to being used for international transactions, foreign exchange reserves also play a role in maintaining the stability of the country's economy and financial system. Therefore, this research aims to analyze the factors that influence foreign exchange reserves in the short and long term, such as exports, foreign direct investment (FDI), foreign debt, and interest rates. This research uses the Error Correction Model (ECM) method with data from 1986 to 2021. The res

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Yelemesov, R. E., and A. A. Raimbekova. "CURRENCY MARKET OF KAZAKHSTAN BEFORE AND IN TIME OF PANDEMIA: COMPARATIVE ANALYSIS." Statistika, učet i audit 81, no. 2 (2021): 66–72. http://dx.doi.org/10.51579/1563-2415.2021-2.10.

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Settlements in national and foreign currency are made between residents of the republics participating in various international trade relations and capital flows. With the help of foreign assets, various financial transactions are carried out, gold and foreign exchange reserves of the country are formed, some economic norms and indicators are calculated (target earnings of the bank, private capital, etc.). In connection with this, it is necessary to create a developed foreign exchange market, which will allow to increase the volume of foreign exchange transactions. The article provides a compa

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ŞAHİN, Cumhur. "WHAT ARE SOVEREIGN WEALTH FUNDS? A GENERAL EVALUATION." ZEITSCHRIFT FÜR DIE WELT DER TÜRKEN / JOURNAL OF WORLD OF TURKS / TÜRKLERİN DÜNYASI DERGİSİ 15, no. 3 (2023): 269–80. http://dx.doi.org/10.46291/zfwt/150317.

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Sovereign wealth funds indicate savings of governments other than national reserves. Sovereign wealth funds can be defined as companies which are established in order to achieve macro-economic goals of the government. National reserves are foreign currency assets and gold of goverments in central banks. However, sovereign wealth funds aim to make profits by using national reserves which are redundant and current account surplus. These funds first emerged in 1950’s especially in the Gulf countries, which had an extraordinary revenue stream due to oil revenue, were accepted over time by European

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Muhammad, Naveed Jamil. "Impact the choice of Exchange Rate Regime on Country Economic Growth: Which anchor Currency leading the 21st Century." Journal of Environmental Science and Economics 1, no. 1 (2022): 20–30. https://doi.org/10.5281/zenodo.6165201.

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This study provides a comprehensive currencies history of the exchange rate arrangement of 195 countries; exchange rate regime impacts on countries growth and macroeconomic stability period of 1961 to 2020. New measurements of foreign exchange regimes and under controlling the income level of high, upper-middle, middle, and lower-middle economies; This Study adopt Generalized Method of Movements (GMM) to investigate the impact of exchange rate regimes on the economies and macro-economic stability through Per Capita GDP, GDP growth, Inflation and Foreign Trade. The U.S. Dollar dominated currenc

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Tarasenko, O. A., and T. A. Andronova. "About Currency Restrictions in 2022, Introduced in Respect of Individuals." Courier of Kutafin Moscow State Law University (MSAL)), no. 1 (March 24, 2023): 94–103. http://dx.doi.org/10.17803/2311-5998.2023.101.1.094-103.

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The focus of this article is the currency restrictions imposed by the Russian Federation on resident individuals in response to the deployment by foreign states and their unions of a policy of sanctions pressure on the national banking system. First, the authors identify regulatory windows and types of country sanctions: freezing of reserves and assets of the Bank of Russia, a ban for the Bank of Russia on access to the capital market and a ban on the sale, supply, transfer or export of cash euros and US dollars to Russia. Further, the domestic legal order is analyzed in terms of the introduct

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Heni Mirdania Putri, Fani Muhammad Yamin, Firqi Hidayat, Fiqih Darmawan, and Muhammad Kurniawan. "Pengaruh Ekspor Migas Dan Non Migas Terhadap Cadangan Devisa Di Indonesia Tahun 2014 – 2023." Wawasan : Jurnal Ilmu Manajemen, Ekonomi dan Kewirausahaan 2, no. 3 (2024): 188–201. http://dx.doi.org/10.58192/wawasan.v2i3.2242.

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The current global era is pushing countries in the world, including Indonesia, towards international trade. Financing for international trade activities carried out by Indonesia comes from foreign exchange reserves. Foreign exchange reserves are assets owned or saved in the form of foreign currency for foreign financing sources. This research aims to determine the influence of oil and gas and non-oil and gas exports on foreign exchange reserves in Indonesia. The data that researchers used in this research was secondary data for 10 years, starting from 2014 to 2023, obtained from the Central St

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Kondratov, Dmitriy. "The internationalization of the chinese rmb: road to the status of a world currency." Obshchestvo i ekonomika, no. 8 (2021): 105. http://dx.doi.org/10.31857/s020736760016143-6.

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The economic successes achieved by the PRC in recent years naturally raised the question of the possibility of converting the national monetary unit (yuan) into an international currency, which would play a significant role in servicing the country&apos;s foreign trade and investment relations, and in the turnover of global currency and financial markets. An effective solution to this problem can provide China with a number of long-term geopolitical and economic advantages; in particular, it would significantly increase the competitiveness of the financial system and the inflow of foreign

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Gamaliy, Volodymyr, Nataliia Shalimova, Ruslana Zhovnovach, Maksym Zahreba та Anna Levchenko. "Exchange rates: the influence of political and economic events. а fundamental analysis approach". Banks and Bank Systems 13, № 4 (2018): 131–42. http://dx.doi.org/10.21511/bbs.13(4).2018.12.

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The objective of the article is to study the influence of political and economic factors on the situation on the world foreign exchange market, substantiate the importance of fundamental analysis in forecasting currency rates. The concept and mechanisms of functioning of the world currency market, its assets and specific features in comparison with other financial platforms are considered in the article. The need for special attention to fundamental analysis during the periods of global political and economic events is grounded. Based on the analysis of the dynamics of the leading world curren

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Bazhenova, О., І. Chornodid, Yu Yarmolenko, and О. Golubev. "EARLY WARNING SYSTEM OF EXTERNAL SUSTAINABILITY OF AN ECONOMY: CASE OF UKRAINE." Financial and credit activity problems of theory and practice 4, no. 39 (2021): 503–11. http://dx.doi.org/10.18371/fcaptp.v4i39.241436.

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Abstract. The paper deals with the early warning system that allows monitoring the external sustainability of an economy due to external economic shocks. For this purpose, the analysis of the external sustainability indicators system of an economy (example of Ukraine) was implemented. It consisted of statistical analysis of the system of indicators of external sustainability of an economy, probabilistic assessment of their dynamics due to external economic shocks. The analysis of external sustainability indicators includes verifying their volatility, stability and variability relative to GDP.

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Syaifullah, Andi Mustika, and Ilham A. Fattah. "Impact of Inflation, Forex Reserves, and Exchange Rates on the Composite Stock Price Index of Manufacturing Firms in Indonesia." INVOICE : JURNAL ILMU AKUNTANSI 7, no. 1 (2025): 63–71. https://doi.org/10.26618/inv.v7i1.17668.

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This study aims to analyze the influence of macroeconomic factors, namely inflation, foreign exchange reserves, and exchange rates, on the Composite Stock Price Index (IHSG) in Indonesia. The study utilizes secondary data, including IHSG, inflation rates, foreign exchange reserves, and exchange rate fluctuations on the Indonesia Stock Exchange (IDX), and employs multiple linear regression analysis to assess the relationships among these variables. The research adopts a descriptive quantitative approach to systematically describe and interpret the data. The findings reveal that inflation has a

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Darie, Flavius Cosmin, and Alexandra Dorina Miron. "Bitcoin, Gold and Crude Oil versus the US Dollar – A GARCH Volatility Analysis." Proceedings of the International Conference on Business Excellence 17, no. 1 (2023): 254–65. http://dx.doi.org/10.2478/picbe-2023-0027.

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Abstract The aim of this study is to compare and contrast the volatility of different asset classes namely Bitcoin, gold and crude oil against the US dollar, using the symmetric GARCH (1,1) model. Furthermore, this study examines which of the three assets provide the lowest volatility and identifies if the univariate GARCH (1,1) model can suitably forecast the volatility of the foreign exchange market, commodity market and cryptocurrency market. More specifically, this study uses only estimates from a symmetric GARCH model for the XAU/USD, WTI/USD and BTC/USD financial assets. Although the lit

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Ali, Hameed Hindi Al-Ali Mortada Salim Kadhim Al-Asady. "The Impact Of The Currency Auction On The Direct Cash Credit Granted By Banks (An Applied Study Of A Sample Of Commercial Banks In Iraq For The Period 2014-2019)." Multicultural Education 7, no. 3 (2021): 163. https://doi.org/10.5281/zenodo.4618897.

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<em>The main purpose of the study is to shed light on an important financial policy adopted by the Central Bank of Iraq some years ago, which is the policy of selling foreign currency (the dollar) or as it is called (currency auction) and indicating the size of its impact on the dependent variable, which is the direct cash credit granted by banks, the study sample, The study was conducted for a sample consisting of (16) banks dealing in currency auctions for the period (2014-2019), as the study relied on the annual data of the banks, the study sample, and the annual purchases of dollars were c

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Chuvakhina, Larisa G. "THE POLICY OF DIVERSIFYING THE STRUCTURE OF RUSSIA'S GOLD AND FOREIGN EXCHANGE RESERVES." Today and Tomorrow of Russian Economy, no. 113-114 (2023): 5–12. http://dx.doi.org/10.26653/1993-4947-2023-113-114-01.

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The article is devoted to the issues of diversification of the structure of Russia's gold and foreign exchange reserves. Like most foreign countries, Russia pursues the policy of increasing international reserves in order to strengthen national positions in the global financial market and ensure the protection of the national economy from external shocks. The main sources of formation of international reserves, factors influencing their dynamics are analyzed. It is noted that the dominant position in the structure of Russia's international reserves is occupied by assets in foreign currency, wh

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Jamil, Muhammad Naveed. "Impact the choice of Exchange Rate Regime on country Economic Growth: Which anchor currency leading the 21st Century." Journal of Environmental Science and Economics 1, no. 1 (2022): 18–27. http://dx.doi.org/10.56556/jescae.v1i1.8.

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This study provides a comprehensive currencies history of the exchange rate arrangement of 195 countries; exchange rate regime impacts on countries' growth and macroeconomic stability period of 1961 to 2020. New measurements of foreign exchange regimes and under controlling the income level of high, upper-middle, middle, and lower-middle economies; This Study adopt Generalized Method of Movements (GMM) to investigate the impact of exchange rate regimes on the economies and macro-economic stability through Per Capita GDP, GDP growth, Inflation and Foreign Trade. The U.S. Dollar dominated the cu

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Twarowska, Katarzyna. "THE IMPACT OF THE RENMINBI INTERNATIONALIZATION ON THE GLOBAL MONETARY ORDER." SWS Journal of SOCIAL SCIENCES AND ART 1, no. 2 (2019): 13–30. http://dx.doi.org/10.35603/ssa2019/issue2.02.

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Background and the purpose: The Chinese economy is the fastest growing and changing economy in the modern world. The importance of the renminbi as an international currency is not relevant to China's economic potential and role in the global economy, however, many scientific studies indicate that the position of that currency in the functions of international money will become stronger in the future. This encouraged the author to assess the consequences of the renminbi internationalisation, in particular the impact on the stability of the international monetary system. An additional aim of the

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Sokolov, B. I., and X. Jiang. "Market-Oriented Reform of the Yuan Exchange Rate: Organizational and Analytical Aspects." Journal of Applied Economic Research 22, no. 1 (2023): 44–71. http://dx.doi.org/10.15826/vestnik.2023.22.1.003.

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The article traces the evolution of the market-oriented reform of the exchange rate of the yuan, the national currency of the People's Republic of China. The purpose of the study is to reveal the consistently implemented reform aimed at domestic economic growth on the internationalization of the yuan exchange rate. A hypothesis was formulated according to which, in the conditions of an export-oriented economy, the internationalization of the exchange rate of the national currency without opening financial accounts of the balance of payments is able to remove the limits of economic growth, and

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Sarkar, Sukanta. "CURRENT STATUS OF NON-PERFORMING ASSETS OF BANKING SECTOR OF INDIA WITH SPECIAL REFERENCES TO CAUSES AND GOVERNMENT INITIATIVES." International Journal of Management, Public Policy and Research 4, no. 1 (2025): 8–19. https://doi.org/10.55829/ijmpr.v4i1.261.

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The objective of the study is to examine the current status of non-performing assets of banking sector of India. It has found that non-performing assets is a bigger challenge of our banking sector. Such asset is the burden in any financial institution. It exists in more or less in any type of banking institution. Gross and net non-performing assets of scheduled commercial banks are declining since 2018-19. In scheduled commercial banks, public sector banks have the higher non-performing assets then the private bank, regional rural banks and foreign banks. Rural Co-operative Banks has higher no

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Lefatsa, Palesa Milliscent, Simiso Msomi, Hilary Tinotenda Muguto, Lorraine Muguto, and Paul-Francios Muzindutsi. "An Empirical Analysis of the Impact of Global Risk Sentiment, Gold Prices, and Interest Rate Differentials on Exchange Rate Dynamics in South Africa." International Journal of Financial Studies 13, no. 3 (2025): 120. https://doi.org/10.3390/ijfs13030120.

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Exchange rate volatility poses significant challenges for emerging markets, influencing trade balances, inflation, and capital flows. South Africa’s Rand is particularly vulnerable to global risk sentiment, gold price fluctuations, and interest rate differentials, yet prior studies often analyse these factors in isolation. This study integrates them within an autoregressive distributed lag framework, using monthly data from 2005 to 2023 to capture both short-term fluctuations and long-term equilibrium effects. The findings confirm that higher global risk sentiment triggers immediate Rand depre

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Noije, Paulo van, Marina Zucker-Marques, and Marina Zucker-Marques. "China: capital flight or renminbi internationalization?" Review of Keynesian Economics 9, no. 4 (2021): 552–74. http://dx.doi.org/10.4337/roke.2021.04.06.

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During 2014–2016, many analysts have claimed the occurrence of a capital flight in China due to the reduction of the country's foreign reserves by over US$800 billion. This paper aims therefore to answer the question: did China really undergo a capital flight in this period? Its methodology includes a detailed analysis of the Chinese external stocks and flows between 2014 and 2016, and an examination of the currency hierarchy and the international usage of the renminbi (RMB). The authors conclude: the fall in the foreign reserves that occurred in China in 2015–2016 was partially due to (i) a s

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Prates, Daniela, Barbara Fritz, and Luiz Fernando de Paula. "Invited ArticleFrontier-market economies as a new group of the financial periphery: patterns and transmission channels of global shocks." European Journal of Economics and Economic Policies: Intervention 20, no. 2 (2023): 282–98. http://dx.doi.org/10.4337/ejeep.2023.0106.

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This paper seeks to fill a gap in the literature on frontier market economies (FMEs) with the following two research questions: (i) Which are the drivers of FMEs’ integration into financial globalisation? (ii) What explains the greater vulnerability of FMEs compared to emerging market economies (EMEs) to global financial shocks? We argue that the emergence of FMEs as a new group of the financial periphery fills a vacuum left for global investors by the major EMEs, whose spreads declined in the past decade due to high foreign currency reserve accumulation and other EME-related factors. To answe

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Lizardo, Radhames A., and Mary H. Kelly. "What Motivates China to Invest So Heavily in U.S. Treasury Securities?" Global Economy Journal 14, no. 2 (2014): 215–34. http://dx.doi.org/10.1515/gej-2013-0053.

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This paper attempts to shed light on the question: What motivates China to invest so heavily in U.S. Treasury securities, despite the fact that U.S. Treasuries provide real rates of return that are either close to zero or negative? Such an investment strategy can be perceived as economically irrational. A linkage can be presumed between China’s investment practices and the tactical decision to moderate the United States’ influence on economic, political, and military issues. We hypothesize, however, that China does not have a better investment option because holding an ever-increasing amount o

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Ullah, Mirzat, Kazi Sohag, Farrukh Nawaz, et al. "Impact of Oil Price Shocks on Crypto and Conventional Financial Assets during Financial Crises: Evidence from the Russian Financial Market." International Journal of Energy Economics and Policy 14, no. 4 (2024): 472–83. http://dx.doi.org/10.32479/ijeep.16374.

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This study offers a multidimensional solution to mitigate the risk raised due to oil price volatility for navigating investments within the Russian financial landscape. This study assesses spillover effects between crypto assets and traditional financial assets encompassing equities, bonds, precious metals, foreign currency reserves, and crude oil prices. It adopts a significant temporal perspective to assess the potential ramifications of various financial crises, including global health crises and regional conflicts, on oil prices. Utilizing a daily frequency dataset spanning from January 1,

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Proskunov, Sergei S., Vladimir V. Volkov, Igor A. Kokorev, Vladimir V. Velikorossov, and Xin Cheng. "CROSS-BORDER INTERBANK PAYMENT SYSTEM (CUPS) AND ITS ROLE IN THE PROCESS OF INTERNATIONALIZATION OF THE NATIONAL CURRENCY SYSTEM OF THE YUAN." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 10/2, no. 130 (2022): 116–25. http://dx.doi.org/10.36871/ek.up.p.r.2022.10.02.009.

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Since the beginning of the global financial crisis of 2008-2009, which highlighted the weakness of the international monetary system due to its complete dependence on the US dollar as the main world currency, the leadership of the People’s Republic of China, like many other states, felt its dependence and, taking advantage of the situation, used the full potential of opportunities and efforts to raise the status of the yuan to the level of the international reserve currency currencies and put an end to the dominance of the dollar. The PRC’s efforts were aimed at promoting the yuan in internati

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