IX Международная студенческая научная конференция Студенческий научный форум - 2017

The article deals with the concept of international reserves and their role in modern economy. The stability of the state and its financial sustainability is largely determined not only by the amount of reserves, but also their optimal structure and management efficiency. In recent years, the amount accumulated in the global economy, foreign exchange reserves has increased substantially. In the article, the analysis and dynamics of gold and exchange (international) reserves of Russia is carried out.Foreign exchange reserves are highly liquid financial assets under the control of state bodies of monetary regulation.These funds are used for international macroeconomic estimates of countries to repay foreign debt obligations, the regulation of market exchange rates of national currency units.

There are several requirements that can be presented to the foreign exchange reserves. For example, they should be universally applied in all sectors and industries. Any investment of funds reserve provides for their return, and therefore the formation and maintenance of foreign exchange reserves requires fixed costs. Reserves do not provide any revenue. However, a large amount of foreign exchange reserves allows states to grant loans to other countries at interest.

Foreign exchange reserves are held as a support to perform a number of tasks, including the following: support of national currency, the preservation of confidence in the implementation of public policies, management of monetary aggregates; reduction of external vulnerability by maintaining liquid assets in foreign currency to be able to avoid the shock during the crisis in the country; ranking of the country as a confident and secure state; support of the national currency backed by foreign assets; execution of external debt in service obligations and assisting the government to meet its needs in foreign currency; provide support in case of a national disaster.

Thus, the size of foreign exchange reserves is one of the most important macroeconomic indicators of economic development and sustainable growth - an indicator of the stability of not only economy but other spheres of the state, including the state system. In recent years, Russia has a stable process of increase of level of reserves. The volume and structure, methods and tools for the allocation of international reserves should be aimed at achieving the legislative objectives established by Central Bank to protect and ensure the stability of ruble, the development and strengthening of the Russian banking system, ensuring effective and smooth functioning of the payment system.

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