political and financial situation of the country on the global stage plays an important role international reserves.Russia in this sense is held steady in the top ten, despite the direct dependence of the volume of reserves of oil prices.
Determination of gold and gold reserves
, or as they are called, international reserves (GCR) - this state assets, which have a high degree of liquidity and are controlled by the main monetary institutions.As a rule, such a body is the Central Bank.Standard gold reserves are estimated in monetary gold and foreign currency, which is called a backup.At present, only two such currencies - the US dollar and the euro.In addition, part of the gold reserves include Special Drawing Rights, or SDR (Special Drawing Rights), issued by the International Monetary Fund and the reserve position in the IMF.
International reserves of the Russian Federation to include all components.
Structuring reserves
Today, financial institutions where a great variety of different and broader understanding than it was before.Therefore, the components of financial state reserves are more meaningful elements.Funds in foreign currency are not only cash in the world's reserve currency unit.They also include deposits, including gold loans under reverse repurchase agreements, decorated in the Central Bank, the Bank for International Settlements, as well as in the commercial banks with high credit ratings by the standards of international rating agencies S & amp; P, Moody's and Fitch Ratings.
to this type belong to the reserves and debt securities which are issued by foreign companies.Ranking of the securities to be issued as high by the standards of international rating agencies S & amp; P, Moody's and Fitch Ratings.The structure of the gold reserves also includes securities transferred as loans.
International accumulation of foreign reserves are translated into US dollars according to the official exchange rate.
the International Monetary Fund as part of the gold reserves
By artificial reserve and payment tools include Special Drawing Rights, or Special Drawing Rights.This tool is issued by the International Monetary Fund (IMF), it has no cash, that is, represents only record in the bank accounts.Attention within the Fund and used to align the balance of payments deficit and cover credit obligations.SDRs are not the characteristics of any debt or currency.
This tool came in 1969 with the aim to neutralize the Triffin dilemma, reflected the contradictions of the Bretton Woods system of the organization of monetary relations and transactions between countries.Controversy arose in the collision of the national nature reserve currency and its international performance.
IMF reserve position includes backup and share credit.Exceeding the quota volume of the money supply over the amount that is in the Fund to the State party, called the Reserve shares.Accordingly, the share of credit allows you to purchase IMF funds in excess of reserve tranche.
traditional gold
structure of international reserves of the Russian Federation, of course, contains reserves of monetary gold, that is physically exists.Initially, gold reserves were formed for the national currencies.Since 1937, the Russian ruble was pegged to the dollar.However, after the war in the Soviet Union began to rapidly gain momentum gold industry, every year the gold reserves in the treasury increased by 100 tonnes.In 1950, Stalin decided to unlink the ruble to the dollar, and set the gold content of the national currency of the Soviet Union.Two years later, Stalin advanced the idea of creating an alternative dollar market.But the idea did not have time to implement.After Stalin's death, Nikita Khrushchev chose the pro-Western path of development.Ensuring gold rubles Soviet leader he considered untimely and returned the binding of the Russian currency to the US dollar.
The US dollar was backed by gold until 1971, when President Richard Nixon officially announced the cancellation of the gold backing of the dollar.By the time the state gold reserves of the country fell to a record 9.83 ths. Tons from 21.8 thousand. Tonnes in 1949.Just then there was the international currency market with floating exchange rates.The market is characterized by free market conditions.Although formally the dollar and the pound sterling lost their status as reserve currency, the US dollar is not just preserved, but in every way strengthen its position.
The last time US gold reserves were subjected to a thorough audit in 1953.The stock is stored in four storage.In addition to the treasury stock of the United States, the country of precious metal reserves are stored at least 60 states.The number of native and foreign reserves kept secret, giving rise to this effect a lot of rumors.
Red Gold Russian
According to open sources, Russia's international reserves for today contain 1238 tons of gold.For this indicator, the Russian Federation officially ranked sixth in the world.The share of gold in total gold reserves is 12%.It is worth noting that before the First World War, the Russian Empire had one of the world's largest volume of gold - 1.4 thous. Tons.World and civil wars ravaged the treasury considerably - by 1928 there were only 150 tonnes.In the Stalinist period coffers again "swollen" and containing 2,5 thous. Tons by 1953.But then the gold reserves only reduces, rather large, its volume sold abroad, Nikita Khrushchev.In 1991, representatives of the country stated that the Soviet legacy descendants remained only 290 tons of the precious metal.
Russian gold reserves are divided into two disproportionately.The best part, which manages the Central Bank in consultation with the Russian government, is stored directly in the Bank of Russia.The second part is the State Fund of Precious Metals and Precious Stones of the Russian Federation, decisions on spending and the completion of this part of the reserve is adopted directly by the President and the government.
Dynamics gold reserves
yellow precious metal reserves are included in the international reserves of the Russian Federation, the experts at the beginning of 2014 has been evaluated in 40 billion dollars.While during the 2013 Central Bank Gold actively acquired in the Russian market, however according to estimates of analysts, cost volume of the precious metal fell by 11 billion dollars.This led to the fact that at the end of 2013 the level of gold fell to 7.8%, included in the total volume of international reserves of the Russian Federation.The share of foreign currency component in the basket at the beginning of last year was reduced to 92.2%.
Analysts say that since the beginning of this year, the central bank continued to increase gold reserves of gold reserves, increasing its volume threefold.Since such behavior is unusual in the gold market, foreign experts suggest that it is distrust of the US dollar is pushing the Central Bank of the Russian Federation for the purchase.
Oil - the basis of Russian gold reserves
national growth "Potbelly" started at zero years of the 21st century.International reserves of the Russian Federation grew by leaps and bounds due to high prices for hydrocarbons up to the crisis of 2008.By the time they reached $ 600 billion.To maintain stability in the country since the beginning of the crisis has been created by the National Welfare Fund.Russia's international reserves have become a financial contributor to the new structure.This prevented a serious crisis, but the volume of gold reserves declined.Only by mid-2013 failed to restore them - up to 533 billion rubles.
the spring of last year, the situation began to change dramatically.Boycott of Western Europe and the US due to merger last spring Crimea to Russia, in addition, the sharp fall in oil prices, devaluation of national currency, support the ruble, sanctions and kontrsanktsii - all this has become a serious challenge for the Russian economy and could notdoes not affect the state of the gold reserves.By the middle of the year their volume has decreased by one third - to 382 billion US dollars, of which 12 billion came from the payment of the IMF.The fall continued during the year and at the beginning of this year, international reserves of the Russian Federation have reached a minimum in 2007 - 374.7 billion dollars.At the beginning of May, their volume was 358.5, billion.
