Gold As A Foreign Exchange Reserve Of Central Banks
Gold As A Foreign Exchange Reserve Of Central Banks

Summary/Abstract: Gold, as a precious material, has always attracted attention and had one of the very important roles in trade flows. Once, while there was no money in today's paper form, gold has served as the primary means of payment. The role of gold is different today, though still significant, especially in critical conditions that are characteristic of today's global economy. This paper will make the parallels between the behavior of the BRIC33countries, and their aspirations for growth in share of gold reserves in the current circumstances, and the countries of Western Europe, on the same basis, in the period after World War II, before the moment of the introduction of convertibility of their currencies. In addition, it will indicate the transfer of gold between countries, its “movement“ through the recent history and present state and position of the gold reserves.

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