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This article is impossible to understand. What is the purpose of foreign-exchange reserves? What's the point? Nowhere is this expressed, even in a section entitled "purpose" (which devolves within the very first paragraph into a discussion of the impossibility of... honestly I have no clue what). — Preceding unsigned comment added by 181.177.166.253 ( talk) 17:59, 17 October 2016 (UTC)
ZBIGNIEW MAZURAK: What I want to know if the Germans have their own FC reserves or they have ceded their FC reserves to the ECB (as they are required to do so).
Sdnegel dont include euro system in the list..european central bank data is ok but still..the problem is you dont know the the difference between foreign currency reserves and foreign exchange reserves...foreign exchange reserves include foreign currency reserves,SDR's and gold reserves also..and other currency assests must not be included...in that case Eurosystem foreign exchange reserves stands out as $451 billion...European central bank foreign exchange reserves stands out as $57 billion. European Central bank reserves cannot be included in the list since it is just $57 billion.
The Eurosystem comprises the ECB and the NCBs of those countries that have adopted the euro. The Eurosystem and the ESCB will co-exist as long as there are EU Member States outside the euro area. so the Eurosystem reserves cannot be included in the reserves. praddy06
The Eurosystem, which comprises the European Central Bank and the national central banks of the Member States whose currency is the euro, is the monetary authority of the euro area. We in the Eurosystem have as our primary objective the maintenance of price stability for the common good. Acting also as a leading financial authority, we aim to safeguard financial stability and promote European financial integration. [...]. This is official information you can easily find in the webpage of any of the Eurosystem banks. Anyway, there's no need to look for information, it just doesn't make any sense to have a single currency without a centralized authority Sdnegel 21:17 UTC, 29th march 2007
INSERTION BY ZBIGNIEW MAZURAK: So please answer these two questions:
1) Does Germany have its own independent separate FC reserves? 2) Does the Eurozone figure include the German reserve?
If the answer to the first question is no and the answer to the second question is yes then Germany shouldn't be mentioned.
Read this please: [ Statute of the ESCB and the ECB]. Just substitute ESCB for Eurosystem. The reason for the different names is that in principle all the EU member states should have joined the Euro, but some didn't, so the ESCB (which is composed of all the EU national banks independently on whether they've joined the euro or not) cannot be used to control the Eurozone, instead another institution, the Eurosystem, which is exactly equal to the ESCB but excluding those national banks which have not joined the Euro, has taken the authority. Read article 3. Sdnegel 20:40 UTC, 8th April 2007
This is taken from the ECB webpage: Basic tasks (of the ESCB) According to the Treaty establishing the European Community (Article 105.2), the basic tasks are
* the definition and implementation of monetary policy for the euro area; * the conduct of foreign exchange operations; * the holding and management of the official foreign reserves of the euro area countries (portfolio management). * the promotion of the smooth operation of payment systems.
[ ECB] Sdnegel 20:48 UTC, 8th April 2007
Just in case it still was not clear ;) just found this article from today at The Economist. Who's in sixth place? Germany? nooo :P [1] April 10 2007, 15:44 UTC Sdnegel
I just added the Euroarea's reserves in the global system. As stated by other editors there is no point in ranking Germany or France and not the Eurosystem as given that they are in a single monetary union with pooled resources the reserves are also common to the single monetary system. I changed the name of "20 largest countries" to largest systems too, naming is the least relevant issue.
Who keeps editing the article to take out the eurosystem? Could he/she please state his or her reasons to do so? Is it the naming problem?
This is the categorisation employed by the IMF in its calculations of overall Foreign reserve positions. It would be helpful if we could offer a definition of what that meant here. Eusebeus 11:22, 1 December 2006 (UTC)
How do these government currency reserves increase/decrease?-- Jerryseinfeld 22:48, 12 Feb 2005 (UTC)
I figured out the answer myself and posted it here, but some bone head moron removed it, see link here. I'm obviously the only one that understand this issue. The primary reason for large reserves in East asian countries today is not to support their currency if foreignerns suddenly wants to sell yuan or tawianese dollars because of a sudden loss of confidence in assets denominated in chinese yuan or taiwanese dollars. Reserves build up as a side effect of the policy to support exports through a devalued and artificially low exchange rate. The side effect is only more expensive imports. What a bunch of moronic losers that write on this site, I hope they close this embarrasing retardation station soon.
Where is the data for July coming from ? In the normal course of events, July data will only be available in August. Except for China and Singapore. When it would only be available in September. Could you provide a link for verification ?
218.208.243.148 04:40, 9 July 2006 (UTC)
Not that I don't appreciate your work, but can you link the data with where you found the number for these countries? I can't read Chinese and Russian at the central banks' page.
First of all please sign. 2nd - both pages are available in English. Russia as of 7th yuly - [2], ROC as of 30 june-2 july - [3]. Elk Salmon 16:38, 17 July 2006 (UTC)
There is a comment regarding "regular" consultation at the East Asia Summit in view of establishing an Asian Currency Unit. I have not deleted this but there is no source. I do question it. There has only been two meetings of the EAS one in 2005 and in 2007, at neither of these was the ACU discussed. The ACU is a concept being developed by the Asian Development Bank and is based on the ASEAN Plus Three members not the EAS members (so no India). The current version of the table also includes Germany (who has nothing to do with EAS), Hong Kong SAR (not part of EAS although China is), Taiwan (not part of the EAS) and Russa (not part but an observer in 2005). If the statement cannot be jsutified it should be removed but as it has been in the article so long I have questioned it. -- 202.4.78.29 03:12, 25 January 2007 (UTC)
That statement remains unsupported and seems to be incorrect. I have deleted it. If it can be shown to be correct it should be returned. -- 202.4.78.29 07:50, 2 February 2007 (UTC)
You say manipulation, I say stabilisation...potehto or potahto ?
"But often, the size of reserves is passively caused by the currency policy of the central bank."
Really ? Or because Republican policy really pushed up the price of oil ? So the oil exporting nations like Russia are rapidly accumulating reserves ?
Also, its pointless for the US Treasury to blame every holder of Notes for their need to borrow 3 billion per working day. Isn't it the responsibility of the US govt to stabilise/manipulate their own currency ? Perhaps USA should also accumulate reserves, to prevent its currency from rising. Or is it out of control already ?
218.111.153.93 12:03, 9 January 2007 (UTC)
Well, may be it's not owned by monetary authority. It's owned by Ministry of Finances. But it is reserves and quite big reserves ($113bln as of begin of may). Why not to add as well? May be as a separate entry with no ranking...? Praddy? Elk Salmon 11:18, 3 May 2007 (UTC)
---
The Stabfund is included in the reserves. BTW, Norway's Petroleum Fund is around $300bln should it be included?
Here's the link.
http://en.wikipedia.org/wiki/Stabilization_Fund_of_the_Russian_Federation
http://en.wikipedia.org/wiki/The_Petroleum_Fund_of_Norway
18 May 2007
can someone or anyone please explain how foreign reserves accumulate (the processes involved) in the article. its been very ambigious like how does it accumulate if the currency is appreciating and doing well in exports. Does it collect fees every time a foreign currency transaction takes place, or it issues bonds, -- Visik 05:58, 9 August 2007 (UTC)
I removed some text that'd apparently been copied from [5]. I hate to do that, but, you know... S. Ugarte 17:22, 24 August 2007 (UTC)
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How can i spend my petrodollars? Neomaellenr ( talk) 03:10, 6 July 2017 (UTC)
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Foreign exchange cumulative and its impact 2400:1A00:B1C0:6A14:D55B:C466:A610:E00D ( talk) 11:52, 30 April 2022 (UTC)