BIZCHINA / Finance/Investment |
Foreign exchange reserves(Wikipedia)Updated: 2007-07-06 20:02 Foreign exchange reserves (also called Forex reserves or International reserves) are the foreign currency deposits, gold, SDRs and IMF reserve position held by central banks and monetary authorities. These are assets of the central banks which are held in different reserve currencies such as the dollar, euro and yen, and which are used to back its liabilities, e.g. the local currency issued, and the various bank reserves deposited with the central bank, by the government or financial institutions. (For more biz stories, please visit Industry Updates) |
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