Optimal Practice of Creation and Management of Gold Reserves[Оптимальная Практика Создания И Управления Золотовалютными Резервами]

This work is devoted to the search for the optimal value of the international reserves of the country. In developed countries with floating exchange rate, the level of reserves in relation to GDP is usually negligible. In developing countries, the level of reserves relative to GDP are generally higher, even if the country adheres to a floating exchange rate. Russia is among the top ten countries with the largest reserves of international reserves, and in relative terms, the volume of reserves is also essential. However, it is unclear how the current volume of reserves is adequate. To answer this question in the current work analyzes the main features of international reserves, as the desired amount of international reserves depends on what functions they have to perform in the country. Then in the paper discusses existing approaches to the assessment of the adequacy of international reserves. In the final part of the review of the metric used to assess the adequacy of the level of international reserves of the Russian Federation.