THE LEVEL, MOTIVES AND FUNCTIONS OF FOREIGN RESERVES OF THE DEVELOPED COUNTRIES. ANALYSIS WITH A PARTICULAR FOCUS ON THE EUROPEAN SYSTEM OF CENTRAL BANKS

The level, motives and functions of foreign reserves of the developed countries. Analysis with a particular focus on the European System of Central Banks

The article concentrates on analysis of motives, level and Grab Handles functions fulfilled by foreign exchange reserves in developed countries, with special emphasis put on the dual system of reserves within Economic and Monetary Union (EMU).The foreign exchange reserves of industrial countries have grown up during the last decade.However, in the

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