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The article deals with the concept of gold and foreign exchange reserves and the role they play in the present-day economy. Recently the stock of foreign exchange reserves accumulated across the world has grown substantially. In many cases it was connected with the functions they play in the current monetary policy. Possibilities to use such reserves to counter balance of payments shocks or for achieving export-oriented growth make them an important macroeconomic stability tool.
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Sergey Narkevich (2015) studied this question.
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