With the continuous development of international trade, Britain, as the strongest economic and trading power in the early stage of capitalism, is at the center of international trade and finance, and sterling has also become the means of international circulation and payment.
Therefore, the main form of international reserves developed from gold to gold – sterling reserve system.
2. After the end of the Second World War, the gold reserve system suffered serious damage, the balance of payments was deteriorating day by day, and the international status of the British pound was declining, which was more important than the British pound.
The main form of international reserves developed into the dollar – gold reserve system.
3. Dollar Reserve System The Bretton Woods Conference established a dollar-centric system.
In this system, the dollar is pegged to gold, countries are pegged to the dollar, and the dollar becomes the main asset of each country’s international reserves.
4. Multi-currency reserve system In order to avoid asset losses caused by turbulence, some countries began to adjust the currency composition of their reserves, and the international reserve system began to develop from a single dollar to multi-currency reserves.
In the increasingly diversified stage of international reserves, the management of reserve assets becomes extremely important.
The main method is to control the amount of gold reserves, the scale of foreign exchange reserves, the composition and proportion of currency types, and the use and arrangement of funds for reserve assets.
