World forex reserves of india

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That’s about 181,881 ordinary tons or 363,762,732 pounds, or 5,820,203,717 ordinary ounces. More than half of all humanity’s gold has been extracted in the past 50 years. Now the world’s richest deposits are fast being depleted, and new discoveries are rare. Gone are the hundred-mile-long gold reefs in South Africa or cherry-size nuggets in California. Most of the gold left to mine exists as traces buried in remote and fragile corners of the globe. But there is no shortage of miners, big and small, who are willing to accept. How much gold gets mined per year worldwide?

The table below shows world gold production from 1900 thru 2011. Production in 1900 was around 400 metric tons per year and has consistently moved up over the years. It is currently around 2,500 metric tons per year. The all time high was reached in 2001, with 2,600 metric tons of gold production worldwide. The total gold mined from 1900 to the present is just under 141,000 metric tons. But didn’t the Spanish get lots and lots of gold from the New World, especially from the Aztecs and Incas? In fact, the Spanish got much more silver than gold from the New World.

In the 16th century, when production was in full swing, the Spanish only got 154 metric tons of gold, whereas they got 7440 metric tons of silver. Gold production in the new world for the entire the 16thcentury was thus less than half of what it was worldwide in 1900. An Olympic swimming pool is 50 by 25 by 2 meters. It therefore contains 2,500 cubic meters of water. Each cubic meter of water is one metric ton.

3 times as dense as water. Therefore an Olympic swimming pool would contain 48,250 metric tons of gold. Given 165,000 metric tons as an upper bound on available gold, how much does that leave to each human on the planet? Humanity has just hit the 7 billion mark.

That leaves just under 24 grams of gold to each person on planet earth, or . In an ordinary male gold wedding band at 18-karat purity, there are about 5 grams of pure gold. That means every person on planet earth could own about 5 gold rings. Page not found The requested page could not be found. The list below is mostly based on the latest available IMF data, and while most nations report in U. Eastern Europe report solely in Euros.

And since all the figures below are in U. Hong Kong and Macau report separate figures. Indian reports are released on a weekly basis with the figures being of the previous week. The Iranian government does not report the foreign exchange reserves as a matter of policy and all figures are estimates calculated by international or foreign institutes, which are occasionally endorsed by Iranian officials without disclosing the exact numbers. IMF releases the quarterly data on the currency composition of official foreign exchange reserves. The data are reported to the IMF on a voluntary and confidential basis. Hong Kong Monetary Authority – Economic and Financial Data for Hong Kong”.

Press Releases – Official Foreign Reserves”. IMF – Italy Archived 14 May 2016 at the Wayback Machine. The World Factbook: Reserves of foreign exchange and gold”. Time Series Data on International Reserves and Foreign Currency Liquidity. This section needs additional citations for verification.

In a strict sense, foreign-exchange reserves should only include foreign banknotes, foreign bank deposits, foreign treasury bills, and short and long-term foreign government securities. Foreign-exchange reserves are called reserve assets in the balance of payments and are located in the capital account. Theoretically, in this case reserves are not necessary. Non-sterilization will cause an expansion or contraction in the amount of domestic currency in circulation, and hence directly affect inflation and monetary policy. For example, to maintain the same exchange rate if there is increased demand, the central bank can issue more of the domestic currency and purchase foreign currency, which will increase the sum of foreign reserves. Thus, intervention does not mean that they are defending a specific exchange rate level.

After the end of the Bretton Woods system in the early 1970s, many countries adopted flexible exchange rates. However, the opposite happened and foreign reserves present a strong upward trend. Ratios relating reserves to other external sector variables are popular among credit risk agencies and international organizations to assess the external vulnerability of a country. Reserves are used as savings for potential times of crises, especially balance of payments crises. Original fears were related to the current account, but this gradually changed to also include financial account needs. Furthermore, the creation of the IMF was viewed as a response to the need of countries to accumulate reserves.

Most countries engage in international trade, so to ensure no interruption, reserves are important. A rule usually followed by central banks is to hold the equivalency of at least three months of imports in foreign currency. The opening of a financial account of the balance of payments has been important during the last decade. Hence, financial flows such as direct investment and portfolio investment became more important. Reserve accumulation can be an instrument to interfere with the exchange rate.