BUSINESS INFORM №3-2016

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Section: Finance, Money Circulation and Credit
UDC 336.711:339.721
Shatkovska-Shmorgay V. B.
Approaches to Determining the Sufficiency of the Gold and Currency Reserves of the State (p. 193 - 198)
The article is aimed at substantiation of approaches to determining the sufficiency of the gold and currency reserves of the State, taking into account the existing regime of floating exchange rate in Ukraine. A comparative analysis of the known approaches to determining the sufficiency of the gold and currency reserves of the State has been done (criteria by V. Reddy, Guidotti-Greenspan, Wijnholds-Kapteyn, traditional and new approaches of the IMF). The article has determined the satisfactory efficiency in the management of gold and currency reserves of Ukraine according to the criterion of the coverage of sufficiency with the gold and currency reserves of the State in terms of import of goods and services at the end of the third quarter of 2015. It has been calculated that, in order to cover all sources of risk, the National Bank of Ukraine should build a volume of the Ukrainian gold and currency reserves at a level of 16.5 billion US-dollars. Prospect of further research in this direction is to carry out a comparative analysis of the sufficiency of the volume of gold and currency reserves in the world countries that are different in the modes of functioning of exchange rate, with a view to indicate the probability of currency crises.
Keywords: exchange rate, monetary stock, debt, sufficiency, foreign investments, gold and currency reserves, crisis, criterion
Fig.: 6. Bibl.: 15.

Shatkovska-Shmorgay Victoriia B. – Candidate of Sciences (Economics), Associate Professor, Department of Banking, Lviv Educational-Scientific Institute of the University of Banking (61 Viacheslava Chornovola Str., Lvіv, 79019, Ukraine)
Email: [email protected]

Article is written in Ukrainian
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Reference to this article:
Shatkovska-Shmorgay, Victoriia B. (2016) “Approaches to Determining the Sufficiency of the Gold and Currency Reserves of the State.” Business Inform 3:193–198.

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