International reserves, also known as "international reserve assets". Refers to a country's official monetary assets that can be used for international payments and can maintain its own currency exchange rate.
It is mainly composed of the following parts: officially held gold; Officially held freely convertible currency; Reserve assets and special drawing rights of the international monetary fund.
After World War II, major western currencies such as the US dollar and the British pound became freely convertible currencies.
At present, the dollar is still the most widely used in the balance of payments.
Because the exchange rates of national currencies in the international financial market may fluctuate, the freely convertible part of international reserves is easily affected.
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