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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Reserve currencies to the dollar as a store of value and as secondary reserves in central banks

    Rocky
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    • Post n°1

    Reserve currencies to the dollar as a store of value and as secondary reserves in central banks Empty Reserve currencies to the dollar as a store of value and as secondary reserves in central banks

    Post by Rocky Sun 02 Apr 2023, 8:04 am

    Reserve currencies to the dollar as a store of value and as secondary reserves in central banks

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    Aqil Jabr Ali
    It is very important to keep abreast of changes and developments in the global economy and economic applications and practices, especially the trend towards economic pluralism and the transition from the dollar to reserve currencies for bilateral or intra-exchange between countries with whom we have a large volume of trade exchange in light of the sustainability of the rentier oil exports in US dollars and the possibility of benefiting from the experience of Brazil and China And Saudi Arabia, Egypt, the BRICS group and some African and Arab countries regarding dealing in currencies in local or reserve currencies instead of the US dollar and the gains of systematic transformation in the system of financial payments to economic diversification and the importance of that specifically for Iraq at the level of economic diversification and the systematic and transitional shift in the financial payments system in a tangible way from the rentier economy to the rentier economy The Iraqi national economy diversification model. 
    Undoubtedly, there is a debate about the role of reserve currencies, the yuan, the euro, the ruble, and others, for dealing in non-dollar currencies or inter-state dealings with currencies that cross the dollar, and it has been going on for a long time. The concept of reserve currency is linked to the role that the pound sterling played in the global economy from the end of the nineteenth century to the mid-twentieth century. The main function of the reserve currency is to facilitate the international exchange of goods and services by solving the problem of coordinating transactions in the foreign exchange market and reducing transaction costs in foreign trade operations. In addition, reserve currencies are used as a store of value and are held as reserves by the central banks of most countries in the world.  
    Performing this function led to the emergence of the term "reserve or secondary currency".
     The demand for reserve currencies is made by economic or financial agents operating in all areas of the global economy.  
    In a way that depends on the functions that reserve currencies perform in international transactions. The amount of demand and therefore the degree/volume of use of the reserve currency is determined by how well each of the main functions is performed. As a result, the effect of this begins to work, when the use of the reserve currency by a large number of economic agents becomes a factor that increases the demand for the reserve currency.
    There are factors and methodological foundations for the formation of reserve currencies, including the Chinese yuan, the Russian ruble, the Iranian riyal, and others, which necessitate the development of the foundations of the currency system and the methodological and objective foundations for that, and making recommendations regarding its more balanced regulation, and identifying factors that can improve the status of the Chinese yuan, the Russian ruble, the European euro and others as a reserve currency Regional. And the importance of dealing with a balance between Iraq's oil exports in US dollars now with gas in the future and balances with the trade balance and the volume of trade and economic exchanges with other countries.
    Thus, the main tasks of the work are:
     • Finding a specific definition of the concept of reserve currency, as well as the main functions that reserve currencies perform.
     • Reviewing the main theoretical models of demand for reserve currencies.
     • Analyzing the results of empirical studies of demand factors for reserve currencies.
     • It is very important to get acquainted with the concept of the regional reserve currency and to identify the factors that affect the formation of the regional reserve currencies.
     • Develop recommendations to enhance the role of the Chinese yuan, the Russian ruble, the European euro and the Iranian riyal in international trade to achieve the status of the regional reserve currency and facilitate international trade procedures, imports and exports.
     The work will be in an organized and sober work methodology as follows: 
    First: Finding a clear definition and concept of the reserve currency in the Central Bank of Iraq law, describing the main functions that reserve currencies perform, and analyzing the advantages and disadvantages of owning a reserve currency. It should also contain, in an independent study or analysis, an overview of the main theoretical models of reserve currencies, taking into account that the methods and results of empirical assessments of the factors affecting the demand for reserve currencies such as Greece, the euro, the ruble, the riyal, and others, are dealt with and analyzed.  
    The third deals with the concept of a regional reserve currency and provides an empirical analysis of the role of regional reserve currencies.  
    The fourth is recommendations to raise the status of the Chinese yuan, the Russian ruble, the European euro, the Iranian riyal, and others, according to the momentum, intensity, and priority of trade and economic exchanges, and to form a regional reserve currency on its basis.
     

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