hi everyone, can someone explain what is the foreign reserves of a country , and is these reserves being kept in another country ? if the government of a country says he has 10 billions dollars in foreign reserve , how can it be verified ? regards,
If you go to your local bank and get 1000 euros in exchange for your own currency, you have that much in foreign reserves. Where you keep the cash is your business. The reasons government hold reserves of foreign currency are varied and you'll have to do your own homework.
Tiddy Ogg.
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-------------------------------------- stupid answer !!!
Stupid question, but then, you're American aren't you?
Tiddy Ogg.
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