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International Reserves Template

The International Reserves template integrates the concepts of international reserves and foreign currency liquidity in a single framework.

As per the Balance of Payments Manual (BPM6), a country’s international reserves are “external assets that are readily available to and controlled by monetary authorities for meeting balance of payments financing needs, for intervention in exchange markets to affect the currency exchange rate, and for other related purposes (such as maintain confidence in the currency and the economy).”

Foreign currency liquidity refers to foreign currency resources classified as international reserves as well as those at the disposal of the authorities, which can be mobilised to meet the demands: for foreign exchange; scheduled and contingent demands for foreign resources to settle liabilities and off-balance-sheet activities.