Macro Economics Assignment - 2

1. DETERMINE THE AMOUNT OF TOTAL PHYSICAL DOLLAR CIRCULATING IN THE WORLD

$500 to
Year $1 $2 $5 $10 $20 $50 $100 $10,000 Total
2019 12.7 1.3 3.2 2.1 9.5 1.8 14.2 0.0004 44.9
2018 12.4 1.3 3.1 2 9.4 1.8 13.4 0.0004 43.4
2017 12.1 1.2 3 2 9.2 1.7 12.5 0.0004 41.6
2016 11.7 1.2 2.8 1.9 8.9 1.7 11.5 0.0004 39.8
2015 11.4 1.1 2.7 1.9 8.6 1.6 10.8 0.0005 38.1
2014 11 1.1 2.6 1.9 8.1 1.5 10.1 0.0005 36.4
2013 10.6 1 2.5 1.8 7.7 1.5 9.2 0.0005 34.5
2012 10.3 1 2.4 1.8 7.4 1.5 8.6 0.0005 33
2011 10 0.9 2.4 1.7 7.1 1.4 7.8 0.0005 31.3
2010 9.7 0.9 2.3 1.7 6.5 1.3 7 0.0005 29.5
2009 9.6 0.9 2.2 1.6 6.4 1.3 6.6 0.0005 28.5
2008 9.5 0.8 2.2 1.6 6.3 1.3 6.3 0.0005 27.9
2007 9.3 0.8 2.2 1.6 6.1 1.3 5.7 0.0005 26.9
2006 9 0.8 2.1 1.6 6 1.3 5.6 0.0005 26.4
2005 8.8 0.7 2.1 1.6 5.8 1.2 5.4 0.0005 25.6
2004 8.3 0.7 2 1.5 5.4 1.2 5.2 0.0005 24.2
2003 8.2 0.7 1.9 1.5 5.4 1.2 4.9 0.0005 23.8
2002 8 0.7 1.9 1.5 5.2 1.2 4.6 0.0005 22.9
2001 7.8 0.6 1.8 1.5 5 1.1 4.2 0.0005 22.1
2000 7.7 0.6 1.8 1.5 4.9 1.1 3.8 0.0005 21.3
1999 7.5 0.6 1.8 1.6 5.8 1.3 3.9 0.0005 22.5

(in billions of notes, as of December 31 of each year)

Includes Federal Reserve notes, U.S. notes, and currency no longer issued.
Source: https://www.federalreserve.gov/paymentsystems/coin_currcircvolume.htm

2. LIST THE TOP FIVE MOST TRADED CURRENCIES

I. US Dollar (USD)
II. EURO (EUR)
III. Japanese Yen (JPY)
IV. British Pound (GBP)
V. Australian Dollar (AUD)

Source: https://www.ig.com/au/trading-strategies/the-top-ten-most-traded-currencies-in-the-world

3. FIND THE TOTAL AMOUNT OF GOLD HODLINGS OF THE CENTRAL BANKS IN THE WORLD
 Macro Economics Assignment - 2

WORLD OFFICIAL GOLD HOLDINGS

(Data for top 20 holders)
International Financial Statistics, November 2020*

Rank Country Tonnes % of reserves**

1 United States 8,133.5 79.4%
2 Germany 3,362.4 76.6%
1)
3 IMF 2,814.0
4 Italy 2,451.8 71.1%
5 France 2,436.1 66.7%
6 Russian Federation 2,298.7 23.9%
7 China, P.R.: Mainland 1,948.3 3.6%
8 Switzerland 1,040.0 6.2%
9 Japan 765.2 3.3%
10 India 668.2 7.4%
11 Netherlands, The 612.5 69.3%
12 Turkey6) 561.0 47.4%
13 ECB 504.8 34.8%
14 Taiwan Province of China 423.6 4.9%
15 Kazakhstan, Rep. of 383.3 68.7%
16 Portugal 382.6 74.6%
17 Saudi Arabia 323.1 4.1%
18 United Kingdom 310.3 11.1%
19 Uzbekistan, Rep. of 307.3 55.6%
20 Lebanon 286.8 37.2%

Source : https://www.gold.org/goldhub/data/monthly-central-bank-statistics

NOTES

* This table was updated in November 2020 and reports data available at that time. Data are taken from the International Monetary Fund's
International Financial Statistics (IFS), November 2020 edition, and other sources where applicable. IFS data are two months in arrears, so
holdings are as of September 2020 for most countries, August 2020 or earlier for late reporters. The table does not list all gold holders:
countries which have not reported their gold holdings to the IMF in the last six months are not included, while other countries are known to hold
gold but they do not report their holdings publicly. Where the WGC knows of movements that are not reported to the IMF or misprints, changes
have been made.

**The percentage share held in gold of total foreign reserves, as calculated by the World Gold Council. The value of gold holdings is calculated
using the end of month LBMA Gold price published daily by ICE Benchmark Administration. In September 2020 the end of month gold price
was US$1,886.9/oz. Data for the value of other reserves are taken from IFS, table ‘Total Reserves minus Gold’.

1. BIS and IMF balance sheets do not allow this percentage to be calculated. In the case of any countries, up to date data for other reserves
are not available.
2. BIS data are updated each year from the BIS’s annual report to reflect the Bank’s gold investment assets excluding any gold held in
connection with swap operations, under which the Bank exchanges currencies for physical gold. The bank has an obligation to return the gold
at the end of the contract.
3. West African Economic Monetary Union including the central bank.
4. Includes only "Monetary gold" as of February 2014.
5. Signatories to the fourth Central Bank Gold Agreement which commenced in September 2014. The signatores include: ECB, Austria,
Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Luxembourg, Malta, Netherlands, Portugal, Slovakia,
Slovenia, Spain, Sweden, Switzerland.
6. The figure for Turkey’s official gold reserves excludes gold owned by commercial bank held at the central bank under the Reserve Option
Mechanicsm (ROM). As of end-March ROM holdings amounted to 364 tonnes. Our data previously included these ROM holdings in Turkey’s
central bank holdings. Since May 2017 Turkey’s central bank has been increasing its gold reserves by purchasing gold outright. We therefore
decided to publish the figure for Turkey’s official gold reserves exclusive of ROM holdings, to better reflect true central bank holdings. Please
see this link for information on this policy action http://www.tcmb.gov.tr/wps/wcm/connect/57c5777d-1f48-4eb4-98ba-af4c6aaddc20/ANO2012-
38.pdf?MOD=AJPERES&CACHEID=57c5777d-1f48-4eb4-98ba-af4c6aaddc20
7. World total as calculated by the IMF. This will not equal the total for the countries in the table as ‘World total’ will include data for countries
beyond the top 100 and for countries that do not publish their reserves. World total also captures BIS holdings inclusive of swap operations
(please see footnote 2 above for World Gold Council treatment of BIS holdings).
8. In July 2015 The State Bank of Vietnam stated that gold reserves totalled 10 tonnes. This is omitted from our ranking above due to
4. FIND THE AMOUNT OF GOLD SUPPLY AND PRICE OF GOLD OVER THE PAST 20 YEARS
the current absence of any published data.

Data has been provided from 2 sources and there is certain variation in the data from both sources.
 Macro Economics Assignment - 2

Source 1 - From 1999 - 2019 - https://www.usgs.gov/centers/nmic/gold-statistics-and-information

Source 2 - From 2010 - 2019 - https://www.gold.org/goldhub/data/gold-supply-and-demand-statistics

YEAR GOLD MINE PRODUCTION (Tons) PRICE ($/oz)

1999 2540 280
2000 2550 280
2001 2570 272
2002 2550 311
2003 2590 365
2004 2430 411
2005 2470 446
2006 2460 606
2007 2380 699
2008 2260 874
2009 2450 975
2010 2560 1227
2011 2660 1572
2012 2690 1673
2013 2800 1415
2014 2990 1269
2015 3100 1163
2016 3110 1252
2017 3230 1261
2018 3300 1272
2019 3300 1400

Source : https://www.usgs.gov/centers/nmic/gold-statistics-and-information

NET PRODUCER HEDGING

YEAR MINE (Tons) RECYCLED (Tons) TOTAL (Tons) PRICE $/OZ
(Tons)
2010 2750.2 -108.8 1674.5 4315.9 1225
2011 2862.3 22.5 1638.2 4523 1572
2012 2939.6 -45.3 1648 4542.3 1669
2013 3127.9 -27.9 1214.5 4314.5 1411
2014 3242.2 104.9 1149.1 4496.2 1266
2015 3336.3 12.9 1086.1 4435.3 1160
2016 3459.1 37.6 1249.1 4745.8 1251
2017 3491.8 -25.5 1128.1 4594.4 1257
2018 3554.2 -12.5 1147.1 4688.8 1268
2019 3530 -0.7 1281.3 4810.6 1393

Source : https://www.gold.org/goldhub/data/gold-supply-and-demand-statistics

5. USD LIST THE BIGGEST HOLDERS OF USD

 Macro Economics Assignment - 2

S.No Country Sep-20 Aug-20 Jul-20 Jun-20 May-20 Apr-20

 Macro Economics Assignment - 2

1 Japan 1276.2 1278.4 1293 1261.5 1260.4 1266.5

2 China, Mainland 1061.7 1068 1073.4 1074.4 1083.7 1072.8
3 United Kingdom 428.9 419.9 424.7 445.6 445.8 429.2
4 Ireland 315.8 335.3 330.8 330.3 324.2 301.3
5 Brazil 265.1 265 265.7 264.1 264.4 259.5
6 Luxembourg 262.5 268.8 264.7 267.6 262.7 265.5
7 Switzerland 255.3 253.1 250.7 247.4 243.1 241.3
8 Hong Kong 245.5 250.9 267.1 266.4 269 259.4
9 Cayman Islands 231.6 228.9 222.3 224 216.7 213
10 Belgium 218.1 215 211.9 218.7 212.1 210.2
11 Taiwan 213.5 212 209.7 204.6 199.2 201.7
12 India 213.5 196.5 194.6 182.7 169.9 157.4
13 Singapore 159 160.3 158.6 150.5 142.1 146.1
14 France 135.4 133.6 130.3 144.2 130.5 137.7
15 Saudi Arabia 131.2 130 124.6 124.9 123.5 125.3
(in billions of dollars)

Source : https://ticdata.treasury.gov/Publish/mfh.txt
Published on: November 17, 2020
Published by: Department of the Treasury/Federal Reserve Board
Estimated foreign holdings of U.S. Treasury marketable and non-marketable bills, bonds, and notes
reported under the Treasury International Capital (TIC) reporting system are based on monthly data
on holdings of Treasury bonds and notes as reported on TIC Form SLT, Aggregate Holdings of Long-
Term Securities by U.S. and Foreign Residents and on TIC Form BL2, Report of Customers' U.S. Dollar
Liabilities to Foreign Residents.