{"id":34778,"date":"2025-06-27T12:14:27","date_gmt":"2025-06-27T06:44:27","guid":{"rendered":"https:\/\/edunovations.com\/currentaffairs\/?p=34778"},"modified":"2025-06-27T12:14:30","modified_gmt":"2025-06-27T06:44:30","slug":"second-largest-reserve-asset","status":"publish","type":"post","link":"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/","title":{"rendered":"Gold Becomes Second-Largest Reserve Asset Globally After US Dollar"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#Gold_becomes_worlds_second-largest_reserve_asset_overtaking_the_euro_Learn_why_central_banks_are_increasing_gold_holdings_and_what_it_means_for_the_global_economy\" >Gold becomes world\u2019s second-largest reserve asset, overtaking the euro. Learn why central banks are increasing gold holdings and what it means for the global economy.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#%F0%9F%93%B0_Gold_Overtakes_Euro_to_Become_Worlds_Second%E2%80%91Largest_Reserve_Asset\" >\ud83d\udcf0 Gold Overtakes Euro to Become World\u2019s Second\u2011Largest Reserve Asset<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#Surge_in_Central_Bank_Accumulation\" >Surge in Central Bank Accumulation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#Golds_Share_in_Global_Reserves\" >Gold\u2019s Share in Global Reserves<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#Price-Driven_and_Geopolitical_Dynamics\" >Price-Driven and Geopolitical Dynamics<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#Broader_Historical_Context\" >Broader Historical Context<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#Shift_in_Reserve_Policy\" >Shift in Reserve Policy<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#Why_This_News_Is_Important\" >Why This News Is Important<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#Strategic_Implications_for_Reserve_Management\" >Strategic Implications for Reserve Management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#Geopolitical_Signal\" >Geopolitical Signal<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#Economic_and_Financial_Literacy\" >Economic and Financial Literacy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#Long%E2%80%91term_Monetary_Evolution\" >Long\u2011term Monetary Evolution<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#%F0%9F%93%9C_Historical_Context\" >\ud83d\udcdc Historical Context<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#From_Gold_Standard_to_Fiat_Currency\" >From Gold Standard to Fiat Currency<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#Gold_in_Central_Reserves\" >Gold in Central Reserves<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#Recent_Resurgence_Geopolitical_Triggers\" >Recent Resurgence &amp; Geopolitical Triggers<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#Key_Takeaways_from_%E2%80%9CGold_Becomes_Worlds_Second-Largest_Reserve_Asset%E2%80%9D\" >Key Takeaways from &#8220;Gold Becomes World\u2019s Second-Largest Reserve Asset&#8221;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#Frequently_Asked_Questions_FAQs\" >Frequently Asked Questions (FAQs)<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#1_Why_is_gold_considered_a_safe-haven_asset\" >1. Why is gold considered a safe-haven asset?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#2_Which_countries_are_major_gold_buyers_in_recent_years\" >2. Which countries are major gold buyers in recent years?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#3_What_percentage_of_global_reserves_does_the_US_dollar_currently_hold\" >3. What percentage of global reserves does the US dollar currently hold?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#4_What_is_the_significance_of_central_banks_buying_gold_in_bulk\" >4. What is the significance of central banks buying gold in bulk?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#5_What_was_the_Bretton_Woods_system\" >5. What was the Bretton Woods system?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/second-largest-reserve-asset\/#Some_Important_Current_Affairs_Links\" >Some Important Current Affairs Links<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Gold_becomes_worlds_second-largest_reserve_asset_overtaking_the_euro_Learn_why_central_banks_are_increasing_gold_holdings_and_what_it_means_for_the_global_economy\"><\/span><strong>Gold becomes world\u2019s second-largest reserve asset, overtaking the euro. Learn why central banks are increasing gold holdings and what it means for the global economy.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%F0%9F%93%B0_Gold_Overtakes_Euro_to_Become_Worlds_Second%E2%80%91Largest_Reserve_Asset\"><\/span>\ud83d\udcf0 <strong>Gold Overtakes Euro to Become World\u2019s Second\u2011Largest Reserve Asset<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Surge_in_Central_Bank_Accumulation\"><\/span><strong>Surge in Central Bank Accumulation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Central banks around the globe have dramatically ramped up gold purchases over the past three years. In 2024 alone, official sector acquisitions surpassed 1,000 tonnes for the third consecutive year\u2014double the annual average seen in the 2010s <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Golds_Share_in_Global_Reserves\"><\/span><strong>Gold\u2019s Share in Global Reserves<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>According to the European Central Bank (ECB), gold now represents roughly <strong>20\u202fpercent<\/strong> of total official reserves\u2014surpassing the euro, which accounts for about 16\u202fpercent. The US dollar remains dominant at around 46\u202fpercent <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Price-Driven_and_Geopolitical_Dynamics\"><\/span><strong>Price-Driven and Geopolitical Dynamics<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The ascent of gold is fueled by multiple forces:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A sharp <strong>30\u202fpercent price surge<\/strong> in 2024, followed by continued rises into mid\u20112025 <\/li>\n\n\n\n<li>Concerns over <strong>sanctions<\/strong>, <strong>currency volatility<\/strong>, and exposure to dollar-centric financial systems\u2014especially post\u2011Russia\u2011Ukraine war <\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Broader_Historical_Context\"><\/span><strong>Broader Historical Context<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Gold holdings by central banks are nearing the highest levels seen since the 1960s (approx. 36,000\u202ftonnes vs ~38,000\u202ftonnes during the Bretton Woods era) <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Shift_in_Reserve_Policy\"><\/span><strong>Shift in Reserve Policy<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This trend highlights a broader strategic shift: emerging economies (notably India, China, Turkey, and Poland) are diversifying away from solely holding US dollars, choosing gold for its stability and immunity to sanctions <\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\" id=\"Second-Largest-Reserve-Asset\"><img decoding=\"async\" src=\"https:\/\/m.economictimes.com\/thumb\/msid-121803850,width-1200,height-900,resizemode-4,imgsize-28278\/explained-why-gold-beat-euro-to-become-the-worlds-second-largest-reserve-asset.jpg\" alt=\"Second-Largest Reserve Asset\" title=\"Second-Largest Reserve Asset\"\/><figcaption class=\"wp-element-caption\">Second-Largest Reserve Asset<\/figcaption><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_This_News_Is_Important\"><\/span><strong>Why This News Is Important<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Strategic_Implications_for_Reserve_Management\"><\/span><strong>Strategic Implications for Reserve Management<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Gold&#8217;s rise underscores a pivotal transformation in central bank strategy. Governments are reducing reliance on volatile fiat currencies, opting instead for assets free from counterparty and sanction risks. This is especially relevant for aspirants of banking, civil services, and economic sectors\u2014understanding global asset diversification is crucial <\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Geopolitical_Signal\"><\/span><strong>Geopolitical Signal<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>The move away from the euro and dollar reserves reflects eroding confidence in Western financial systems. Students preparing for exams like IAS, PCS, or defence sectors should note how geopolitical crises (e.g., Russia\u2011Ukraine war) and trade tensions influence reserve policies and international economic stability .<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Economic_and_Financial_Literacy\"><\/span><strong>Economic and Financial Literacy<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>In UPSC, RBI Grade B, banking exams, knowledge of global reserve trends is vital. Understanding why central banks hold gold\u2014price stability, inflation hedging, geopolitical insurance\u2014enhances your essay writing and policy analysis capabilities .<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Long%E2%80%91term_Monetary_Evolution\"><\/span><strong>Long\u2011term Monetary Evolution<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Gold\u2019s resurgence suggests a re-emergence of older monetary practices reminiscent of the Bretton Woods era\u2014valuing non-sovereign assets. Recognizing these trends is key for aspirants tackling questions on global monetary systems and future currency scenarios .<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%F0%9F%93%9C_Historical_Context\"><\/span>\ud83d\udcdc <strong>Historical Context<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"From_Gold_Standard_to_Fiat_Currency\"><\/span><strong>From Gold Standard to Fiat Currency<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Initially, global currencies were backed by gold under the Bretton Woods system, with the US dollar pegged at $35\/oz. However, in 1971, President Nixon ended dollar\u2013gold convertibility, ushering in the era of fiat currencies .<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Gold_in_Central_Reserves\"><\/span><strong>Gold in Central Reserves<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Central bank gold reserves peaked around 1965 (~38,000\u202ftonnes). After decades of decline, reserves have rebounded to about 36,000\u202ftonnes by end\u20112024\u2014approaching historical highs<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Recent_Resurgence_Geopolitical_Triggers\"><\/span><strong>Recent Resurgence &amp; Geopolitical Triggers<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Post\u20112022, central banks\u2014especially in emerging economies\u2014accelerated gold buying due to inflation fears, dollar weakness, and, critically, sanctions risks following Russia\u2019s invasion of Ukraine <\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Takeaways_from_%E2%80%9CGold_Becomes_Worlds_Second-Largest_Reserve_Asset%E2%80%9D\"><\/span><strong>Key Takeaways from &#8220;Gold Becomes World\u2019s Second-Largest Reserve Asset&#8221;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u2705 S.No<\/th><th>\ud83d\udccc Key Takeaway<\/th><\/tr><\/thead><tbody><tr><td>1<\/td><td>Gold now holds ~20% of central bank reserves, surpassing the euro\u2019s ~16%.<\/td><\/tr><tr><td>2<\/td><td>USD leads with approximately 46% of global reserves.<\/td><\/tr><tr><td>3<\/td><td>2024 saw central banks buy over 1,000 tonnes of gold\u2014three years in a row.<\/td><\/tr><tr><td>4<\/td><td>Global gold reserves (~36,000\u202ft) are close to the 1960s peak (~38,000\u202ft).<\/td><\/tr><tr><td>5<\/td><td>Major reser\u00adve buyers include India, China, Turkey, and Poland\u2014driven by geopolitical risks, inflation hedges, and desire to diversify.<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\">Second-Largest Reserve Asset<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_FAQs\"><\/span><strong>Frequently Asked Questions (FAQs)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_Why_is_gold_considered_a_safe-haven_asset\"><\/span>1. <strong>Why is gold considered a safe-haven asset?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Gold is seen as a safe-haven asset because it retains its value during economic uncertainty, inflation, or geopolitical tensions. It is not tied to any single country or economy, making it less vulnerable to currency fluctuations or sanctions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Which_countries_are_major_gold_buyers_in_recent_years\"><\/span>2. <strong>Which countries are major gold buyers in recent years?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Major gold-buying countries include China, India, Turkey, Poland, and Russia. These nations are increasing their gold reserves to diversify away from the US dollar and mitigate geopolitical risks.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_What_percentage_of_global_reserves_does_the_US_dollar_currently_hold\"><\/span>3. <strong>What percentage of global reserves does the US dollar currently hold?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As of mid-2025, the US dollar holds approximately <strong>46%<\/strong> of the total global central bank reserves, making it the largest reserve asset.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_What_is_the_significance_of_central_banks_buying_gold_in_bulk\"><\/span>4. <strong>What is the significance of central banks buying gold in bulk?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Central banks buying gold in large quantities signals a lack of confidence in fiat currencies and an effort to build financial resilience against inflation, currency depreciation, or global financial instability.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_What_was_the_Bretton_Woods_system\"><\/span>5. <strong>What was the Bretton Woods system?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Bretton Woods system was an international monetary framework post-WWII where currencies were pegged to the US dollar, which was convertible to gold. It collapsed in 1971, transitioning the world to fiat currencies.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Some_Important_Current_Affairs_Links\"><\/span>Some Important Current Affairs Links<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--1\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/national\/\" target=\"_blank\" rel=\"noreferrer noopener\">State Current Affairs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--2\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/sports\/\" target=\"_blank\" rel=\"noreferrer noopener\">Sports Current Affairs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--3\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/international\/\" target=\"_blank\" rel=\"noreferrer noopener\">International Current Affairs<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/banking\/\" target=\"_blank\" rel=\"noreferrer noopener\">Banking Current Affairs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/railway\/\" target=\"_blank\" rel=\"noreferrer noopener\">Railways Current Affairs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/defence\/\" target=\"_blank\" rel=\"noreferrer 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Learn why central banks are increasing gold holdings and what it means for the global economy. \ud83d\udcf0 Gold Overtakes Euro to Become World\u2019s Second\u2011Largest Reserve Asset Surge in Central Bank Accumulation Central banks around the globe have dramatically ramped up gold purchases over the past three&#8230;<\/p>\n","protected":false},"author":6,"featured_media":34798,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,153],"tags":[14191,23948,1209,23949,918,17981,23946,23947],"class_list":["post-34778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","category-miscellaneous","tag-central-banks","tag-euro-reserve-fall","tag-forex-reserves","tag-geopolitical-finance","tag-global-economy","tag-gold-reserves","tag-rbi-gold-strategy","tag-us-dollar-dominance"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/posts\/34778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/comments?post=34778"}],"version-history":[{"count":2,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/posts\/34778\/revisions"}],"predecessor-version":[{"id":34801,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/posts\/34778\/revisions\/34801"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/media\/34798"}],"wp:attachment":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/media?parent=34778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/categories?post=34778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/tags?post=34778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}