Foreign exchange reserves , also called Forex reserves, are, in a strict sense, only foreign-currency deposits held by nationals and monetary authorities. However, in popular usage and in the list below, it also includes gold reserves, special drawing rights (SDRs) and IMF reserve position because this total figure, which is usually more accurately termed as official reserves or international reserves or official international reserves, is more readily available and also arguably more meaningful. [1]
These foreign-currency deposits are the financial assets of the central banks and monetary authorities that are held in different reserve currencies (e.g. the U.S. Dollar, the Euro, the Japanese Yen, the Indian Rupee, the Pound Sterling, and the Chinese Yuan) and which are used to back its liabilities (e.g. the local currency issued and the various bank reserves deposited with the Central bank by the government or financial institutions). Before the end of the gold standard, gold was the preferred reserve currency.
Countries | Forex Reserves Including Gold (data in millions US$) | Date | Change / / | Forex Reserves Excluding Gold (data in millions US$) | Date | Change / / | Ref |
---|---|---|---|---|---|---|---|
China | 3,225,817 | 1 Apr 2024 | 28,957 | 3,113,850 | 1 Apr 2024 | 4,15 | [2] |
Japan | 1,290,606 | 5 Apr 2024 | 9,122 | 1,230,377 | 5 Apr 2024 | 4,598 | [3] |
Switzerland | 868,632 | 1 Mar 2024 | 1,127 | 800,164 | 1 Mar 2024 | 198 | [4] |
India | 643,162 | 12 Apr 2024 | 2,980 | 587,364 | 12 Apr 2024 | 581 | [5] |
Russia | 600,700 | 12 Apr 2024 | 2,400 | 438,653 | 12 Apr 2024 | 541 | [6] |
Taiwan | 569,420 | 5 Mar 2024 | 118 | 564,420 | 5 Mar 2024 | 17 | [7] |
Saudi Arabia | 431,743 | 7 Mar 2024 | 7,223 | 430,799 | 7 Mar 2024 | [8] | |
Hong Kong | 423,092 | 1 Mar 2024 | 2,462 | 422,956 | 1 Mar 2024 | 37 | [9] |
South Korea | 415,759 | 6 Mar 2024 | 4,389 | 415,754 | 6 Mar 2024 | [10] | |
Mexico | 364,192 | 20 Mar 2024 | 3425 | 291,108 | 20 Mar 2024 | 439 | [11] |
Singapore | 357,345 | 1 Mar 2024 | 4,465 | 347,083 | 1 Mar 2024 | 356 | [12] |
Brazil | 352,705 | 1 Mar 2024 | 2,361 | 344,173 | 1 Mar 2024 | 361 | [13] |
Germany | 339,800 | 31 Mar 2024 | 19,247 | 100,135 | 31 Mar 2024 | 734 | [14] |
United States | 242,681 | 15 Mar 2024 | 1,422 | 231,640 | 15 Mar 2024 | 41 | [15] |
France | 240,677 | 1 Mar 2024 | 2,400 | 120,745 | 1 Mar 2024 | 33 | [16] |
Thailand | 223,769 | 15 Mar 2024 | 1,391 | 218,308 | 15 Mar 2024 | 26 | [17] |
Israel | 206,828 | 1 Mar 2024 | 8,659 | 206,828 | 1 Mar 2024 | [18] | |
Poland | 187,996 | 1 Mar 2024 | 1,248 | 154,553 | 1 Mar 2024 | 23,502 | [19] |
United Kingdom | 183,952 | 5 Mar 2024 | 26,610 | 163,520 | 5 Mar 2024 | 43 | [20] |
United Arab Emirates | 151,600 | 1 Mar 2024 | 3,540 | 146,400 | 1 Mar 2024 | 34 | [21] |
Czech Republic | 144,996 | 1 Mar 2024 | 2,007 | 144,996 | 1 Mar 2024 | [22] | |
Indonesia | 149,915 | 1 Mar 2024 | 3,515 | 149,915 | 1 Mar 2024 | [23] | |
Turkey | 128,490 | 1 Mar 2024 | 3,391 | 79,060 | 1 Mar 2024 | 129 | [24] |
Netherlands | 125,451 | 1 Mar 2024 | 212 | 125,451 | 1 Mar 2024 | [25] | |
Canada | 116,251 | 1 Mar 2024 | 45 | 116,251 | 1 Mar 2024 | [26] | |
Philippines | 104,033 | 1 Mar 2024 | 2,039 | 93,502 | 1 Mar 2024 | 1,845 | [27] |
Malaysia | 102,241 | 1 Mar 2024 | 10,659 | 99,652 | 1 Mar 2024 | [28] | |
Iraq | 100,000 | 25 Mar 2024 | 15,000 | 100,000 | 25 Mar 2024 | [29] | |
Spain | 94,341 | 1 Mar 2024 | 5,485 | 94,341 | 1 Mar 2024 | [30] | |
Vietnam | 93,342 | 1 Mar 2024 | 1,241 | 93,342 | 1 Mar 2024 | [31] | |
Belgium | 82,000 | 1 Mar 2024 | 14,200 | 67,200 | 1 Mar 2024 | 79 | [32] |
Denmark | 80,058 | 1 Mar 2024 | 1,261 | 75,660 | 1 Mar 2024 | 126 | [33] |
Romania | 77,364 | 31 Mar 2024 | 7,498 | 69,866 | 31 Mar 2024 | 7,809 | [34] |
Peru | 73,483 | 1 Mar 2024 | 201 | data not available | 1 Mar 2024 | data not available | [35] |
Norway | 71,901 | 1 Mar 2024 | 330 | data not available | 1 Mar 2024 | data not available | [36] |
Libya | 70,524 | 1 Mar 2024 | 238 | data not available | 1 Mar 2024 | data not available | [37] |
Italy | 69,810 | 1 Mar 2024 | 137 | data not available | 1 Mar 2024 | data not available | [38] |
Algeria | 68,028 | 1 Mar 2024 | 1,880 | data not available | 1 Mar 2024 | data not available | [39] |
Qatar | 64,560 | 1 Mar 2024 | 8,931 | data not available | 1 Mar 2024 | data not available | [40] |
Sweden | 59,568 | 23 Mar 2024 | 842 | 51,602 | 23 Mar 2024 | 147 | [41] |
Colombia | 57,269 | 8 Mar 2024 | 124 | data not available | 8 Mar 2024 | data not available | [42] |
Australia | 53,883 | 7 Mar 2024 | 604 | 45,816 | 7 Mar 2024 | 48 | [43] |
Portugal | 53,710 | 1 Mar 2024 | 7,800 | data not available | 1 Mar 2024 | data not available | [44] |
South Africa | 53,473 | 7 Mar 2024 | 504 | 45,293 | 7 Mar 2024 | 49 | [45] |
Kuwait | 46,420 | 1 Mar 2024 | 1,112 | data not available | 1 Mar 2024 | data not available | [46] |
Chile | 42,527 | 1 Mar 2024 | 2,373 | data not available | 1 Mar 2024 | data not available | [47] |
Ukraine | 40,507 | 1 Mar 2024 | 1,212 | data not available | 1 Mar 2024 | data not available | [48] |
Hungary | 41,344 | 1 Mar 2024 | 4,749 | data not available | 1 Mar 2024 | data not available | [49] |
Bulgaria | 35,395 | 1 Mar 2024 | 692 | data not available | 1 Mar 2024 | data not available | [50] |
Egypt | 35,310 | 1 Mar 2024 | 3,161 | data not available | 1 Mar 2024 | data not available | [51] |
Nigeria | 34,980 | 1 Mar 2024 | 465 | data not available | 1 Mar 2024 | data not available | [52] |
Austria | 34,856 | 1 Mar 2024 | 954 | 34,671 | 1 Mar 2024 | 187 | [53] |
Kazakhstan | 34,500 | 1 Mar 2024 | 938 | data not available | 1 Mar 2024 | data not available | [54] |
Uzbekistan | 32,195 | 1 Mar 2024 | 950 | data not available | 1 Mar 2024 | data not available | [55] |
Morocco | 32,037 | 1 Mar 2024 | 213 | data not available | 1 Mar 2024 | data not available | [56] |
New Zealand | 31,712 | 1 Mar 2024 | 1,916 | data not available | 1 Mar 2024 | data not available | [57] |
Croatia | 28,680 | 1 Mar 2024 | 159 | data not available | 1 Mar 2024 | data not available | [58] |
Bangladesh | 25,231.7 | March 2024 | 867 | data not available | 21 Mar 2024 | data not available | [59] |
Serbia | 24,468 | 1 Mar 2024 | 667 | data not available | 1 Mar 2024 | data not available | [60] |
Iran | 24,300 | 1 Mar 2024 | 1,641 | 23,600 | 1 Mar 2024 | [61] | |
Macau | 24,283 | 1 Mar 2024 | 1,566 | data not available | 1 Mar 2024 | data not available | [62] |
Guatemala | 21,390 | 1 Mar 2024 | 1300 | data not available | 1 Mar 2024 | data not available | [63] |
Argentina | 20,846 | 1 Mar 2024 | 2,090 | data not available | 1 Mar 2024 | data not available | [64] |
Turkmenistan | 20,600 | 1 Mar 2024 | 45 | data not available | 1 Mar 2024 | data not available | [65] |
Cambodia | 18,496 | 1 Mar 2024 | 67 | data not available | 1 Mar 2024 | data not available | [66] |
Jordan | 18,765 | 1 Mar 2024 | 187 | data not available | 1 Mar 2024 | data not available | [67] |
Nepal | 18,400 | 11 Mar 2024 | 1,857 | data not available | 11 Mar 2024 | data not available | [68] |
Oman | 16,163 | 1 Mar 2024 | 548 | data not available | 1 Mar 2024 | data not available | [69] |
Uruguay | 15,449 | 1 Mar 2024 | 1.176 | 15,441 | 1 Mar 2024 | 11 | [70] |
Lebanon | 14,738 | 1 Mar 2024 | 692 | data not available | 1 Mar 2024 | data not available | [71] |
Dominican Republic | 14,371 | 1 Mar 2024 | 1,145 | data not available | 1 Mar 2024 | data not available | [72] |
Angola | 14,200 | 15 Mar 2024 | 40 | data not available | 15 Mar 2024 | data not available | [73] |
Costa Rica | 13,200 | 1 Mar 2024 | 320 | data not available | 1 Mar 2024 | data not available | [74] |
Ireland | 12,599 | 1 Mar 2024 | 130 | 11,874 | 1 Mar 2024 | 2 | [75] |
Azerbaijan | 11,650 | 1 Mar 2024 | 142 | data not available | 1 Mar 2024 | data not available | [76] |
Ivory Coast | 9,800 | 1 Mar 2024 | 18 | data not available | 1 Mar 2024 | data not available | [77] |
Paraguay | 9,707 | 1 Mar 2024 | 805 | 9,168 | 1 Mar 2024 | 7 | [78] |
Bosnia and Herzegovina | 8,711 | 1 Mar 2024 | 391 | data not available | 1 Mar 2024 | data not available | [79] |
Tunisia | 8,623 | 21 Mar 2024 | 539 | data not available | 21 Mar 2024 | data not available | [80] |
North Korea | 8,072 | 1 Mar 2024 | 73 | data not available | 1 Mar 2024 | data not available | [81] |
Pakistan | 8,040 | 29 Mar 2024 | 19 | 8,021 | 22 Mar 2024 | 5 | [82] |
Finland | 7,995 | 1 Mar 2024 | 22 | data not available | 1 Mar 2024 | data not available | [83] |
Slovakia | 7,650 | 1 Mar 2024 | 441 | data not available | 1 Mar 2024 | data not available | [84] |
Honduras | 7,390 | 21 Mar 2024 | 580 | data not available | 21 Mar 2024 | data not available | [85] |
Tanzania | 7,022 | 22 Mar 2024 | 600 | data not available | 22 Mar 2024 | data not available | [86] |
Iceland | 6,847 | 15 Mar 2024 | 24 | 6,668 | 15 Mar 2024 | 9 | [87] |
Myanmar | 6,700 | 1 Mar 2024 | 800 | data not available | 1 Mar 2024 | data not available | [88] |
Moldova | 6,390 | 11 Mar 2024 | 600 | data not available | 11 Mar 2024 | data not available | [89] |
Afghanistan | 6,228 | 1 Mar 2024 | 60 | data not available | 1 Mar 2024 | data not available | [90] |
Panama | 6,143 | 1 Mar 2024 | 200 | data not available | 1 Mar 2024 | data not available | [91] |
Venezuela | 5,908 | 1 Mar 2024 | 776 | data not available | 1 Mar 2024 | data not available | [92] |
Trinidad and Tobago | 5,800 | 18 Mar 2024 | 44 | data not available | 18 Mar 2024 | data not available | [93] |
Albania | 5,700 | 1 Mar 2024 | 400 | 5,467 | 1 Mar 2024 | 47 | [94] |
Mauritius | 5,591 | 1 Mar 2024 | 196 | 5,497 | 1 Mar 2024 | 27 | [95] |
Bahrain | 5,500 | 25 Mar 2024 | 128 | data not available | 25 Mar 2024 | data not available | [96] |
Georgia | 5,224 | 25 Mar 2024 | 90 | data not available | 25 Mar 2024 | data not available | [97] |
Mongolia | 5,120 | 20 Mar 2024 | 500 | data not available | 20 Mar 2024 | data not available | [98] |
Botswana | 5,080 | 1 Mar 2024 | 267 | data not available | 1 Mar 2024 | data not available | [99] |
Jamaica | 4,921 | 5 Mar 2024 | 300 | data not available | 5 Mar 2024 | data not available | [100] |
Lithuania | 4,900 | 1 Mar 2024 | 440 | data not available | 1 Mar 2024 | data not available | [101] |
Sri Lanka | 4,517 | 1 Mar 2024 | 99 | data not available | 1 Mar 2024 | data not available | [102] |
Vatican City | 4,339 | 1 Mar 2024 | 950 | data not available | 1 Mar 2024 | data not available | [103] |
Armenia | 4,298 | 25 Mar 2024 | 600 | data not available | 25 Mar 2024 | data not available | [104] |
Nicaragua | 3,980 | 1 Mar 2024 | 1,100 | data not available | 1 Mar 2024 | data not available | [105] |
Greece | 3,926 | 1 Mar 2024 | 107 | 3,869 | 1 Mar 2024 | 8 | [106] |
Latvia | 3,913 | 1 Mar 2024 | 13 | data not available | 1 Mar 2024 | data not available | [107] |
Uganda | 3,700 | 1 Mar 2024 | 259 | data not available | 1 Mar 2024 | data not available | [108] |
Andorra | 3,689 | 20 Mar 2024 | 11 | data not available | 20 Mar 2024 | data not available | [109] |
Brunei | 3,664 | 1 Mar 2024 | 107 | data not available | 1 Mar 2024 | data not available | [110] |
Cameroon | 3,459 | 1 Mar 2024 | 180 | data not available | 1 Mar 2024 | data not available | [111] |
Ethiopia | 3,430 | 1 Mar 2024 | 170 | data not available | 1 Mar 2024 | data not available | [112] |
Ghana | 3,368 | 1 Mar 2024 | 452 | data not available | 1 Mar 2024 | data not available | [113] |
Ecuador | 3,305 | 1 Mar 2024 | 747 | data not available | 1 Mar 2024 | data not available | [114] |
Belarus | 3,296 | 1 Mar 2024 | 146 | data not available | 1 Mar 2024 | data not available | [115] |
Kyrgyzstan | 2,976 | 1 Mar 2024 | 193 | data not available | 1 Mar 2024 | data not available | [116] |
Slovenia | 2,519 | 1 Mar 2024 | 062 | data not available | 1 Mar 2024 | data not available | [117] |
El Salvador | 2,510 | 1 Mar 2024 | 39 | data not available | 1 Mar 2024 | data not available | [118] |
Cuba | 2,500 | 15 Mar 2024 | 10,391 | data not available | 15 Mar 2024 | data not available | [119] |
Kenya | 2,490 | 5 Mar 2024 | 1,073 | data not available | 1 Mar 2024 | data not available | [120] |
Papua New Guinea | 2,339 | 1 Mar 2024 | 500 | data not available | 1 Mar 2024 | data not available | [121] |
Haiti | 2,296 | 1 Mar 2024 | 1,256 | data not available | 1 Mar 2024 | data not available | [122] |
Estonia | 2,065 | 1 Mar 2024 | 145 | data not available | 1 Mar 2024 | data not available | [123] |
Namibia | 2,019 | 1 Mar 2024 | 25 | data not available | 1 Mar 2024 | data not available | [124] |
Bahamas | 1,758 | 1 Mar 2024 | 85 | data not available | 1 Mar 2024 | data not available | [125] |
Bolivia | 1,769 | 1 Mar 2024 | 471 | data not available | 1 Mar 2024 | data not available | [126] |
Madagascar | 1,620 | 19 Mar 2024 | 127 | data not available | 19 Mar 2024 | data not available | [127] |
Montenegro | 1,558 | 1 Mar 2024 | 26 | data not available | 1 Mar 2024 | data not available | [128] |
Mauritania | 1,493 | 1 Mar 2024 | 37 | data not available | 1 Mar 2024 | data not available | [129] |
Tajikistan | 1,482 | 1 Mar 2024 | 19 | data not available | 1 Mar 2024 | data not available | [130] |
Rwanda | 1,458 | 1 Mar 2024 | 7 | data not available | 1 Mar 2024 | data not available | [131] |
Zambia | 1,433 | 1 Mar 2024 | 16 | data not available | 1 Mar 2024 | data not available | [132] |
Guinea | 1,425 | 15 Mar 2024 | 33 | data not available | 15 Mar 2024 | data not available | [133] |
Gabon | 1,377 | 1 Mar 2024 | 90 | data not available | 1 Mar 2024 | data not available | [134] |
Cyprus | 1,271 | 1 Mar 2024 | 200 | data not available | 1 Mar 2024 | data not available | [135] |
Luxembourg | 1,119 | 5 Mar 2024 | 34 | data not available | 5 Mar 2024 | data not available | [136] |
Laos | 1,099 | 1 Mar 2024 | 23 | data not available | 1 Mar 2024 | data not available | [137] |
Curaçao | 1,080 | 20 Mar 2024 | 30 | data not available | 20 Mar 2024 | data not available | [138] |
Fiji | 1,065 | 5 Mar 2024 | 22 | data not available | 5 Mar 2024 | data not available | [139] |
Niger | 1,053 | 1 Mar 2024 | 24 | data not available | 1 Mar 2024 | data not available | [140] |
Aruba | 1,017 | 15 Mar 2024 | 30 | data not available | 15 Mar 2024 | data not available | [141] |
Bhutan | 972 | 10 Mar 2024 | 3 | data not available | 10 Mar 2024 | data not available | [142] |
Kosovo | 950 | 1 Mar 2024 | 15 | data not available | 1 Mar 2024 | data not available | [143] |
Malta | 937 | 20 Mar 2024 | 9 | data not available | 20 Mar 2024 | data not available | [144] |
Lesotho | 785 | 1 Mar 2024 | 11 | data not available | 1 Mar 2024 | data not available | [145] |
Barbados | 770 | 1 Mar 2024 | 2 | data not available | 1 Mar 2024 | data not available | [146] |
Cape Verde | 712 | 1 Mar 2024 | 25 | data not available | 1 Mar 2024 | data not available | [147] |
San Marino | 716 | 1 Mar 2024 | 243 | data not available | 1 Mar 2024 | data not available | [148] |
Gambia | 698 | 1 Mar 2024 | 6 | data not available | 1 Mar 2024 | data not available | [149] |
Palestine | 671 | 1 Mar 2024 | 12 | data not available | 1 Mar 2024 | data not available | [150] |
Timor-Leste | 654 | 1 Mar 2024 | 2 | data not available | 1 Mar 2024 | data not available | [151] |
Suriname | 647 | 8 Mar 2024 | 30 | data not available | 8 Mar 2024 | data not available | [152] |
Sierra Leone | 624 | 2 Mar 2024 | 2 | data not available | 2 Mar 2024 | data not available | [153] |
Mali | 604 | 1 Mar 2024 | 19 | data not available | 1 Mar 2024 | data not available | [154] |
Maldives | 588 | 1 Mar 2024 | 180 | data not available | 1 Mar 2024 | data not available | [155] |
Guyana | 553 | 10 Mar 2024 | 20 | data not available | 10 Mar 2024 | data not available | [156] |
Solomon Islands | 551 | 8 Mar 2024 | 24 | data not available | 8 Mar 2024 | data not available | [157] |
Seychelles | 546 | 1 Mar 2024 | 19 | data not available | 1 Mar 2024 | data not available | [158] |
Vanuatu | 509 | 1 Mar 2024 | 2 | data not available | 1 Mar 2024 | data not available | [159] |
Democratic Republic of the Congo | 505 | 14 Mar 2024 | 160 | data not available | 14 Mar 2024 | data not available | [160] |
Djibouti | 504 | 1 Mar 2024 | 3 | data not available | 1 Mar 2024 | data not available | [161] |
Malawi | 488 | 1 Mar 2024 | 17 | data not available | 1 Mar 2024 | data not available | [162] |
Eswatini | 467 | 1 Mar 2024 | 27 | data not available | 1 Mar 2024 | data not available | [163] |
Republic of the Congo | 443 | 1 Mar 2024 | 20 | data not available | 1 Mar 2024 | data not available | [164] |
Syria | 401 | 1 Mar 2024 | 16 | data not available | 1 Mar 2024 | data not available | [165] |
Federated States of Micronesia | 395 | 1 Mar 2024 | 2 | data not available | 1 Mar 2024 | data not available | [166] |
Central African Republic | 375 | 1 Mar 2024 | 14 | data not available | 1 Mar 2024 | data not available | [167] |
Saint Kitts and Nevis | 365 | 1 Mar 2024 | 14 | data not available | 1 Mar 2024 | data not available | [168] |
Liberia | 342 | 1 Mar 2024 | 7 | data not available | 1 Mar 2024 | data not available | [169] |
Guinea-Bissau | 329 | 1 Mar 2024 | 3 | data not available | 1 Mar 2024 | data not available | [170] |
Antigua and Barbuda | 285 | 1 Mar 2024 | 6 | data not available | 1 Mar 2024 | data not available | [171] |
Belize | 281 | 1 Mar 2024 | 4 | data not available | 1 Mar 2024 | data not available | [172] |
Saint Lucia | 258 | 1 Mar 2024 | 2 | data not available | 1 Mar 2024 | data not available | [173] |
Yemen | 250 | 1 Mar 2024 | 5 | data not available | 1 Mar 2024 | data not available | [174] |
Grenada | 247 | 1 Mar 2024 | 11 | data not available | 1 Mar 2024 | data not available | [175] |
Tonga | 226 | 1 Mar 2024 | 3 | data not available | 1 Mar 2024 | data not available | [176] |
Togo | 208 | 1 Mar 2024 | 7 | data not available | 1 Mar 2024 | data not available | [177] |
Comoros | 197 | 1 Mar 2024 | 5 | data not available | 1 Mar 2024 | data not available | [178] |
Saint Vincent and the Grenadines | 192 | 1 Mar 2024 | 1 | data not available | 1 Mar 2024 | data not available | [179] |
Eritrea | 189 | 1 Mar 2024 | 2 | data not available | 1 Mar 2024 | data not available | [180] |
Samoa | 188 | 1 Mar 2024 | 3 | data not available | 1 Mar 2024 | data not available | [181] |
São Tomé and Príncipe | 186 | 1 Mar 2024 | 2 | data not available | 1 Mar 2024 | data not available | [182] |
Sudan | 172 | 1 Mar 2024 | 5 | data not available | 1 Mar 2024 | data not available | [183] |
Dominica | 168 | 1 Mar 2024 | 6 | data not available | 1 Mar 2024 | data not available | [184] |
Senegal | 164 | 1 Mar 2024 | 12 | data not available | 1 Mar 2024 | data not available | [185] |
Zimbabwe | 159 | 1 Mar 2024 | 8 | data not available | 1 Mar 2024 | data not available | [186] |
Chad | 143 | 1 Mar 2024 | 4 | data not available | 1 Mar 2024 | data not available | [187] |
Burundi | 105 | 1 Mar 2024 | 6 | data not available | 1 Mar 2024 | data not available | [188] |
South Sudan | 80 | 2 Mar 2024 | 7 | data not available | 2 Mar 2024 | data not available | [189] |
Benin | 69 | 1 Mar 2024 | 9 | data not available | 1 Mar 2024 | data not available | [190] |
Montserrat | 54 | 1 Mar 2024 | 5 | data not available | 1 Mar 2024 | data not available | [191] |
Equatorial Guinea | 46 | 1 Mar 2024 | 2 | data not available | 1 Mar 2024 | data not available | [192] |
Burkina Faso | 42 | 1 Mar 2024 | 3 | data not available | 1 Mar 2024 | data not available | [193] |
Somalia | 37 | 1 Mar 2024 | 5 | data not available | 1 Mar 2024 | data not available | [194] |
Kiribati | 8 | 1 Mar 2024 | 2 | data not available | 1 Mar 2024 | data not available | [195] |
The five countries with the largest foreign exchange reserves almost all have reserves of at least 500 billion USD and higher and have maintained such an amount for at least a week. At present there are only six countries whose reserves are at such a figure; this includes China, Japan, Switzerland, India, Russia and Taiwan. Saudi Arabia formerly included on the list until March 2020; its reserves were severely depleted by the low oil price during the economic fallout of from the global outbreak of coronavirus disease, its ongoing oil price war with Russia and competition from US shale oil. [196] Here is the combined foreign reserves timeline for China, Japan, Switzerland, India, Russia. [197]
IMF releases the quarterly data on the currency composition of official foreign exchange reserves. The data are reported to the IMF on a voluntary and confidential basis. As of Q4 2016, there are 146 reporters, consisting of IMF member countries, a number of non-member countries/economies, and other entities holding foreign exchange reserves. From Q4 2016, the data was expanded to include renminbi (RMB). [207] Monetary gold is not covered in COFER but included in reserved assets, a broader scope than that of COFER. [208]
Currency→ ↓Quarter | USD | EUR | JPY | GBP | CAD | RMB | AUD | CHF | Other Currencies | Unallocated Reserves | Total |
---|---|---|---|---|---|---|---|---|---|---|---|
Q1 2019 | 6,727.09 | 2,208.79 | 584.63 | 495.70 | 208.64 | 212.26 | 181.95 | 15.27 | 263.50 | 712.93 | 11,610.77 |
Q2 2019 | 6,752.28 | 2,264.88 | 611.87 | 497.41 | 209.85 | 212.80 | 186.71 | 15.53 | 270.56 | 715.88 | 11,737.76 |
Q3 2019 | 6,728.85 | 2,212.74 | 612.75 | 492.22 | 205.44 | 213.83 | 182.48 | 16.20 | 262.92 | 729.40 | 11,656.82 |
Q4 2019 | 6,674.83 | 2,279.30 | 631.00 | 511.51 | 206.71 | 215.81 | 187.18 | 17.36 | 281.50 | 749.55 | 11,824.74 |
Q1 2020 | 6,794.91 | 2,197.30 | 624.97 | 486.08 | 195.13 | 221.48 | 170.16 | 16.05 | 255.53 | 770.32 | 11,731.94 |
Q2 2020 | 6,902.01 | 2,272.44 | 643.70 | 504.36 | 215.47 | 233.68 | 190.34 | 17.22 | 278.67 | 754.11 | 12,011.98 |
Q3 2020 | 6,927.16 | 2,359.61 | 668.19 | 523.64 | 231.10 | 247.44 | 199.51 | 19.30 | 283.16 | 787.44 | 12,246.56 |
Q4 2020 | 6,990.97 | 2,526.41 | 715.35 | 561.39 | 246.57 | 271.60 | 216.87 | 20.74 | 314.63 | 841.14 | 12,705.67 |
Q1 2021 | 6,971.79 | 2,404.80 | 686.30 | 554.28 | 250.01 | 293.32 | 214.89 | 19.44 | 335.82 | 851.50 | 12,582.14 |
Q2 2021 | 7,070.33 | 2,458.88 | 672.20 | 560.90 | 270.01 | 314.81 | 218.44 | 23.13 | 357.57 | 865.83 | 12,812.12 |
Q3 2021 | 7,087.77 | 2,462.44 | 681.42 | 561.66 | 264.29 | 320.15 | 214.26 | 23.77 | 354.77 | 860.67 | 12,831.20 |
Q4 2021 | 7,087.14 | 2,486.88 | 671.77 | 576.22 | 286.93 | 336.10 | 218.02 | 24.51 | 362.96 | 886.73 | 12,937.27 |
Q1 2022 | 6,868.97 | 2,328.35 | 626.44 | 569.45 | 286.02 | 330.03 | 221.91 | 29.48 | 387.80 | 858.65 | 12,507.09 |
Q2 2022 | 6,645.02 | 2,187.63 | 572.65 | 538.73 | 275.75 | 308.22 | 209.14 | 27.63 | 358.62 | 858.26 | 11,981.65 |
Q3 2022 | 6,426.89 | 2,086.40 | 560.11 | 489.95 | 260.92 | 281.12 | 204.78 | 24.78 | 358.59 | 841.74 | 11,535.29 |
Q4 2022 | 6,460.21 | 2,252.06 | 608.17 | 543.11 | 262.62 | 287.81 | 217.08 | 25.31 | 383.64 | 877.79 | 11,917.81 |
Q1 2023 | 6,630.89 | 2,186.33 | 610.39 | 605.02 | 270.60 | 287.12 | 221.62 | 28.26 | 389.07 | 877.53 | 12,029.03 |
Q2 2023 | 6,641.89 | 2,207.25 | 597.15 | 533.64 | 278.51 | 272.99 | 219.70 | 21.26 | 403.72 | 887.06 | 12,055.26 |
Q3 2023 | 6,497.94 | 2,150.47 | 598.73 | 530.36 | 274.36 | 260.12 | 222.35 | 20.30 | 426.63 | 920.27 | 11,901.53 |
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 190 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of last resort to national governments, and a leading supporter of exchange-rate stability. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Established in July 1944 at the Bretton Woods Conference, primarily according to the ideas of Harry Dexter White and John Maynard Keynes, it started with 29 member countries and the goal of reconstructing the international monetary system after World War II. It now plays a central role in the management of balance of payments difficulties and international financial crises. Through a quota system, countries contribute funds to a pool from which countries can borrow if they experience balance of payments problems. As of 2016, the fund had SDR 477 billion.
Special drawing rights are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund (IMF). SDRs are units of account for the IMF, and not a currency per se. They represent a claim to currency held by IMF member countries for which they may be exchanged. SDRs were created in 1969 to supplement a shortfall of preferred foreign exchange reserve assets, namely gold and U.S. dollars. The ISO 4217 currency code for special drawing rights is XDR and the numeric code is 960.
The economy of Tanzania is a lower-middle income economy that is overwhelmingly dependent on agriculture. Tanzania's economy has been transitioning from a planned economy to a market economy since 1985. Although total GDP has increased since these reforms began, GDP per capita dropped sharply at first, and only exceeded the pre-transition figure in around 2007.
A reserve currency is a foreign currency that is held in significant quantities by central banks or other monetary authorities as part of their foreign exchange reserves. The reserve currency can be used in international transactions, international investments and all aspects of the global economy. It is often considered a hard currency or safe-haven currency.
The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic action that together facilitate international flows of financial capital for purposes of investment and trade financing. Since emerging in the late 19th century during the first modern wave of economic globalization, its evolution is marked by the establishment of central banks, multilateral treaties, and intergovernmental organizations aimed at improving the transparency, regulation, and effectiveness of international markets. In the late 1800s, world migration and communication technology facilitated unprecedented growth in international trade and investment. At the onset of World War I, trade contracted as foreign exchange markets became paralyzed by money market illiquidity. Countries sought to defend against external shocks with protectionist policies and trade virtually halted by 1933, worsening the effects of the global Great Depression until a series of reciprocal trade agreements slowly reduced tariffs worldwide. Efforts to revamp the international monetary system after World War II improved exchange rate stability, fostering record growth in global finance.
The Reserve Bank of India, abbreviated as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. Owned by the Ministry of Finance, Government of India, it is responsible for the control, issue and maintaining supply of the Indian rupee. It also manages the country's main payment systems and works to promote its economic development. Bharatiya Reserve Bank Note Mudran (BRBNM) is a specialised division of RBI through which it prints and mints Indian currency notes (INR) in two of its currency printing presses located in Mysore and Salboni. The RBI, along with the Indian Banks' Association, established the National Payments Corporation of India to promote and regulate the payment and settlement systems in India. Deposit Insurance and Credit Guarantee Corporation was established by RBI as one of its specialized division for the purpose of providing insurance of deposits and guaranteeing of credit facilities to all Indian banks.
Monetary policy is the policy adopted by the monetary authority of a nation to affect monetary and other financial conditions to accomplish broader objectives like high employment and price stability. Further purposes of a monetary policy may be to contribute to economic stability or to maintain predictable exchange rates with other currencies. Today most central banks in developed countries conduct their monetary policy within an inflation targeting framework, whereas the monetary policies of most developing countries' central banks target some kind of a fixed exchange rate system. A third monetary policy strategy, targeting the money supply, was widely followed during the 1980s, but has diminished in popularity since that, though it is still the official strategy in a number of emerging economies.
The foreign exchange market is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world, followed by the credit market.
Foreign exchange reserves are cash and other reserve assets such as gold and silver held by a central bank or other monetary authority that are primarily available to balance payments of the country, influence the foreign exchange rate of its currency, and to maintain confidence in financial markets. Reserves are held in one or more reserve currencies, nowadays mostly the United States dollar and to a lesser extent the euro.
Money creation, or money issuance, is the process by which the money supply of a country, or an economic or monetary region, is increased. In most modern economies, money is created by both central banks and commercial banks. Money issued by central banks is termed reserve deposits and is only available for use by central bank account holders, which are generally large commercial banks and foreign central banks. Central banks can increase the quantity of reserve deposits directly, by engaging in open market operations or quantitative easing. However, the majority of the money supply used by the public for conducting transactions is created by the commercial banking system in the form of bank deposits. Bank loans issued by commercial banks expand the quantity of bank deposits.
The Central Bank of Iran (CBI), also known as Bank Markazi, officially the Central Bank of the Islamic Republic of Iran is the central bank of Iran.
Quantitative easing (QE) is a monetary policy action where a central bank purchases predetermined amounts of government bonds or other financial assets in order to stimulate economic activity. Quantitative easing is a novel form of monetary policy that came into wide application after the financial crisis of 2007–2008. It is used to mitigate an economic recession when inflation is very low or negative, making standard monetary policy ineffective. Quantitative tightening (QT) does the opposite, where for monetary policy reasons, a central bank sells off some portion of its holdings of government bonds or other financial assets.
The foreign exchange reserves of China are the state of foreign exchange reserves held by the People's Republic of China, comprising cash, bank deposits, bonds, and other financial assets denominated in currencies other than China's national currency. As of March 2024, China's foreign exchange reserves totaled US$3.245 trillion, which is the highest foreign exchange reserves of any country.
The Chiang Mai Initiative (CMI) is a multilateral currency swap arrangement among the ten members of the Association of Southeast Asian Nations (ASEAN), the People's Republic of China, Japan, and South Korea. It draws from a foreign exchange reserves pool worth US$120 billion and was launched on 24 March 2010. That pool has been expanded to $240 billion in 2012.
Hyperinflation in Zimbabwe is an ongoing period of currency instability in Zimbabwe which, using Cagan's definition of hyperinflation, began in February 2007. During the height of inflation from 2008 to 2009, it was difficult to measure Zimbabwe's hyperinflation because the government of Zimbabwe stopped filing official inflation statistics. However, Zimbabwe's peak month of inflation is estimated at 79.6 billion percent month-on-month, 89.7 sextillion percent year-on-year in mid-November 2008.
Currency intervention, also known as foreign exchange market intervention or currency manipulation, is a monetary policy operation. It occurs when a government or central bank buys or sells foreign currency in exchange for its own domestic currency, generally with the intention of influencing the exchange rate and trade policy.
The 1991 Indian economic crisis was an economic crisis in India resulting from a balance of payments deficit due to excess reliance on imports and other external factors. India's economic problems started worsening in 1985 as imports swelled, leaving the country in a twin deficit : the Indian trade balance was in deficit at a time when the government was running on a huge fiscal deficit.
In macroeconomics, sterilization is action taken by a country's central bank to counter the effects on the money supply caused by a balance of payments surplus or deficit. This can involve open market operations undertaken by the central bank whose aim is to neutralize the impact of associated foreign exchange operations. The opposite is unsterilized intervention, where monetary authorities have not insulated their country's domestic money supply and internal balance against foreign exchange intervention.
The forex scandal is a 2013 financial scandal that involves the revelation, and subsequent investigation, that banks colluded for at least a decade to manipulate exchange rates on the forex market for their own financial gain. Market regulators in Asia, Switzerland, the United Kingdom, and the United States began to investigate the $4.7 trillion per day foreign exchange market (forex) after Bloomberg News reported in June 2013 that currency dealers said they had been front-running client orders and rigging the foreign exchange benchmark WM/Reuters rates by colluding with counterparts and pushing through trades before and during the 60-second windows when the benchmark rates are set. The behavior occurred daily in the spot foreign-exchange market and went on for at least a decade according to currency traders.
The foreign exchange reserves of India are holdings of cash, bank deposits, bonds, and other financial assets denominated in currencies other than India's national currency, the Indian rupee. The foreign-exchange reserves are managed by the Reserve Bank of India (RBI) for the Indian government, and the main component is foreign currency assets.
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