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Forex Reserves (Million USD)

$0

$500K

$1M

$1.5M

$2M

$2.5M

$3M

$3.5M

Click on a country for details.

Forex Reserves by Country 2024

Foreign exchange reserves (also called Forex Reserves) are assets that are held on reserve by a central bank. These assets are typically held in foreign currencies. The purpose of Forex Reserves is to influence monetary policy and back liabilities. Forex reserves can also be used for trading with other countries. An example of a Forex Reserve is the foreign money held by the US Federal Reserve Bank. Forex reserves may include foreign currencies, treasury bills, bonds and other government securities.

How Do Foreign Exchange Reserves Work?

Forex reserves can include banknotes, treasury bills and other forms of government securities. The purpose of hold foreign exchange reserves in a foreign currency is to ensure that a country's government has money to rely on if something should happen to their national currency. If their national currency becomes insolvent or rapidly devalues, that country still has assets that can be used for necessary purchases, trading with other governments and so on.

Which Countries Have the Highest Forex Reserves?

Below are the 10 countries with the highest Forex Reserves:

Country
Forex Reserves
China$3.38 Mn
Japan$1.25 Mn
Switzerland$898,588
India$594,888
Russia$579,500
Taiwan$566,490
Saudi Arabia$443,261
South Korea$421,454
Hong Kong$417,283
Brazil$343,620

What Type of Currency Is Most Often Used for Forex Reserves?

Typically, countries hold their Forex reserves in the US dollar, because it is the most commonly traded currency in the world. Other currencies that Forex reserves are sometimes held in include: the euro (EUR), Japanese yen (JPY), British pound (GBP), and the Chinese yuan (CNY).

Which Country Has the Largest Forex Reserve?

China holds the largest foreign currency reserve in the world. Most of these reserves are held in US dollars. This makes trading with other countries easier, because most of the trading that China conducts takes place using US dollars.

  • Countries whose dates gave a year but not a month were assigned the placeholder month of January.

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Country
Forex Reserves (Million USD)
Figures Date
China$3.38 MnJune 2023
Japan$1.25 MnJuly 2023
Switzerland$898,588June 2023
India$594,888August 2023
Russia$579,500August 2023
Taiwan$566,490July 2023
Saudi Arabia$443,261June 2023
South Korea$421,454June 2023
Hong Kong$417,283June 2023
Brazil$343,620June 2023
Singapore$331,188June 2023
Germany$305,140June 2023
United States$242,731March 2023
France$238,277October 2022
Italy$234,034June 2023
Thailand$221,374July 2023
Mexico$204,130July 2023
Israel$201,895April 2023
United Kingdom$182,790November 2022
Poland$180,700June 2023
United Arab Emirates$151,600June 2023
Czech Republic$142,989July 2023
Indonesia$124,200June 2023
Iraq$115,000February 2023
Malaysia$112,900July 2023
Turkey$108,580June 2023
Canada$106,462November 2022
Philippines$99,951July 2023
Vietnam$92,101August 2022
Spain$87,229June 2022
Iran$86,000February 2020
Denmark$73,922May 2022
Peru$73,416June 2022
Norway$70,287June 2022
Libya$69,114March 2022
Algeria$66,140March 2023
Romania$66,045July 2023
Qatar$65,671August 2023
South Africa$61,296May 2023
Colombia$58,161September 2021
Australia$57,889December 2022
Sweden$54,020March 2021
Netherlands$54,016May 2021
Chile$42,593April 2021
Ukraine$41,719August 2023
Nigeria$40,660December 2021
Hungary$36,593April 2021
Kazakhstan$35,438November 2021
Uzbekistan$35,139January 2022
Bulgaria$32,881April 2021
Egypt$32,149December 2022
Belgium$31,762April 2021
Portugal$29,050April 2021
Austria$28,513April 2021
Croatia$28,416January 2022
Morocco$27,800October 2021
Macau$25,849April 2021
Argentina$24,092July 2023
Bangladesh$23,374July 2023
Turkmenistan$20,600February 2017
Cambodia$19,500July 2021
Jordan$19,044December 2021
Guatemala$18,807April 2021
Serbia$18,560December 2021
Oman$18,000December 2021
Uruguay$16,952December 2021
Finland$16,552January 2022
Angola$15,400January 2022
New Zealand$14,544December 2021
Dominican Republic$12,611June 2021
Ghana$11,403September 2021
Greece$10,895February 2021
Nepal$10,100June 2023
Afghanistan$9,446February 2021
Paraguay$9,200July 2023
Lebanon$8,600August 2023
Bosnia and Herzegovina$8,400May 2023
Ecuador$8,130November 2021
Slovakia$8,100May 2021
North Korea$8,000October 2013
Pakistan$7,930August 2023
Honduras$7,871June 2023
Azerbaijan$7,689March 2021
Mauritius$7,461April 2021
Tunisia$7,300April 2023
Belarus$7,277April 2021
Trinidad and Tobago$7,000August 2021
Iceland$6,860April 2021
Costa Rica$6,814November 2021
Tanzania$6,714November 2021
Myanmar$6,700January 2019
Venezuela$5,908November 2021
Panama$5,800May 2023
Ireland$5,700June 2023
Latvia$5,404April 2021
Georgia$5,100January 2023
Botswana$5,080February 2021
Moldova$4,868May 2023
Lithuania$4,848December 2020
Cuba$4,847March 2020
Ivory Coast$4,688November 2017
Albania$4,345November 2021
Vatican City$4,339April 2023
Jamaica$4,208May 2023
Armenia$4,100December 2022
Uganda$4,075June 2023
Ethiopia$3,993January 2019
Sri Lanka$3,762July 2023
Mongolia$3,697September 2020
Andorra$3,689April 2023
Brunei$3,664February 2021
Bolivia$3,538February 2023
Cameroon$3,459January 2018
Bahrain$3,415February 2020
Kyrgyzstan$2,910September 2021
Nicaragua$2,680February 2023
El Salvador$2,510April 2021
Papua New Guinea$2,339January 2019
Haiti$2,296January 2023
Estonia$2,216October 2020
Namibia$1,924September 2020
Bahamas$1,758January 2019
Kenya$1,690October 2022
Madagascar$1,593January 2019
Montenegro$1,529January 2019
Mauritania$1,493January 2020
Tajikistan$1,466January 2019
Rwanda$1,465January 2019
Zambia$1,449January 2019
Guinea$1,418January 2019
Gabon$1,321January 2019
Cyprus$1,271August 2020
Slovenia$1,217October 2020
Luxembourg$1,191December 2020
Laos$1,068January 2019
Curacao$1,055October 2019
Fiji$1,043January 2019
Niger$1,039January 2015
Aruba$982January 2019
Bhutan$970July 2022
Malta$928October 2020
Lesotho$774January 2019
Barbados$772January 2019
Maldives$762January 2018
Cape Verde$737January 2019
Gambia$692January 2018
Palestine$683August 2019
DR Congo$665January 2018
Timor Leste$656January 2019
Suriname$647January 2019
Mali$624January 2015
Guyana$573January 2019
Solomon Islands$571January 2019
Seychelles$566September 2020
Sierra Leone$532January 2019
Vanuatu$511January 2019
Djibouti$501January 2019
San Marino$473January 2019
Malawi$471October 2021
Eswatini$440January 2019
Republic of the Congo$423January 2018
Syria$407December 2017
Micronesia$397January 2019
Central African Republic$361January 2018
Saint Kitts and Nevis$351January 2018
Liberia$349January 2019
Guinea Bissau$332January 2015
Antigua and Barbuda$279January 2019
Belize$277January 2019
Saint Lucia$260January 2019
Yemen$245December 2017
Grenada$236January 2019
Tonga$229January 2019
Togo$215December 2017
Comoros$202January 2019
Saint Vincent and the Grenadines$193January 2019
Eritrea$191January 2019
Samoa$185January 2019
Sao Tome and Principe$184January 2020
Sudan$177January 2017
Dominica$166January 2019
Senegal$152December 2017
Zimbabwe$151January 2019
Chad$147January 2018
Burundi$111January 2019
South Sudan$73January 2022
Benin$60December 2017
Montserrat$49December 2017
Burkina Faso$45December 2017
Somalia$32December 2017
Kiribati$6January 2020
KuwaitMay 2022
showing: 192 rows

Which country has the most Forex reserves?

China has over $3.4 trillion, the world's largest Forex reserve. The surplus includes trade, foreign investment, and capital restrictions.

Frequently Asked Questions

Sources