In Q1 of 2024, USA had $811,811.40 million total foreign exchange reserves, with $232,761.25 million forex reserves and $579,050.15 million gold reserves. Japan bags the second spot in the list of countries with most foreign exchange reserves including gold. In Q1 of 2024, Japan had a total foreign exchange reserves of $1,290,604.98 million. This includes forex reserves of $1,230,377.14 million and gold reserves of $60,227.84 million. China leads the list of top 10 countries with the highest foreign exchange reserves including gold.
India’s Position in Foreign Exchange Reserves
With over $350 billion in foreign reserves, the small nation of Singapore ranks among the world’s top reserve holders in relation to GDP. Reserves provide key support for the Singapore dollar and backstop the country’s status as a global finance hub. Canada holds over $325 billion worth of foreign exchange reserves, representing a slight increase from the prior year.
- The economy of the country is also driven by agriculture and industry.
- Post-WWII surpluses and conversions into bullion built up the “Germany gold reserve 2025” figure.
- An example of a Forex Reserve is the foreign money held by the US Federal Reserve Bank.
- These reserves ensure that it can always convert Hong Kong dollars into U.S. dollars, keeping investor confidence intact.
Japan uses gold as a traditional safe-haven asset to diversify its foreign exchange holdings. The gold provides a layer of security against global financial volatility and uncertainty. The Reserve Bank of India has been consistently adding to its gold stock.
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In second place we find China with +37.128 million and in third place Brazil, 11th at the level of foreing exchange reserves, with a figure of +14.724. The top 15 worldwide also include, for example, Saudi Arabia, Korea, Singapore and Brazil. The top 15 is rounded off by a number of nations that are members of the European Union. A value that even if multiplied by 15 does not reach the figure for China.
Countries With the Largest Forex Reserves, 2024
The Reserve Bank of India frequently buys gold to diversify its large foreign assets. As a top consumer (privately and officially), India’s gold tradition extends from household jewelry to central bank vaults, reinforcing bullion’s unique role in Indian finance. Switzerland’s 1,040 t reflect its historical gold-backed franc policy.
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For a country juggling economic reforms and social demands, these reserves are a crucial safety net, giving policymakers room to manoeuvre in the face of domestic and global pressures. In 2025, a small group of African countries hold the biggest reserve cushions on the continent. Some are oil giants, others are tourism and trade hubs, but all of them play an important role in Africa’s financial stability. These reserves help a country pay for imports, defend its currency, and survive global shocks. The higher the reserves, the more room a government has to manage crises without panicking the markets.
This approach is designed to lower Russia’s reliance on Western financial systems and render its economy increasingly sanction-proof in the future. For instance, through 2025, India’s reserves would fund approximately 11 months of imports, which is good fiscal security for it. Yet India has some issues, such as a current account deficit (importing more than it exports and earning), vast external borrowing, and overreliance on imported energy. The U.S. government also sells Treasury bonds, which are the safest investments in the world. This grants America a privileged position — it can borrow and swap using its own currency.
- In 2025, total foreign exchange reserves in the world are estimated at $12.3 trillion.
- The reserves assist Saudi Arabia in maintaining the stability of its currency, the riyal.
- Asian and Southeast Asian nations dominate foreign currency reserves, accounting for seven of the top 10.
- Unlike most other countries, the U.S. doesn’t need to hold extremely large reserves.
- These funds serve as a financial buffer that enables China to insulate its economy from global crises, currency fluctuations, or political tensions.
- The reserves are handled with care to maintain its managed-float exchange-rate system, that is, the government allows its currency to fluctuate within a managed range rather than completely fixing it.
Turkey rounds out the top 10 nations by gold holdings with 615 t—about 40% of total reserves. Despite selling gold amid currency crises in 2022–2023, Turkey rebought ~75 t in 2024, indicating a continuing reliance on bullion to buttress the lira and cover shortfalls. Russia’s ~2,336 t mark a quadruple rise since 2008, as the Kremlin diversifies away from U.S. dollars. While gold is 28.1% of Russia’s reserves (less than Germany’s ratio), it’s still significant—particularly after 2022 sanctions froze many Russian foreign assets. Gold stands in domestic vaults, outside external control, aligning with Russia’s strategy for financial independence. Despite occasional debates on selling bullion to reduce debt, the Banca d’Italia has clung to it, viewing gold as a cornerstone of stability.
Monthly forex reserves in 85 countries and territories worldwide 2025
However, the resilience of the export sector and the continued inflows of capital, has meant that the Swiss Franc has kept appreciating. As a result of this, the SNB has been unable to dispose of its large accumulated foreign exchange reserves since their sale would lead to an even greater appreciation of the currency. Central banks worldwide collectively own about one-fifth of all the gold ever mined.
List Of Top 10 Countries With Highest Foreign Exchange Reserves:
Canada has tapped its reserves at times to temper excessive strength in the Canadian dollar driven by spikes in oil exports or global haven demand. This leaning against currency appreciation prevents damage to Canada’s manufacturing and export competitiveness. Brazil’s reserves additionally provide reassurance about the country’s relative stability amid bouts of political uncertainty. Robust reserves should support higher sovereign credit ratings for Brazil going forward. South Korea should remain capable of expanding reserves in the future given its strong export industries, trade account surplus, and attraction for foreign investment capital. Reserves also allow South Korea to secure ample imported raw materials and energy.
Maintaining foreign currency reserves is vital to the economic health of a nation. The 10 nations with the largest foreign currency reserves had combined reserve assets of approximately $9.2 trillion as of November 2024, about 45% of which was accounted for by China and Hong Kong. A country might draw down its foreign reserves if it needs to sell them in order to stabilize its currency or prop up its economy, especially if the domestic currency falters. Foreign currencies are not the only reserves at a government’s disposal. These reserves play a vital role in supporting the Indian rupee (INR), managing inflation, and ensuring economic resilience.
Switzerland has the highest forex reserves volatility (standard deviation) Japan outranked ROK by almost two-thirds in foreign exchange reserves Interestingly, the Hong Kong Special Administrative Region (HKSAR) held a significantly smaller level of foreign exchange reserves ($400,522,000,000), which is 87% less than the People’s Republic of China. top 10 foreign reserve country The People’s Republic of China (PRC) held $3.19 trillion USD in forex reserves Central banks hold approximately 20% of all mined gold, reflecting its significance in maintaining financial security and liquidity. They typically consist of gold bullion and coins that are officially owned by the state.