List of countries by foreign-exchange reserves

Created by WikiDwarf
Last edited July 25, 2023

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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.Template:Citation needed

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 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 curruency. Some nations are converting foreign-exchange reserves into sovereign wealth funds, which can rival foreign-exchange reserves in size.Template:Citation needed

The list below is mostly based on the latest available IMF data, and while most nations report in U.S. dollars, a few nations in Eastern Europe report solely in Euros and some others report in their respective currencies. And since all the figures below are in U.S dollar equivalents, exchange rate fluctuations can have a significant impact on these figures.

Template:Table alignment

Rank
Template:Efn
Country or region Foreign
exchange
reserves
(millions US$)
Figures as of Change from
previous data
(millions US$)
weekly/monthly
Template:Tooltip
1 Template:Steady Template:China 3,371,823 Template:Dts Template:Decrease 28,957 [1]
2 Template:Steady Template:JAP 1,254,522 Template:Dts Template:Decrease 10,892 [2]
3 Template:Steady Template:CHE 898,006 Template:Dts Template:Decrease 14,235 [3]
4 Template:Steady Template:IND 609,022 14 July 2023 Template:Increase 12,743 [4]Template:Efn[5]
5 Template:Steady Template:RUS 594,400 14 July 2023 Template:Increase 11,300 [6]Template:Efn
6 Template:Steady Template:TWN 562,870 Template:Dts Template:Increase 1,750 [7]Template:Efn
7 Template:Increase Template:KOR 421,454 Template:Dts Template:Increase 471 [8]
8 Template:Decrease Template:HKG 421,007 Template:Dts Template:Decrease 9,693 [9]
9 Template:Decrease Template:SAU 404,470 Template:Dts Template:Decrease 33,292 [10]Template:Efn
10 Template:Steady Template:BRA 341,158 Template:Dts Template:Increase 13,060 [11]
11 Template:Steady Template:SGP 289,484 Template:Dts Template:Decrease 1,790 [12]
12 Template:Steady Template:DEU 277,458 Template:Dts Template:Increase 3,037 [13][14]Template:Efn
13 Template:Steady Template:USA 242,731 Template:Dts Template:Increase 0,860 [15]Template:Efn
14 Template:Steady Template:FRA 238,277 Template:Dts Template:Increase 0,948 [16]
15 Template:Increase Template:THA 225,486 Template:Dts Template:Increase 8,854 [17]
16 Template:Decrease Template:ITA 211,308 Template:Dts Template:Increase 1,932 [18][13][19] Template:Efn
17 Template:Increase Template:MEX 204,130 Template:Dts Template:Increase 1,059 [20][21]
18 Template:Steady Template:ISR 201,895 Template:Dts Template:Increase 1,409 [22]
19 Template:Steady Template:UK 182,790 Template:Dts Template:Increase 6,686 [23][24]Template:Efn
20 Template:Increase Template:POL 180,700 Template:Dts Template:Increase 5,321 [25]
21 Template:Increase Template:CZE 140,659 Template:Dts Template:Increase 5,481 [26]
22 Template:Steady Template:IDN 140,311 Template:Dts Template:Increase 0,907 [13][27]
23 Template:Increase Template:ARE 115,725 Template:Dts Template:Decrease 3,540 [28]Template:Efn
24 Template:Increase Template:IRQ 115,000 Template:Dts Template:Increase 19,000 [29]
25 Template:Decrease Template:MYS 111,400 Template:Dts Template:Decrease 1,500 [30]
26 Template:Decrease Template:CAN 106,462 Template:Dts Template:Increase 2,686 [31]
27 Template:Steady Template:PHL 101,296 Template:Dts Template:Decrease 464 [32]
28 Template:Decrease Template:TUR 97,080 Template:Dts Template:Decrease 17,797 [33]Template:Efn
29 Template:Decrease Template:VNM 92,101 Template:Dts Template:Decrease 6,504 [34]
30 Template:Decrease Template:ESP 87,229 Template:Dts [35][13]
31 Template:Steady Template:IRN 86,000 Template:Dts [36]Template:Efn
Template:N/a Template:Flag (ECB) 85,602 Template:Dts Template:Increase 0,801 [37]Template:Efn
32 Template:Increase Template:DNK 73,922 Template:Dts Template:Decrease 0,315 [13][38]
33 Template:Decrease Template:PER 73,416 Template:Dts Template:Increase 3,000 [39][40]
34 Template:Decrease Template:NOR 70,287 Template:Dts Template:Decrease 2,843 [41][13]
35 Template:Increase Template:LBY 69,114 Template:Dts Template:Decrease 0,665 [42][34]
36 Template:Increase Template:ALG 66,140 Template:Dts Template:Increase 5,150 [43][44][34]
37 Template:Steady Template:ROU 64,298 Template:Dts Template:Increase 1,063 [45][46]
38 Template:Steady Template:ZAF 61,296 Template:Dts Template:Decrease 424 [47][34]
39 Template:Steady Template:COL 58,161 Template:Dts Template:Increase 0,124 [13]
40 Template:Increase Template:AUS 57,889 Template:Dts Template:Increase 2,226 [48]
41 Template:Steady Template:SWE 54,020 Template:Dts Template:Decrease 1,345 [49]Template:Efn
42 Template:Steady Template:NLD 54,016 Template:Dts Template:Increase 2,677 [13][50]
43 Template:Steady Template:KUW 48,895 Template:Dts Template:Increase 2,040 [51]Template:Efn
44 Template:Steady Template:CHL 42,593 Template:Dts Template:Increase 2,373 [13]
45 Template:Increase Template:QAT 42,341 Template:Dts Template:Increase 1,305 [52]
46 Template:Increase Template:NGA 40,660 Template:Dts Template:Increase 4,652 [53]
47 Template:Steady Template:UKR 38,999 Template:Dts Template:Increase 1,688 [54]
48 Template:Decrease Template:HUN 36,593 Template:Dts Template:Decrease 0,933 [13][55]
49 Template:Decrease Template:KAZ 35,438 Template:Dts Template:Decrease 0,382 [13]
50 Template:Steady Template:UZB 35,139 Template:Dts Template:Increase 0,390 [56]
51 Template:Decrease Template:BGR 32,881 Template:Dts Template:Decrease 0,748 [13]
52 Template:Steady Template:EGY 32,149 Template:Dts Template:Decrease 453 [57]
53 Template:Steady Template:BEL 31,762 Template:Dts Template:Increase 860 [13]
54 Template:Increase Template:PRT 29,050 Template:Dts Template:Increase 2,391 [13]
55 Template:Steady Template:AUT 28,513 Template:Dts Template:Increase 842 [13]
56 Template:Increase Template:HRV 28,416 Template:Dts Template:Increase 996 [58][59]
57 Template:Decrease Template:ARG 27,926 Template:Dts Template:Decrease 5,075 [60][34]
58 Template:Increase Template:MAR 27,800 Template:Dts Template:Increase 380 [13]
59 Template:Steady Template:MAC 25,849 Template:Dts Template:Increase 819 [61]
60 Template:Decrease Template:BGD 24,753 Template:Dts Template:Decrease 6,449 [62][63]
61 Template:Increase Template:TKM 20,600 Template:Dts [36]
62 Template:Decrease Template:KHM 19,500 Template:Dts Template:Decrease 1,410 [64]
63 Template:Increase Template:JOR 19,044 Template:Dts Template:Increase 987 [13]
64 Template:Steady Template:GTM 18,807 Template:Dts Template:Increase 112 [13]
65 Template:Increase Template:SRB 18,560 Template:Dts Template:Increase 175 [65]
66 Template:Increase Template:OMA 18,000 Template:Dts Template:Increase 778 [66]
67 Template:Increase Template:URY 16,952 Template:Dts Template:Decrease 176 [67]
68 Template:Increase Template:FIN 16,552 Template:Dts Template:Decrease 228 [13][68]
69 Template:Steady Template:ANG 15,400 Template:Dts Template:Increase 391 [69]
70 Template:Steady Template:NZL 14,544 Template:Dts Template:Decrease 1,559 [13]
71 Template:Increase Template:DOM 12,611 Template:Dts Template:Increase 200 [70]
72 Template:Decrease Template:LBN 12,500 Template:Dts Template:Decrease 30,877 [71]
73 Template:Increase Template:GHA 11,403 Template:Dts Template:Increase 2,445 [72]
74 Template:Decrease Template:GRC 10,895 Template:Dts Template:Increase 277 [13]
75 Template:Increase Template:PRY 9,880 Template:Dts Template:Increase 199 [13]
76 Template:Increase Template:PAN 9,613 2020 Template:Increase 5,400 [70]
77 Template:Increase Template:AFG 9,446 Template:Dts Template:Decrease 60 [34]
78 Template:Decrease Template:NPL 10,940 Template:Dts Template:Decrease 570 [73]
79 Template:Increase Template:BIH 9,300 Template:Dts Template:Increase 916 [74]
80 Template:Steady Template:TUN 8,840 Template:Dts Template:Decrease 290 [34]
81 Template:Steady Template:HND 8,462 Template:Dts Template:Increase 320 [75]
82 Template:Increase Template:ECU 8,130 Template:Dts Template:Increase 4,931 [76]
83 Template:Decrease Template:SVK 8,100 Template:Dts Template:Increase 96 [13]
84 Template:Steady Template:PRK 8,000 Template:Dts [77]
85 Template:Increase Template:IRL 7,717 Template:Dts Template:Decrease 3 [78]
86 Template:Increase Template:AZE 7,689 Template:Dts Template:Increase 142 [13]
87 Template:Increase Template:MUS 7,461 Template:Dts Template:Increase 133 [13]
88 Template:Decrease Template:BLR 7,277 Template:Dts Template:Increase 337 [13]
89 Template:Increase Template:TTO 7,000 Template:Dts Template:Increase 644 [79][80]
90 Template:Steady Template:ISL 6,860 Template:Dts Template:Increase 74 [13]
91 Template:Decrease Template:CRI 6,814 Template:Dts Template:Decrease 320 [81]
92 Template:Increase Template:TAN 6,714 Template:Dts Template:Increase 1,600 [82]
93 Template:Steady Template:MMR 6,700 2019 Template:Increase 0,800 [83]
94 Template:Steady Template:VEN 5,908 Template:Dts Template:Decrease 776 [84]
95 Template:Increase Template:LVA 5,404 Template:Dts Template:Increase 80 [13]
96 Template:Increase Template:GEO 5,100 Template:Dts Template:Increase 900 [13]
97 Template:Steady Template:BOT 5,080 Template:Dts Template:Decrease 267 [34]
98 Template:Increase Template:MDA 4,868 Template:Dts Template:Increase 15 [85][86]
99 Template:Steady Template:LTU 4,848 Template:Dts Template:Decrease 440 [13]
100 Template:Decrease Template:CUB 4,847 Template:Dts Template:Decrease 8,391 [70]
101 Template:Increase Template:CIV 4,688 Template:Dts [36]
102 Template:Increase Template:ALB 4,345 Template:Dts Template:Decrease 0,400 [87]
103 Template:Increase Template:VAT 4,339 Template:Dts Template:Increase 0,950 [88]
104 Template:Increase Template:ARM 4,100 Template:Dts Template:Increase 0,600 [89]
105 Template:Increase Template:NIC 4,000 Template:Dts Template:Increase 1,100 [90]
106 Template:Increase Template:ETH 3,993 2019 [83]
107 Template:Increase Template:JAM 3,905 Template:Dts Template:Increase 0,300 [13]
108 Template:Increase Template:UGA 3,888 2019 [83]
109 Template:Increase Template:BOL 3,538 Template:Dts Template:Decrease 0,639 [91]
110 Template:Increase Template:MNG 3,697 Template:Dts Template:Decrease 0,300 [13]
111 Template:Decrease Template:AND 3,689 Template:Dts Template:Increase 11 [92]
112 Template:Steady Template:BRN 3,664 Template:Dts Template:Increase 0,098 [34]
113 Template:Increase Template:LKA 3,483 Template:Dts Template:Increase 1,362 [93]
114 Template:Increase Template:CMR 3,459 2018 [83]
115 Template:Decrease Template:PAK 8,727.2 Template:Dts Template:Increase 5,338.1 [94]
116 Template:Steady Template:BHR 3,415 Template:Dts Template:Citation needed
117 Template:Increase Template:KGZ 2,910 Template:Dts Template:Increase 0,700 [13]
118 Template:Increase Template:SLV 2,510 Template:Dts Template:Increase 0,062 [13]
119 Template:Increase Template:PNG 2,339 2019 Template:Increase 0,500 [83]
120 Template:Decrease Template:HAI 2,296 2023 Template:Decrease1,256 [70]
121Template:Increase Template:EST 2,216 Template:Dts Template:Increase 0,900 [13]
122 Template:Decrease Template:NAM 1,924 Template:Dts Template:Decrease 0,025 [13]
123 Template:Steady Template:BAH 1,758 2019 [83]
124 Template:Decrease Template:KEN 1,690 Template:Dts Template:Decrease 0,073 [95]
125 Template:Steady Template:MAD 1,593 2019 [83]
126 Template:Steady Template:MNE 1,529 2019 [83]
127 Template:MRT 1,493 2020 [83]
128 Template:Steady Template:TJK 1,466 2019 [83]
129 Template:Steady Template:RWA 1,465 2019 [83]
130 Template:Steady Template:ZAM 1,449 2019 [83]
131 Template:Steady Template:GUI 1,418 2019 [83]
132 Template:GAB 1,321 2019 [83]
133 Template:Increase Template:CYP 1,271 Template:Dts Template:Increase 0,200 [13]
134 Template:BTN 970 2022 [83]
135 Template:Increase Template:SVN 1,217 Template:Dts Template:Increase 0,200 [13]
136 Template:LUX 1,191 Template:Dts Template:Decrease 0,034 [13]
137 Template:LAO 1,068 2019 [83]
138 Template:CUW 1,055 Template:Dts [96]Template:Efn
139 Template:FIJ 1,043 2019 [83]
140 Template:NER 1,039 2015 [83]Template:Failed verification
141 Template:ABW 982 2019 [83]
142 Template:KOS 965 2019 [83]
143 Template:Increase Template:MLT 928 Template:Dts Template:Increase 0,030 [13]
144 Template:LES 774 2019 [83]
145 Template:BAR 772 2019 [83]
146 Template:MDV 762 2018 [83]
147 Template:CPV 737 2019 [83]
148 Template:GMB 692 2018 [83]
149 Template:Increase Template:PSE 683 Template:Dts Template:Increase 0,050 [13]Template:Efn
150 Template:COD 665 2018 [83]
151 Template:TLS 656 2019 [83]
152 Template:Increase Template:SUR 647 2019 Template:Increase 0,065 [83]
153 Template:MLI 624 2015 [83]Template:Failed verification
154 Template:Increase Template:GUY 573 2019 Template:Increase 0,050 [83]
155 Template:SLB 571 2019 [83]
156 Template:Increase Template:SYC 566 Template:Dts Template:Increase 0,031 [13]
157 Template:SLE 532 2019 [83]
158 Template:VAN 511 2019 [83]
159 Template:DJI 501 2019 [83]
160 Template:SMR 473 2019 [83]
161 Template:Decrease Template:MWI 471 Template:Dts Template:Decrease 0,350 [97]
162 Template:SWZ 440 2019 [83]
163 Template:COG 423 2018 [83]
164 Template:SYR 407 Template:Dts [36]
165 Template:FSM 397 2019 [83]
166 Template:CAF 361 2018 [83]
167 Template:KNA 351 2018 [83]
168 Template:LBR 349 2019 [83]
169 Template:GNB 332 2015 [83]Template:Failed verification
170 Template:ATG 279 2019 [83]
171 Template:BLZ 277 2019 [83]
172 Template:LCA 260 2019 [83]
173 Template:YEM 245 Template:Dts [36]
174 Template:GRN 236 2019 [83]
175 Template:TON 229 2019 [83]
176 Template:TOG 215 Template:Dts [36]
177 Template:COM 202 2019 [83]
178 Template:VIN 193 2019 [83]
179 Template:ERI 191 2019 [83]
180 Template:SAM 185 2019 [83]
181 Template:STP 184 2020 [83]
182 Template:SDN 177 2017 [83]
183 Template:DMA 166 2019 [83]
184 Template:SEN 152 Template:Dts [36]
185 Template:ZIM 151 2019 [83]
186 Template:CHA 147 2018 [83]
187 Template:BDI 111 2019 [83]
188 Template:SSD 73 2022 [83]
189 Template:BEN 60 Template:Dts [36]
190 Template:MSR 49 Template:Dts [36]
191 Template:GNQ 48 2018 [83]
192 Template:BUR 45 Template:Dts [36]
193 Template:SOM 32 Template:Dts [36]
194 Template:KIR 6 2020 [34]

Timeline of the top 5 countries

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.[98]

The images below shows the timeline of their reserves since the earliest available forex data. The list is in accordance to their respective positions.

China

Foreign Exchange Reserves of China

The foreign-exchange reserves of China are the greatest of all countries and have been so for more than 14 years.[99][100] The main composition of Chinese forex reserves is approximately two-thirds USD and one-fifth Euros with the rest made up of Japanese Yen and the British Pound. China was the second country to reach $500 billion and the first to reach $1 trillion in reserves. China is also the only country that reached net reserves of $2 trillion and $3 trillion. Chinese forex reserve reached over $3.993 trillion and possibly reached $4 trillion before July 2014 but there was no official figures to confirm it.

China began reducing its forex reserves in July 2014 over concerns that the forex reserve level was too high. The practice lasted one and a half years. In January 2017, Chinese forex reserves dipped below $3 trillion briefly and have since remained above that level. Template:Clear

Japan

Foreign Exchange Reserves of Japan

Japanese forex reserves are the second largest in the world. Japan was the first country to reach $500 billion in reserves and had the highest forex reserves in the world until they were surpassed by China in 2006. They have remained in second place since 2006 and above $1 trillion since 2008, being the second country to surpass $1 trillion.[101] Template:Clear

Switzerland

Foreign Exchange Reserves of Switzerland in CHF

Swiss forex reserves are the third largest in the world. Switzerland became the fifth country to reach $500 Billion in 2014 after Saudi Arabia and the third country to reach $1 trillion at the end of 2020. Swiss reserves are compiled in Swiss francs. Since the Financial crisis of 2007-2008, the Swiss franc has significantly appreciated against other currencies due to Switzerland's traditional perceived safety which has attracted speculative foreign capital; due to the inflows of investment income by Swiss firms, and due to the large surplus in the trade of goods. In order to protect the real economy from the sudden speculative appreciation of the currency, the Swiss National Bank began intervening in the currency markets, first with an explicit target of a maximum exchange rate against the euro of 1.20CHF/EUR until 2015,[102] and then through implicit interventions. However, the resilience of the export sector and the continued inflows of capital, has meant that the Swiss Franc has kept appreciating.[103] 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. Template:Clear

India

Foreign Exchange Reserves of India

The Foreign-exchange reserves of India are the world's fourth largest. On 4 June 2021 reserves exceeded $600 billion for the first time and they became the fifth country after Switzerland to do so.[104] During the 1991 Indian economic crisis country only had $5 billion of reserves left which led to subsequent economic liberalisation. Since then the reserves have seen a 127 times increase over 30 years.

Russia

File:Russia forex reserves.png
Foreign Exchange Reserves of Russia

Russian reserves are the world's fifth largest; They have reached a level of $600 billion on 21 May 2021. They were the third country to reach $500 billion.[105] The first fall in reserves was due to the Great Recession, the second fall in 2015 was due to falling oil prices.Template:Clear

Currency composition of foreign exchange reserves

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).[106] Monetary gold is not covered in COFER but included in reserved assets, a broader scope than that of COFER.[107]

Currency Composition of Foreign Exchange Reserves (COFER)
(US Dollars, billions)[106]
No. Currency Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021
1 Template:FlagiconUSD 5,713.35 5,909.13 6,124.73 6,280.61 6,530.87 6,560.78 6,632.15 6,617.84 6,727.09 6,752.28 6,728.85 6,674.83 6,794.91 - - 6,990.97 6,971.79 7,070.33 7,087.77 7,087.14
2 Template:FlagiconEUR 1,703.13 1,847.19 1,933.68 2,019.25 2,117.57 2,129.41 2,192.43 2,219.34 2,208.79 2,264.88 2,212.74 2,279.30 2,197.30 - - 2,526.41 2,404.80 2,458.88 2,462.44 2,486.88
3 Template:FlagiconJPY 399.85 427.79 435.67 491.01 477.28 511.52 532.94 558.36 584.63 611.87 612.75 631.00 624.97 - - 715.35 686.30 672.20 681.42 671.77
4 Template:FlagiconGBP 377.89 409.48 434.08 454.12 486.13 469.86 481.10 475.45 495.70 497.41 492.22 511.51 486.08 - - 561.39 554.28 560.90 561.66 576.22
5 Template:FlagiconRMB 95.42 100.00 108.37 123.47 145.67 192.75 192.38 202.79 212.26 212.80 213.83 215.81 221.48 - - 271.60 293.32 314.81 320.15 336.10
6 Template:FlagiconCAD 167.49 178.77 192.85 202.80 193.29 200.22 208.74 197.76 208.64 209.85 205.44 206.71 195.13 - - 246.57 250.01 270.01 264.29 286.93
7 Template:FlagiconAUD 156.28 162.31 171.22 180.01 176.96 178.61 180.91 174.21 181.95 186.71 182.48 187.18 170.16 - - 216.87 214.89 218.44 214.26 218.02
8 Template:FlagiconCHF 14.45 15.60 16.31 18.09 17.93 17.18 17.18 15.86 15.27 15.53 16.20 17.36 16.05 - - 20.74 19.44 23.13 23.77 24.51
Other currencies 208.28 209.55 228.81 244.69 256.46 254.62 269.60 266.07 263.50 270.56 262.92 281.50 255.53 - - 314.63 335.82 357.57 354.77 362.96
Unallocated Reserves 2,063.28 1,859.04 1,650.32 1,430.36 1,201.40 951.69 692.22 690.55 712.93 715.88 729.40 749.55 770.32 - - 841.14 851.50 865.83 860.67 886.73
Total 10,899.42 11,118.86 11,296.05 11,444.41 11,603.57 11,466.63 11,399.66 11,418.24 11,610.77 11,737.76 11,656.82 11,824.74 11,731.94 - - 12,705.67 12,582.14 12,812.12 12,831.20 12,937.27

See also

Notes

Template:Notelist

References

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