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The World’s Richest Countries in Terms of Foreign-Exchange Reserves

A country’s daily operation needs to be smooth to keep their citizens happy and the economy healthy. One of the best ways to keep a country stable is by having a sufficient amount of foreign-exchange reserves. The reserves are foreign currencies that are held by a country’s central bank and monetary authorities.

The foreign exchange reserves can come in many currencies but the most common is the dollar and the euro. Basically, it is the financial assets of the country’s central bank that is used to bolster economic activity by being a means to pay external debt, purchase imports that are essential in a country such as crude oil and food, and influence exchange rate in the forex market.

Having a sizeable amount of foreign-exchange reserve is a sign of a stable economy. The more you have, the better you can weather market volatility and in extreme cases, currency crisis. In this article, we’ve listed the countries with the biggest foreign-exchange reserves. The data comes from the International Monetary Fund (IMF) and presented by Trading Economics.

These are significant details that traders ought to know in order to properly gauge a country’s capacity. This way, they are able to analyze a country, its currency, its economy, and the companies in it.

Foreign Exchange Reserves

1. China  - 3005000.00

2. Japan - 1232340.00

3. Russia - 397334.00

4. South Korea - 373910.00

5. Brazil - 368981.00

6. India - 366780.00

7. Euro Area - 342359.00

8. Germany - 184666.00

9. Mexico - 176688.00

10. United Kingdom - 142259.32

11. Italy - 136192.90

12. Indonesia - 119863.00

13. United States - 119183.00

14. Canada - 82091.00

15. Australia - 66800.00

16. Spain - 61006.15

 

17. France - 165.92

China remains to have the world’s biggest foreign-exchange reserves. It is so big that it surpasses the second holder of the biggest foreign-exchange reserves by more than twice its size. If you observe, most of the countries listed here are powerhouses of the economy and first-world economies. As indicated, it is crucial that any country keep their foreign-exchange reserves healthy to keep their economy running.

Created by : Carol
Published : 23 Mar 2017

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