Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Top 25 Countries with Highest Foreign Currency Reserves in the World

Do you know which are the countries with highest foreign currency reserves in the world? Let’s find out together.

We will assume that not many of you are familiar with the term. So, in order to understand our main topic, we will first tell what foreign reserves of one country are, and can we rank international reserves by country. International reserves are any kind of reserve funds that pass between the central banks of different countries in the world as an acceptable form of payment. The reserves can either be gold or some else specific currency, like dollar or euro.

Another term for foreign currency reserves is foreign-exchange reserves or forex reserves. They can also be used to pay its liabilities if necessary, and they are held either in one or more reserve currencies. COFER is a database that is managed by the International Monetary Fund’s Statistics Department, and it contains data of reporting countries. They identified eight most frequent foreign currencies: U.S. dollar, euro, Chinese renminbi, Japanese yen, pound sterling, Australian dollar, Canadian dollar, and Swiss franc. All other currencies are considered to be “other currencies.” COFER data are reported to the IMF on a voluntary and confidential basis in order to safeguard individual country information. However, 146 countries confined their foreign reserves information with COFER.

Top 25 Countries with Highest Foreign Currency Reserves in the World

Gods_Kings/Shutterstock.com

While doing our research, we came upon many lists of countries with foreign currency reserves that are not very clear or backed up with a proper source. But then we found out about CEIC – Euromoney Institutional Investor Company. It was founded in 1992 by a team of expert economists and analysts. Now, they provide one of the most expansive and accurate data insights into more than 195 economies in the world. So, our choice was clear! The CEIC offered the most recent data when it comes to the world’s forex reserves in 2017. As the USD mn data is updated monthly, we just wanted to emphasize that we used data for November 2017, as it was the last data we could find for all the countries on the list below. Moreover, so that you have a broader perception of how fast and drastically these things change, we compared for each country its forex reserves for the years 2011 and 2012, derived from the Global Finance’s data which are based on the IMF and World Bank reports. Also, we wrote few lines for each country and compared mentioned data. We made the ranking according to the CEIC source, as the information is the most recent. Forex reserves for each country are expressed in US dollars.

So, you may be wondering if you are going to read about Pakistan’s forex reserves, Saudi Arabian or Japan’s foreign reserves? I will say no, yes and yes, but nothing else. You are not going to read about US either, since the country has $42,567.00 in forex reserves what wasn’t enough for our list. Nevertheless, below are countries with highest foreign currency reserves in the world, and some of them are the definitely of the list of top 25 richest, healthiest, and most advanced countries in the world, as well! If you are interested in the list of countries by gold reserves, check out 25 Countries with Largest Private and Public Gold Reserves.

For now, let’s stick to our topic and check out the results of our research. Simply click on Next and start reading about foreign currency reserves in 25 different countries!

25. Norway

Foreign currency reserves: $64,249.3

In October 2012 IMF noted that this country had $55,310.0 in forex reserves. Now, the situation drastically changed as you can see by yourselves.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...