Top 9 Countries With Soaring Global Forex Reserves
9. South Korea
South Korea secures the ninth position, boasting forex reserves exceeding $449 billion, highlighting its robust economic standing.
8. Saudi Arabia
Fueled by its substantial oil industry, Saudi Arabia claims the eighth spot with a formidable $451 billion in forex reserves.
7. Hong Kong
Hong Kong holds the seventh-largest forex reserves globally, surpassing $504 billion in 2022, indicative of its economic resilience.
6. Taiwan
Taiwan clinches the sixth position with forex reserves surpassing $548 billion, attributed to earnings from its tech product exports.
5. India
Positioned fifth, India commands forex reserves exceeding $588 billion, a testament to its foreign investments and substantial portfolio inflows.
4. Russia
Russia secures the fourth position globally with formidable forex reserves exceeding $600 billion.
3. Switzerland
Switzerland claims the third spot with forex reserves surpassing $1 trillion, bolstered by a substantial current account surplus and active currency market interventions.
2. Japan
Japan emerges as the second-highest holder of forex reserves globally, with an impressive $1.37 trillion, attributed to its export-focused economic model.
1. China
Leading the global rankings, China boasts the largest forex reserves, exceeding a staggering $3.4 trillion in 2022. Driven by trade surpluses, foreign investments, and stringent capital outflow controls, Chinas financial prowess stands unrivaled.