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.