Foreign Exchange Reserves by Country (2025 Rankings)

Foreign exchange reserves by country in 2025 provide a critical measure of a nation’s financial stability and economic strength. These reserves, which include foreign currencies, gold, and other liquid assets, serve as a financial buffer for governments to stabilize their currencies, pay off international debts, and manage economic crises. In 2025, global forex reserves play a pivotal role in shaping global trade, financial markets, and monetary policies.

What Are Foreign Exchange Reserves?

Foreign exchange reserves refer to the total foreign assets held by a country’s central bank. These reserves include a mix of foreign currencies (like the US dollar, euro, yen), gold, and Special Drawing Rights (SDRs). They are primarily used to stabilize a country’s currency, pay international obligations, and manage economic crises. This data includes total forex reserves (including gold).

As of 2025, the total global foreign exchange reserves are estimated to be around $12.3 trillion, reflecting the critical role these reserves play in global finance. This figure has fluctuated over the years due to economic challenges, geopolitical tensions, and currency market interventions by central banks.

Top 10 Countries with the Largest Foreign Exchange Reserves

China leads the world by a wide margin, with $3.57 trillion in foreign exchange reserves. This vast reserve base allows China to manage its currency, the yuan (CNY), maintain trade stability, and influence global financial markets. The People’s Bank of China (PBOC) holds these reserves primarily in US dollars, along with significant amounts of euros, yen, and gold.

Japan, with $1.23 trillion, ranks second globally. Despite a declining population and slow economic growth, Japan’s substantial forex reserves provide stability to the yen (JPY) and support its export-driven economy. Switzerland comes in third with $952.6 billion, reflecting its role as a global financial hub and safe-haven for capital.

India ranks fourth, holding $686.1 billion in forex reserves. These reserves play a vital role in supporting the Indian rupee (INR), managing inflation, and ensuring economic resilience. Russia, at fifth, holds $620.8 billion, significantly reduced due to economic sanctions and geopolitical pressures, yet remains one of the world’s largest reserve holders.

Taiwan maintains $576.8 billion in reserves, supporting its robust export sector. Saudi Arabia holds $434.5 billion, reflecting its dependence on oil exports. Hong Kong and South Korea follow, both benefiting from strong trade economies, while Brazil rounds out the top 10 with $388.5 billion, reflecting its diversified economy and commodity exports.

Foreign Exchange Reserves by Country

Outside the top 10, several other countries maintain significant reserves. For instance, Singapore with $383.7 billion, Germany with $345.3 billion, and Italy with $279.6 billion are notable players. The United States, despite its economic power, holds $243.6 billion, reflecting its unique position as the issuer of the world’s primary reserve currency, the US dollar.

Global Foreign Exchange Reserves Over Time (Historical Trends)

Total global foreign exchange reserves have experienced significant growth and fluctuation over the decades:

• 1995: $1.4 trillion
• 2000: $1.8 trillion
• 2010: $8 trillion
• 2020: $12.5 trillion
• 2025: $12.3 trillion

After peaking at $13 trillion in 2021, global reserves have seen a slight decline, reflecting a period of economic turbulence, shifting trade balances, and adjustments in central bank strategies.

As the global economy continues to evolve, foreign exchange reserves remain a critical component of financial stability, providing countries with the tools needed to navigate economic uncertainties and maintain monetary independence.

Related Articles

• Gold Reserves by Country 2025
• Average Wealth per Adult by Country 2025
• GDP Nominal by Country 2025
• GDP Per Capita by Country 2025

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Sources

• World Bank Data – Total reserves (includes gold, current US$)
• Wikipedia – List of countries by foreign-exchange reserves