The top 10 Arab and international countries with foreign exchange reserves – Foreign Exchange Reserves are known as foreign currency denominated assets held by the Central Bank. Foreign exchange in US dollars because it is the most traded currency in the world. Among the other currencies that are sometimes held in foreign exchange reserves, according to the “Word in Biolation Review” platform, the following: Euro (EUR) Japanese yen (JPY) The Sterling (GBP) Chinese Yuan (CNY) These reserves are used to support commitments and influence on monetary policy, most of which are kept in US dollars, according to Investopedia platform. Among other cash and assets held by central banks and other financial institutions such as the International Monetary Fund, according to the World Economic Forum, according to the CITY INDEX, an institution that provides financial services. China is the world’s largest foreign exchange reserves. $3.73 trillion in December 2024, according to the Statista platform. The importance of foreign exchange reserves and why do countries resort to them? City Index listed 7 main reasons why central banks have foreign currency reserves: 1- Helping to maintain the value of the local currency at a fixed price. For example, China connects the value of the yuan to the dollar. By storing dollars, Beijing raises the value of the dollar against the yuan, and thus increases sales by making Chinese exports cheaper than manufactured goods in the United States. 2- Maintaining the value of the local currency is less than the value of the dollar. Japan, which implements the floating exchange rate system, buys US Treasuries or government bonds, to keep the yen’s value lower than the dollar. This again helps to keep its exports relatively cheaper. 3- Maintaining liquidity. In the event of an economic crisis, the Central Bank can intervene and replace its foreign currency with the locality to ensure that companies are able to continue importing and exporting competitively. 4- Fulfilling the international financial obligations of the state. This may include debt repayment, import financing, and the absorption of sudden capital movements. 5- Financing internal projects. 6- Reassuring foreign investors. Wars or internal turmoil may scare the investors who are looking to move their money abroad. Keeping foreign exchange reserves could create an atmosphere of confidence and calm investors’ fears. 7- Diversification of investment portfolios. By keeping different currencies and assets as a reserve, the Central Bank can provide protection in the event of an investment decline. The top 10 countries have foreign exchange reserves in 2024, and the following is a list of the 10 largest foreign exchange reserves, denominated in US dollars during 2024, according to Statista and Trading Economics in addition to the central banks in these countries. The US foreign exchange reserves amounted to $36.3 billion last October, according to the CIS IS Data and $35.8 billion last November, according to Trading Economics 2024. Less than other countries in the top ten. But America remains the largest gold reserves in the world 1- China Reserves: $3.7 trillion, foreign exchange reserves, with 3.73 trillion dollars, as of December 2024, according to the Statista platform. It rose from 3.266 trillion in November 2024 and last October, the yuan fell 1.8% against the dollar, while the latter was boosted by 1.8% against a basket of other major currencies. Meanwhile, China’s gold reserves rose to 72.96 million “A Troy Ounce”, after it remained stable at 72.80 million ounces, recounting the previous six months. However, its value fell to $193.43 billion from $199.06 billion in October 2024, in line with the decline in gold prices, according to the “Trading Economics” platform, which was based on the People’s Bank of China. An ounce of Trojan (equal to 0.031 kilograms) is a weight system used for precious metals and precious stones, and is based on a pound of 12 ounces instead of the traditional pound, which is 16 ounces. 2- Japan Reserves: $1.24 trillion in foreign exchange reserves increased by $49 million, reaching a total of 1.24 trillion in November 2024. 5.53 trillion yen ($35 billion) spent last July on “Foreign Exchange Interventions” with the aim of supporting the yen, according to Trading Economics and based on The Ministry’s data itself. 3- Spain: Reserves: $1.07 trillion, foreign exchange reserves rose to $1.07 trillion in November, from $1.045 trillion – in October 2024. According to Trading Economics and based on the Bank of Spain. 4- Switzerland Reserves: $801 billion in foreign exchange reserves of the National Bank of Switzerland to 724.5 billion francs ($801 billion) in November 2024, the highest level since June 2023. 5- India Reserves: $640 billion in foreign exchange reserves held by the Indian Reserve Bank, to the equivalent of $640 billion in the last week of 2024, the lowest level since last April. The decline extends from a record high of $704.9 billion in the last week of September 2024, according to Trading Economy, based on the Reserve Bank of India. 6- Russia Reserves: $616.5 billion in foreign exchange reserves to $616.5 billion in November 2024 from $631.6 billion in October 2024, according to the latest data available. Russia’s foreign exchange reserves averaged $313.5 billion from 1992 to 2024, and reached an all-time high of $633.7 billion in September, according to Tradendg Economics. Russian Central Bank. 7- Taiwan Reserves: $576.7 billion in foreign exchange reserves to $576.68 billion in December 2024, falling from $577.97 billion in the previous month. This was affected by the revenues of Taiwan’s foreign exchange reserves, and other reserve exchange rate movements against the dollar. In addition, the Central Bank to reduce volatile capital flows to maintain an organized foreign exchange market, according to Trading Economics, based on the Central Bank. 8- Saudi Arabia Reserves: $449 billion in foreign exchange reserves to 1.688 trillion riyals (about $449 billion) in November from 1.63 trillion riyals ($434 billion) the month that He was preceded by the Central Bank of Saudi Arabia. 9- Hong Kong Reserves: $425.1 billion, foreign exchange reserves rose to $425.1 billion in November 2024, the highest level since last February, from its 3-month lowest level. $421.3 billion the previous month. This represents more than 5 times the currency in circulation, or about 39% of the Hong Kong dollar, according to Trading Economics and based on the Hong Kong Monetary Authority. 10- South Korea Reserves: $415.6 billion in foreign exchange reserves to $415.6 billion in December 2024 from $415.4 billion in the previous November, according to Trading Economics and based on the Central Bank of South Korea. The 10 largest Arab countries with foreign exchange reserves in 2024, the following is a list of the 10 largest Arab countries with foreign exchange reserves in 2024, depending on the central banks, the Trading Economics and the IMF platform. international and other sources. 1- Saudi Arabia Reserves: $499 billion in foreign exchange reserves to 1.688 trillion riyals (about $449 billion) in November from 1.63 trillion riyals ($434 billion) in the month that Preceded by the Central Bank of Saudi Arabia. 2- Emirates Reserves: $210 billion, the official foreign currency reserves are about $210 billion, according to the Central Bank data. The central foreign assets of the Central Bank exceeded the barrier of 770 billion dirhams ($209.6 billion) by the end of last June, for the first time in the history of the UAE, according to the bank’s latest statistics, as reported by the local news agency. 3- Iraq Reserves: $106.7 billion. Foreign exchange reserves fell to 139.68 trillion dinars (the local currency in Iraq (about $106.7 billion) in October of 143 trillion dinars ($109 billion) in September 2024 According to Trading Economist 4- Libya: Reserves: $80 billion in Libya’s foreign exchange reserves, about $80 billion as of January 2024, according to the data of the International Monetary Fund, according to the “Libyan Gate” Bank of Africa (Afrixim), Libya maintained a massive foreign exchange reserve of $80.7 billion in 2024. 5- Algeria Reserves: $72 billion, Minister of Finance recently announced to Aziz Al-Fayed that foreign exchange reserves have risen. By 4.4% in 2024 to $72 billion, from $69 billion by the end of 2023, and 61 billion at the end of 2022. The foreign exchange reserves outside gold continued to rise this year, with an estimated 2.8 billion dollar surplus of the trade balance expected to be closed this year, equivalent to 1.1% of the gross domestic product, which amounted to 267 billion last year. News agencies. 6- Qatar Reserves: $69 billion QC announced an increase in international reserves and foreign currency liquidity by 5.05% in November 2024 to reach 254.74 billion riyals (about $69 billion) compared to 244.81 billion riyals (about 66 billion dollars) in November 2023, as stated in a statement carried by the Qatar News Agency. 7- Egypt Reserves: $47.1 billion The Central Bank of Egypt said that net foreign reserves rose to $47.1 billion at the end of December 2024, compared to about $46.95 billion at the end of November. 2024. 8- Kuwait Reserves: $41 billion A monthly bulletin issued by the Central Bank of Kuwait revealed an increase in the foreign exchange reserve balance at the end of November 2024, to reach about 12.65 billion dinars (about 41 billion dollars), compared to With its balance at the end of October 2024, which amounted to 12.52 billion dinars ($40.6 billion), an increase of 1%, and a value of 127 million dinars, according to the local news newspaper. 9- Morocco Reserves: $32.8 billion in foreign exchange reserves to $32.8 billion in November 2024. Morocco’s reserves reached an all-time high of $35.3 billion in July 2021 and a record low of $7.9 billion in January 2002, according to the “CEIC Data” platform. 10- Jordan Reserves: $21 billion in the Kingdom’s foreign exchange reserves by $21.1 billion, the first 11 months of 2024, a significant increase now enough to cover 8.4 months of Jordan’s imports. of goods and services. The Central Bank emphasized that this reserve amount is the highest in the country’s history, which represents a remarkable achievement for financial stability.
