Source: Investopedia
South Korea's forex reserves are worth over $449 billion, making it the ninth country with the largest forex reserves in the world as of 2022.
Thanks to its massive oil industry, the de facto OPEC leader boasts $451 billion in its forex reserves, the eighth largest in the world.
Hong Kong has forex reserves worth over $504 billion, seventh largest in the world as per 2022 data.
With forex reserves worth over $548 billion, Taiwan has the sixth largest forex reserves in the world. The country has built up its reserves through its export earnings from tech products.
India has forex reserves worth over $588 billion as of now, making it the fifth country with the largest forex reserves. India’s has accumulated forex reserves through its foreign investments and significant foreign portfolio inflows.
With forex reserves worth over $600 billion, Russia has the fourth largest forex reserves in the world.
Switzerland has the third-largest forex reserves in the world, worth about $1 trillion as of 2022. The country has built up its reserves through its large current account surplus and its interventions in the currency markets.
Japan’s forex reserves are the second-highest in the world, worth over $1.37 trillion as of 2022. Japan has accumulated large forex reserves due to its export-oriented economy.
China has the world’s largest forex reserves, worth over $3.4 trillion as of 2022. The country’s reserves have been boosted by its trade surplus, foreign investments, and restrictions on capital outflows.