Top 12 Countries with Highest Foreign Exchange Reserves
Bangalore: Foreign Exchange Reserves are one of the most important assets for any nations. Foreign Exchange Reserve is the amount of the currency deposits of the foreign nation in the monetary authority of a nation.
India’s financial condition is getting stronger as compared to earlier. Currently, India stands on the tenth rank in the list of the countries with top most foreign exchange reserves. The list of the top twelve nations as reported by ‘Rediff’, with the maximum Foreign Exchange Reserves is given below.
Foreign exchange reserves: $3.31 trillion
China is the not only the most populated nation in the world; it is also the second largest country in the world and world’s fastest growing economy. In terms of GDP and PPP, China is the second largest economy in the world.
Till 1978, China had a centrally planned economy but during the early 1960s, China’s economy started changing due to the ‘Great Leap Forward’ initiated by Mao Zedong.
Foreign exchange reserves: $1.25 trillion
In terms of GDP, Japan has the third largest economy in the world and by PPP; Japan is the fourth largest economy in the world.
The Japanese industrial sector is the main reasons behind this growth of Japan. It is the home to some of the most advanced automobile companies in the world. Even Japan is also very rich in their hun resources.
Japan is also one of the largest exporters of electronics, ships, textile, processed foods and nonferrous metals. The unemployment rate is very low in Japan.
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