Key Takeaways
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China is the largest holder of the currency reserve in the world, which holds around $3.4 trillion in foreign reserves, excluding gold.
Among the top 10 countries, 7 are from Asia, which shows the development of exports and rise in production.
However, the US is the largest economy in the world, but it ranks 13th in the world in holding currency reserves.
Today, the country which keeps the largest currency reserve is capable of managing its economic affairs and remains stable in its financial condition.
After the 1997 Asian financial crisis, many countries are now keeping reserves with themselves in the form of gold or currency to maintain their financial stability in the growing market at the global level.
Today, in this article, discover the top countries with the largest currency reserves using the data from the IMF’s International Reserves and Foreign Currency Liquidity (IRFCL).
Top Countries with the Largest Currency Reserves
Based on IMF data from mid-2025 through Q2 2026 (excluding gold).
|
Rank
|
Country
|
Foreign Exchange Reserves ($B)
|
Region
|
|
1
|
China
|
3,410.5
|
Asia
|
|
2
|
Japan
|
1,259.2
|
Asia
|
|
3
|
Switzerland
|
932.3
|
Europe
|
|
4
|
Taiwan
|
602.5
|
Asia
|
|
5
|
India
|
543.0
|
Asia
|
|
6
|
Saudi Arabia
|
458.6
|
Middle East
|
|
7
|
Hong Kong
|
442.1
|
Asia
|
|
8
|
Russia
|
434.5
|
Europe/Eurasia
|
|
9
|
South Korea
|
423.1
|
Asia
|
|
10
|
Singapore
|
419.3
|
Asia
|
|
11
|
Brazil
|
344.2
|
Latin America
|
|
12
|
United Arab Emirates
|
251.4
|
Middle East
|
|
13
|
United States
|
244.6
|
North America
|
Why do Countries Reserve Foreign Exchange?
According to the Ministry of Statistics and Program Implementation, Foreign exchange reserves are an important component of the Balance of Payment (BoP) and an essential element in
the analysis of an economy’s external position.
These foreign exchange reserves act as an emergency fund for any nation, and these reserves are used by the Central Bank during any emergency to stabilise the currency during market turmoil, for essential payment during imports, or for the service of foreign debt.
Why does the US stand in a low rank in the reserve of currency?
Despite the US being the largest economy in the world, it ranks 13th in currency reserves. As the US dollar serves as the primary reserve currency in the world, the US dollar dominates global trade and economy.
So, the US does not need to reserve their currency with them, as the US dollar is already in demand for trade and investment, and many central banks allow the US dollar to settle their obligations in its own currency.