10 Countries With The Biggest Forex Reserves.
Foreign currency reserves are vital to a nation's economic well-being. Without adequate reserves, an economy can grind to a halt. The country may be unable to pay for critical imports like crude oil, or service its external debt.
The International Monetary Fund (IMF) defines reserve assets as external assets that a country’s monetary authority can use to meet balance of payments financing needs, use to affect currency exchange rates in currency exchange markets, and other related purposes. Most nations hold the vast majority of their foreign currency reserves in U. S. dollars and a much smaller portion in euros.
A sizeable war chest of foreign currency reserves is especially handy during a currency crisis, since it can be used to defend against speculative attacks on the national currency. Russia, which holds substantial foreign currency reserves, is a good example. In 2014, the United States and the European Union imposed economic sanctions on Russia for its involvement in the Ukraine conflict. Coupled with a 50 percent plunge in the price of crude oil (Russia's largest export and a key driver of its economy), these sanctions severely impacted the Russian economy.
The ruble slid 40 percent against the dollar in 2014, but the outcome could have been far worse had Russia had not intervened in foreign exchange markets to prop up the ruble, expending more than $80 billion of its reserves in doing so. The ruble further strengthened throughout 2015-2016 as the political situation in Ukrain has somewhat calmed.
Here are the ten countries with the largest foreign currency reserve assets as of April 2016. All reserve assets are given in billions of U. S. dollars. (Source: data. imf. org)
Official Reserve Assets (in billions of U. S. dollars)
Republic of Korea.
The above table lists China’s and Hong Kong’s reserves separately. China has by far the largest foreign currency reserves with over two and half times more than the second largest reserve holder, Japan. When China and Hong Kong reserves are considered together, the total is $3.9 trillion. Asian nations dominate the ranks of the nations with the largest foreign currency reserves, accounting for six of the top ten. These include China, Japan, Korea, Hong Kong, and India.
The United States had foreign currency reserves of $119.6 billion as of April 2016. The Euro Area had combined foreign currency reserves of $819.9 billion as of April 2016. The UK, which did not make the list, has $169.4 billion in foreign reserves as of April 2016.
Maintaining foreign currency reserves is vital to the economic health of a nation. The top ten nations in terms of foreign currency reserves had combined reserve assets of $8.79 trillion as of April 2016, almost half of which were accounted for by China and Hong Kong.

Korea forex reserves

Zero loss forex system Forex live rates api Forexpros usd chf Forex rules in pakistan Forex robot free mt4 Forex hk dollar to peso Which one helps to learn forex Advertisement -. Home Tags South Korea forex reserves. Tag: South Korea forex reserves. Asia · Foreign Currency Reserves of These 5 Asian Nations Have Hit Record 16 Oct - Advertisement -. Twitter Feed. Tweets by fronteranews. Frontera Pro Community Chat. FNT Token Sale. Our Services Advisory Services. South Korea's foreign exchange reserves hit a record high in June due to a hike in the value of non-dollar currencies when converted into the U. S. greenback, central bank data showed sportstrakker of the end of June, the country's foreign exchange reserves came to $ billion, up $ billion from. South Korea's foreign exchangereserves edged down for the first time in seven months inSeptember to $ billion, the central bank said on Thursday, as the U. S. dollar strengthened in global markets. Total foreign exchange reserves held by the Bank of Korea(BOK) fell by $ million in September.
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South Korea ramps up forex reserves to record high.
South Korea's currency reserves hit a record high in October in what analysts say is a clear sign that Seoul is determined to prevent a sharp appreciation of the won and build up its fire power to offset the impact of any tapering by the Federal Reserve.
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According to data released on Tuesday by the Bank of Korea (BOK), the country's foreign exchange reserves stood at $343.23 billion at the end of last month, up $6.3 billion from the end of September and jumping by the biggest amount in about two years.
Analysts suspect the rise in reserves reflects central-bank intervention in the currency markets to curb a rise in the won, which has climbed almost 9 percent against the U. S. dollar since late June.
"The rise in South Korea's reserves is significant," said Mitul Kotecha, head of global currency research at Credit Agricole in Hong Kong.
"The South Korean authorities do not want their currency to appreciate too rapidly and so they have been intervening, particularly in recent weeks. It doesn't surprise me that there has been a build-up of reserves to reflect that," he added.
The won, trading at around 1,060 to the U. S. dollar on Tuesday, strengthened to around 1,054 last month, its strongest level in more than two years. The currency has been boosted by strong foreign demand for South Korean stocks and bonds, which have gained somewhat of a safe-haven status amid the recent turmoil in emerging markets.
"If you look at dollar/won at around 1,050, these levels have marked significant lows for dollar/won over the past few years," said Nizam Idris, managing director, head of strategy , fixed income and currencies at Macquarie Bank.
"The data confirms to us that the BOK bought quite a bit of dollars at that sort of level. It seems like it [1,050] could be a clear line in the sand for the BOK," Idris added.
South Korea's economy is heavily dependent on exports to drive growth. Currency strength, which dents exporter competitiveness, is something that is watched closely.
Indeed, South Korea's Finance Minister Hyun Oh-seok warned last month that recent won strength had been excessive.
Analysts said the jump in foreign exchange reserves also possibly reflected a wish to build up a buffer against any sharp outflow of funds in the event of a pull-back in U. S. monetary stimulus.
Emerging markets have been jolted this year by Fed tapering worries. Still, there has been some calm in recent weeks as investors pushed back their expectations for when the U. S. central bank was likely to start scaling back its $85-billion-a-month asset purchase program.
"I think the BOK is using this as an opportunity to build up a buffer for when taper comes back onto the agenda again and there is pressure on Asian currencies," Idris added.

South Korea FX Reserves (USD)
South Korea FX Reserves (USD)
FX Reserves - USD Discussion.
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