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Banking related general awareness --Foreign Exchange reserves

Which country has the maximum foreign exchange reserves?

Ans. China.

Now we see,

Foreign exchange reserves (also called Forex reserves or FX reserves) in a strict sense are only the foreign currency deposits and bonds held by central banks and monetary authorities. However, the term in popular usage commonly includes foreign exchange and gold, Special Drawing Rights (SDRs) and International Monetary Fund (IMF) reserve positions.

Rank↓ Country↓ Billion USD (end of month)↓
1 People's Republic of China People's Republic of China $ 3,197 (Jun 2011)[5]
2  Japan $ 1,138 (Jun 2011)[6]
3  Russia $ 531 (Jul 2011)[7]
4  Saudi Arabia $ 497 (Jun 2011)[8]
5  Republic of China (Taiwan) $ 400 (Jun 2011)[9]
6  Brazil $ 352 (Aug 2011)[10]
7  India $ 318 (Aug 27 2011)[11]
8  South Korea $ 311 (Jul 2011)[12]
9  Switzerland $ 289 (May 2011)[13]
10  Hong Kong $ 277 (Jun 2011)[14]
11  Singapore $ 249 (Jul 2011)[15]

http://en.wikipedia.org/wiki/Foreign_exchange_reserves

This broader figure is more readily available, but it is more accurately termed official international reserves or international reserves. These are assets of the central bank held in different reserve currencies, mostly the US dollar, and to a lesser extent the euro, the UK pound, and the Japanese yen, and used to back its liabilities, e.g., the local currency issued, and the various bank reserves deposited with the central bank, by the government or financial institutions.

http://en.wikipedia.org/wiki/Foreign_exchange_reserves





Banking related general awareness --Foreign Exchange reserves Reviewed by sambasivan srinivasan on 12:37:00 AM Rating: 5

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