Unsourced material may be challenged and removed. Please help improve this article by adding citations to reliable sources. This section needs additional citations for verification. And since all the figures below are in U.S dollar equivalents, exchange rate fluctuations can have a significant impact on these figures. dollars, a few nations in Eastern Europe report solely in Euros and some others report in their respective currencies. The list below is mostly based on the latest available IMF data, and while most nations report in U.S. Currency substitution can be full or partial. The process is also known as dollarization or euroization when the foreign currency is the dollar or the euro, respectively. Some nations are converting foreign-exchange reserves into sovereign wealth funds, which can rival foreign-exchange reserves in size. Currency substitution is the use of a foreign currency in parallel to or instead of a domestic currency. Before the end of the gold standard, gold was the preferred reserve currency. the local currency issued and the various bank reserves deposited with the Central bank by the government or financial institutions). Dollar, the Euro, the Japanese Yen, the Pound Sterling, and the Chinese Yuan) and which are used to back its liabilities (e.g. These foreign-currency deposits are the financial assets of the central banks and monetary authorities that are held in different reserve currencies (e.g. However, in popular usage and in the list below, it also includes gold reserves, special drawing rights (SDRs) and International Monetary Fund (IMF) reserve position because this total figure, which is usually more accurately termed as official reserves or international reserves or official international reserves, is more readily available and also arguably more meaningful. For reserves excluding gold, see List of countries by foreign-exchange reserves (excluding gold).įoreign-exchange reserves, also called Forex reserves, are, in a strict sense, only foreign-currency deposits held by nationals and monetary authorities.
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