Top 3 major economies of the world having highest forex reserves:
China, Japan and Switzerland are the top 3 major economies in the world which have maintained their pace in leading the world in 2023 as regards to the foreign exchange reserves.
China has consistently held the largest amount of dollar reserves. It has accumulated significant foreign exchange reserves over the years, primarily in the form of U.S. Treasury securities and other dollar-denominated assets. China keeps on leading the world in foreign exchange reserves in 2023 as China’s foreign exchange reserves lifted to USD 3.193 trillion at the end of June 2023 which were USD 3.177 trillion in May 2023.
Japan has consistently been one of the countries with substantial dollar reserves. It has accumulated a significant amount of foreign exchange reserves, including holdings of U.S. Treasury securities and other dollar assets. Its foreign exchange reserves in June 2023 equate to USD 1.24 trillion with a slight decrease from USD 1.25 trillion in May 2023.
Switzerland is known for its strong currency and has historically maintained a significant amount of dollar reserves. The country has accumulated reserves in various currencies, including the U.S. dollar, as part of its monetary policy and economic stability measures. Its foreign exchange reserves were measured at USD 819.7 billion in Apr 2023 as compared with USD 813.1 USD billion in the prior month.
