April 19, 2024
Economy
Foreign reserves across Asia
[THE INVESTOR] China is the world’s largest holder of foreign exchange reserves. It has over 2 1/2 times more foreign reserves than the second-largest reserve holder, Japan.
The Asian giant has US$3.483 trillion in foreign exchange reserves, despite a recent drop. China is followed by Japan, with a substantial US$1.21 trillion won worth of foreign exchange.
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Korea and India also have large reserves of foreign exchange. In Korea, the foreign exchange reserve is US$370 billion, while India holds US$361 billion worth of foreign exchange, as per World Bank data.
Other Asian nations which have sizeable foreign reserves are Singapore (US$251 billion), Thailand (US$171 billion) and Indonesia (US$116 billion). Malaysia, Philippines and Vietnam have reserves of US$94 billion, US$480 billion and US$36 billion, respectively.
(theinvestor@heraldcorp.com)
