2024-04-07 07:43:27
New Delhi: India‘s foreign exchange reserves have reached an all-time high. In the week ending March 29, 2024, there was a significant increase of $ 2.951 billion in the country’s foreign exchange reserves and it reached $ 645.583 billion. Do you know which country has the largest foreign exchange reserves in the world? The answer is China. The forex reserve of this neighboring country of India is 3.22 trillion dollars. It is about five times larger than India. There is no remote competition with China in terms of foreign exchange reserves. China has also increased its gold reserves rapidly. In February it bought 12 tonnes of gold while India bought six tonnes of gold during this period. After America, China is the second largest economy in the world while India is at fifth place. After China, Japan is at second place in terms of forex reserves. Japan has foreign exchange reserves of $1.29 trillion. Interestingly, Switzerland, a small country in Europe, is at third place in this list. Its foreign exchange reserves are 868 billion dollars. The population of Switzerland is not even one crore. India is at fourth position in this list, one place behind Switzerland. Russia is fifth with $590 billion, Taiwan ($569 billion) sixth, Saudi Arabia ($431 billion) seventh, Hong Kong ($423 billion) eighth, South Korea ($415 billion) ninth and Mexico ($364 billion) tenth. Is on number. Mexico has recently increased its foreign reserves rapidly. After this, Europe’s largest economies are Germany ($362 billion), Singapore ($357 billion), Brazil ($352 billion), America ($242 billion), France ($240 billion), Thailand ($223 billion), Israel ( 206 billion dollars), Poland ($187 billion) and UK ($182 billion).
Foreign Exchange Reserve: Indian foreign exchange reserves broke all records, why did Pakistan start crying after just two weeks?
who is at the bottom
At the bottom of this list is Kiribati whose forex reserve is only 8 million dollars. The foreign exchange reserves of Somalia, Burkina Faso, Equatorial Guinea, Benin and South Sudan are less than 10 million dollars. Syria has foreign exchange reserves of $401 million and Pakistan has foreign exchange reserves of $8.04 billion. Maldives has $588 million, Sri Lanka has $4.5 billion, Nepal has $18.4 billion, Afghanistan has $6.2 billion, Bangladesh has $25.9 billion, Argentina has $20 billion, Nigeria has $34.9 billion, Ukraine India has foreign exchange reserves of $40 billion and Australia has foreign exchange reserves of $53 billion.