{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/total-foreign-exchange-reserves-increased-by-810bn-in-five-years\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/total-foreign-exchange-reserves-increased-by-810bn-in-five-years\/","headline":"Total Foreign Exchange Reserves Increased by $810bn in Five Years","name":"Total Foreign Exchange Reserves Increased by $810bn in Five Years","description":"Foreign exchange reserves are essential to a nation’s economic well-being. Monetary authorities use these external assets for many purposes, but mostly to ensure a central government agency has backup funds if the national currency rapidly devalues. According to data gathered by ForexSchoolOnline, total foreign exchange reserves increased by $810bn in the last five years, reaching […]","datePublished":"2020-07-29","dateModified":"2020-07-29","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jastra\/#Person","name":"Jastra Ilic","url":"https:\/\/forexschoolonline.com\/author\/jastra\/","identifier":15939,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/a90f2643412b9ea38d594ebff6fd16b1e1117d77a20a43ca4b0662e2aac97284?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a90f2643412b9ea38d594ebff6fd16b1e1117d77a20a43ca4b0662e2aac97284?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2020\/07\/Currency_cover.jpg","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2020\/07\/Currency_cover.jpg","height":700,"width":1200},"url":"https:\/\/forexschoolonline.com\/total-foreign-exchange-reserves-increased-by-810bn-in-five-years\/","about":["Article"],"wordCount":344,"keywords":["Foreign exchange reserves","forex reserves"],"articleBody":"Foreign exchange reserves are essential to a nation’s economic well-being. Monetary authorities use these external assets for many purposes, but mostly to ensure a central government agency has backup funds if the national currency rapidly devalues.According to data gathered by ForexSchoolOnline, total foreign exchange reserves increased by $810bn in the last five years, reaching an $11.73trn value in the first quarter of 2020.U.S. Dollar Accounts for 62% of Foreign Exchange ReservesForeign exchange reserves can include deposits, bonds, treasury bills, and other government securities. In 2005, the total value of these external assets worldwide reached $4.32trn, revealed Statista and International Monetary Fund data. In the next five years, this figure rose by $4.94trn, reaching a total of $9.26trn at the end of 2010.Statistics show that by the end of 2013, global foreign exchange reserves jumped to $11.68trn. However, this figure fell to $10.71trn in the next three years. The IMF data indicate the total value of these assets rose by $1.02trn since 2016.Analyzed by currency, the U.S. dollar accounted for nearly 62% of global foreign exchange reserves, with almost $6.8trn worth assets as of the first quarter of 2020. Euro ranked as the second-most used reserve currency, with $2.19trn worth assets, or more than 20% of global forex reserves. Japanese Jen follows with and $624bn in currency reserves, and 5.70% market share, respectively.China Holds Nearly One-third of Global Currency ReservesChina has by far the largest forex reserves, with nearly $3.4trn worth assets as of May 2020, or almost 30% of the world`s currency reserves. The International Monetary Fund data revealed that Japan ranked as the second country on this list with $1.64trn in reserve assets, twice less compared to leading China. Statistics show that Japanese forex reserves increased by $242bn in the last four months.As the third country on this list, Switzerland had $913.5bn in foreign exchange reserves as of May, nearly $58bn increase in four months. Russia and India follow, with $566.1bn and $495.7bn worth assets, respectively. The United States forex reserves, which are mostly euros and yen, were valued at $133.2bn in July."}