China has the largest forex reserves in the world — here’s how other countries measure up

0
88

china hong kong currency exchangeAP Images

Forex reserves can help a country buoy local currency or even provide insurance in the case of a national economic emergency.
China tops other countries in foreign reserves with $3.2 trillion held. 
The dollar and the euro are the most common reserve currencies used in international transactions, so the US and EU don’t need to hold a lot of reserves. 

In the high stakes game of international trade, holding onto a stockpile of foreign cash gives you options.

Forex reserves can help buoy the local currency or even provide much-needed insurance in the case of a national economic emergency. And when reserves are plentiful, a country can even use them to wield influence on international affairs – after all, most financial assets are simultaneously someone else’s liability.See the rest of the story at Business Insider

NOW WATCH: What humans will look like on Mars

See Also:

Here is Michael Jordan’s 56,000-square foot house in Chicago and why it is still on the market after 6 yearsHere’s how much energy Americans used last yearHere’s how immigration in the US has changed over the past 2 centuries

SEE ALSO: The most and least expensive places to live in America


Read more: feedproxy.google.com

Leave your vote

0 points
Upvote Downvote

Total votes: 0

Upvotes: 0

Upvotes percentage: 0.000000%

Downvotes: 0

Downvotes percentage: 0.000000%