Top 10 countries with the highest reserves of foreign exchange and gold 2025
Business Insider Africa presents the top 10 countries with the highest reserves of foreign exchange and gold 2025.
This list is courtesy of Global Firepower.
China ranks number 1 on the list.
These reserves, which are composed of gold holdings and foreign currencies like the US dollar and euro, act as a vital financial buffer.
Their significance is represented in international rankings like those created by Global Firepower, which monitors national capabilities like economic strength and defense readiness.
Large gold and foreign exchange reserves provide a number of strategic benefits for many nations, particularly those in Africa and the Global South.
They serve as a safety net in times of emergency, to start.
Countries with large reserves can utilize them to stabilize their currency, pay for necessary imports, or satisfy international debt commitments without going into default, regardless of the circumstances, a sudden economic shock, a pandemic, or a decline in commodity prices.
For economies that rely heavily on imports and are impacted when the native currency depreciates, this is especially important.
For example, nations with more robust reserves fared better during the COVID-19 epidemic and the Russia-Ukraine conflict.
Reserves also help to maintain currency stability.
Reserves are a tool that central banks can employ to curb excessive currency volatility and interfere in foreign exchange markets.
Furthermore, they increase investor trust and global credibility.
Strong economic management and resilience are indicated by high reserves, and this can result in improved credit ratings and cheaper borrowing rates on global markets.
Countries that seem prepared and fiscally sound have a higher chance of receiving loans or investments from international organizations.
With that said, here are the countries in the world with the highest reserves of foreign exchange and gold, according to Global Firepower.
Top 10 countries with the highest reserves of foreign exchange and gold 2025
Rank Country Reserves of Foreign Exchange and Gold by Country (2025)
1. China $3,450,000,000,000
2. Japan $1,295,000,000,000
3. Switzerland $863,892,000,000
4. United States $773,426,000,000
5. India $627,793,000,000
6. Russia $597,217,000,000
7. Taiwan $492,635,000,000
8. Saudi Arabia $457,949,000,000
9. South Korea $420,930,000,000
10. Singapore $359,835,000,000
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Chicago Tribune
9 hours ago
- Chicago Tribune
Guest column: Gary students deserve more than virtual replacements
As the president of the Gary Teachers Union, I have the privilege of representing the hardworking educators who are the backbone of our community. So it's with deep concern that I must address the recent decision by the Gary Community School Corporation to contract with Proximity, a virtual education provider. This is a move that will replace up to 45 local educators with a teacher-on-a-screen. The misleadingly named Proximity promises a 'licensed teacher in every classroom,' but let's be clear — the deal will only leave students more isolated. This online platform is no silver bullet for the challenges we face in education. It is a shortcut that sacrifices the real, tangible, in-person connections that are essential to student success. I know firsthand how deeply our educators care about our students. We do more than just teach: we mentor, we support, and we understand the unique challenges that each student faces. We know the names of their parents and siblings and can recite their struggles, and their triumphs. We sit through late-night meetings and community events, not because it's part of the job, but because we are part of this community. Our students' success is our success, and their failures weigh heavily on our hearts. This partnership with Proximity is not just a decision to 'go digital' — it is a decision to replace the soul of education with something far more distant. And it's a decision being made with no union collaboration, no teacher buy-in. As the exclusive bargaining representative for our teachers, I wasn't even consulted. Proximity may promise technology that works for some, but a 'virtual teacher' will never attend a school concert, offer a shoulder to cry on, or help a struggling student after school. They will not build the trust and the personal relationships our students need to succeed. The claim that Proximity guarantees a 'licensed' teacher is not an assurance of quality. Licensing is important, but teaching is more than having a piece of paper. It's about understanding the nuances of each student's individual learning journey, responding to their needs, and building a rapport that encourages growth — things that cannot be replicated through an algorithm or a screen. Did we not learn this during COVID? Our public school teachers are not just 'licensed' — they are deeply committed professionals who live, work, and raise families in Gary. They are part of our community. Replacing them with a virtual talking head is an insult to their dedication and to the families that depend on them. Let's not forget the financial implications of this decision. This may not even be cost effective for the school district! Everything we've seen says we'll still need a 'classroom facilitator' to be physically present. How much more will this cost? To the administration of the Gary School Corporation: I urge you to reconsider this decision. This is not just about saving money or adopting the latest technological trend. This is about the future of our children, the integrity of our schools, and the livelihoods of the teachers who are committed to making Gary a better city for everyone. We deserve more than virtual replacements. Our teachers and this community have built a school system that puts children first. We need to fight for our teachers and paraprofessionals — the people who have dedicated their lives to this work and to this city. Our teachers deserve better. Our students deserve better. And the community of Gary deserves better than to be sold short by a for-profit virtual platform.
Yahoo
9 hours ago
- Yahoo
Russia's biggest carmaker is eyeing a 4-day workweek because sales are doing so poorly
Avtovaz, the maker of the Lada, is thinking of switching to a four-day workweek amid poor sales. It accused foreign car firms of "price dumping," and projected earlier that 2025 sales would fall 25%. But Russians are also buying fewer cars overall, down 27.6% in June year-on-year. Avtovaz, the firm that manufactures Russia's best-selling car brand, said on Tuesday that it may shift to a four-day workweek amid forecasts of plummeting sales for this year. The state-owned automaker told Russian state media it was fighting multiple headwinds, including Chinese car brands surging into the local market. So it's considering introducing the downsized workweek in the fall, starting on September 29. "At the same time, the company emphasizes that the final decision on the introduction of a partial four-day workweek will be made based on the results of an analysis of market trends and economic factors, including the level of the key rate and the availability of credit products," Avtovaz said in a statement to Russian media. The firm makes the Lada, the Soviet Union's most widely produced family of cars, and a symbol of Russia's Cold War era. The Lada continues to be the most common car in the country. Avtovaz has previously reduced factory work days. It last introduced a temporary four-day workweek for three months in 2022, as the onset of the Ukraine war prompted foreign industries to leave Russia. Now, it's telling state media that its sales were hit hard by tightening car loan rules and high interest rates — debt-averse measures that Moscow imposed amid the West's sanctions. China's cars hit Lada hard But this time, the company also blamed the heavy import of foreign cars in 2024. With almost all international car brands ceasing official sales in Russia after the Ukraine war began, foreign sales there are dominated by Chinese automakers. Chinese car brands sold over 1 million vehicles in Russia in 2024, a sevenfold increase from the previous year. In its statement, Avtovaz accused imported brands of "pursuing a policy of price dumping," saying that these rivals' warehouses hold over 400,000 unsold cars. And the Russian carmaker thinks its revenues will continue to suffer. Avotvaz said last month that it expected its car sales to drop 25% to 1.1 million vehicles in 2025 compared to last year. That's amid an overall drop in car sales across Russia. The local auto analysis firm Autostat said on July 4 that 90,116 new passenger cars were sold in June, down 27.6% from the same month last year. Despite its challenges, Avtovaz holds the largest share in the domestic market, selling just over a quarter of those cars in June. Avtovaz and Solaris, a new local car company that operates an old Hyundai plant in St. Petersburg, are the only two Russian companies in the country's top 10 passenger car firms by sales. Another seven of the top 10 are Chinese firms, while one is Belarusian. Read the original article on Business Insider
Los Angeles Times
10 hours ago
- Los Angeles Times
Struggling Texas cotton industry emphasizing the hazards of fast fashion
LUBBOCK, Texas — For decades, the cotton industry has long been considered king in the Texas agriculture world. However, a shift has left it standing on shaky ground. In the last few years — as cotton producers struggled with low market prices, high costs of business, and unpredictable weather — synthetic fibers have become more mainstream. Fast fashion outlets on the internet are offering clothes made of polyester, nylon and spandex at hard-to-beat prices. And for customers dealing with inflation and the rise of influencer culture, the clothes are flying off the virtual shelves. 'We've been growing this safe fiber all our lives, and we can't seem to get any traction,' said Walt Hagood, a cotton producer outside Lubbock. 'If people want cotton, it would be really helpful for them to go out and start asking the stores for it.' The cotton industry isn't going down without a fight, though. Producers in the Texas High Plains, where 30% of the nation's cotton is grown, have started raising awareness about synthetic fibers and what impacts the non-biodegradable products have on the environment and consumer health. In recent months, Plains Cotton Growers, an organization that represents cotton producers in the region, has shared infographics about synthetic fibers. Almost 70% of clothes in fast fashion are made with synthetics, mostly polyester, which is usually made from petroleum. Plastic-based fibers are not biodegradable. Microplastics, which shed when the clothes are made, washed, and worn, are affecting more than the cotton industry. These tiny plastic particles build up in water supply sources, contaminating drinking water and polluting lakes and rivers. This is also a cause of concern for farmers, who depend on good water quality to prop up their crops. As the competition for consumers grows, cotton farmers are hoping to gain a powerful ally in their mission against fast fashion: U.S. Health Secretary Robert F. Kennedy Jr. He has already shown interest in regulating warning labels for foods containing synthetic dyes and other additives. They hope he can take a closer look at the impact the man-made fibers have on the environment and consumer health. Kara Bishop, director of communications and public affairs for Plains Cotton Growers, has been behind much of the messaging on social media. Following the COVID-19 pandemic, Bishop saw the rise in athleisure wear and 'shopping hauls' featuring TikTok influencers showing off clothes from known fast-fashion outlets. Even when she would shop, Bishop said it was hard to find clothes that were 100% cotton that were also fashionable. Once she saw that synthetic manufacturers were able to replicate crochet tops or denim vests and blazers without cotton, Bishop knew there was a problem. She realized there wasn't enough awareness for consumers about cotton, or the harm caused by polyester and other synthetic fibers. 'We've got to do something to slow down the momentum of plastic pollution,' Bishop said. 'But there's got to be some kind of emotional anchor. You can't just tell people to wear cotton.' Bishop said this is why she started highlighting the health risks on social media. Some posts focus on health and environmental concerns, including one that links to a study estimating humans ingest a credit-card size amount of plastic each week. Another explains cotton microfibers break down in water within a few months. Synthetic microfibers, on the other hand, can take between 20 to 200 years to break down. Bishop also created a list of stores where people can buy cotton-rich clothes and other products, such as backpacks. Bishop saw this as an opportunity for the cotton industry to have better messaging. Cotton producers typically have to defend their practices, including their use of chemicals like pesticides. Bishop said cotton growers have used less chemicals over the years due to poor production, particularly in comparison to the amount of chemicals used for synthetic fibers. By raising awareness on the dangers of man-made synthetic fibers, they could help their cause and the environment. 'This is a place where we can actually be on the offense and say, 'Hey, you're wearing petroleum and it's going to hurt you and the planet,' Bishop said. Balaji Rao, a professor and microplastics researcher at Texas Tech University, said synthetic fibers are designed to be stable and not degrade. When they break down over time, Rao said, the plastics enter the environment and stay there. 'It's not that they stay forever, but long enough that they can potentially impact the environment,' Rao said. 'Natural fibers do degrade because they are designed by nature.' According to the National Oceanic and Atmospheric Administration, microplastics are found throughout all sources of water — from the ocean to tap and bottled water. One study, published in the 2024 Proceedings of the National Academy of Sciences, found that plastic contamination is in every step involved in the production of drinking water, from when the water is drawn from a well to when it's in the bottle. Rao said this is the case with the food packing industry, too. However, he said it comes down to the cost of production, just like with clothes. Replacing a shirt made of cotton as opposed to polyester would be more environmentally friendly, he said. But the question for consumers is the cost. 'If we can develop the industry to make these naturally derived plastics and fibers, I think it would be a great value for the environment,' Rao said. 'That's something that would require policies and initiatives to make that happen. It's going to be a slow process.' Hagood, the cotton producer, doesn't want more regulations. Instead, he wants people to be more aware of what's on their clothing labels. He thinks Kennedy will look into it, as the health secretary has honed in on microplastics in food production. He also posted on social media last year about microplastics found in the human brain. The more people know about synthetic fibers, Hagood said, the better. 'We're out here struggling because we can't get enough demand to get enough support with our prices,' Hagood said. For Hagood and other cotton growers, it could be the difference in both their success and the well-being of future generations. Hagood has been growing cotton for 46 years and faced the shaky markets, water scarcity and extreme weather events that come with the territory. The fact that he's now fighting fast fashion, on top of the other complications that come his way, is a surprise to him. 'It's mind-boggling to me that this isn't a larger public conversation,' Hagood said. This story was originally published by The Texas Tribune and distributed through a partnership with The Associated Press.
