What are foreign exchange reserves?
Other people’s money, kept in a nation’s drawer.
Central banks and governments keep other countries’ currencies. Worldwide, that drawer holds more than $13 trillion. The currencies inside, and how they are counted.
In 30 seconds
- Foreign exchange reserves are assets in other countries’ currencies held by a country’s central bank or government.
- According to the IMF, world foreign exchange reserves stood at $13.10 trillion in the first quarter of 2026.
- They are 57.13% US dollars, 20.03% euros, 5.44% yen and 1.99% renminbi. The shares also move with exchange rates.
Foreign money that a nation keeps.
Foreign exchange reserves are assets in foreign currencies held by a country’s central bank or government.
The world’s drawer holds $13 trillion.
Taken together, the world’s foreign exchange reserves exceed $13 trillion.
Total world foreign exchange reserves (first quarter of 2026)
Down from the previous quarter (IMF).
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The total
According to the IMF, world foreign exchange reserves fell to $13.10 trillion in the first quarter of 2026.[1]
What colours are inside the drawer?
Reserves are divided among several currencies.
US dollar share of world foreign exchange reserves (first quarter of 2026)
The euro 20.03%, the yen 5.44%, the renminbi 1.99%.
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Breakdown by currency
In the first quarter of 2026 the shares were 57.13% for the US dollar, 20.03% for the euro, 5.44% for the yen and 1.99% for the renminbi.[1]
Same contents, moving shares.
When exchange rates move, the value of each currency changes, and so do the shares.
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Exchange-rate valuation
The IMF explains that about half of the rise in the dollar’s share in the first quarter of 2026 came from a valuation effect of the stronger dollar.[1]
A change in counting
Since the third quarter of 2025, the portion with an unknown currency has been removed, and 100% of reserves are shown by currency.[1]
A scale for reading what comes next.
A scale for reading foreign exchange reserves.
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The total
Whether the world’s reserves grow or shrink.[1]
The mix
How the shares of the US dollar, euro, yen and renminbi move.[1]
Exchange-rate effects
Whether a change in shares comes from buying and selling or from exchange-rate valuation.[1]
This is not advice
This edition explains how foreign exchange reserves work. It does not recommend buying or selling any currency.
Next question
NEXT QUESTIONWhy the world’s currencies speak in dollars.NEXT QUESTIONThe deepest tap in money.See the Field Notes shelf →What this edition cannot tell you
- A ranking of reserves by country. National releases could not be checked on a consistent basis, so this edition does not cover it.
- Country-by-country records of how reserves were used.