Economy
Mapped: The Countries With the Most Foreign Currency Reserves
The Countries With the Most Foreign Currency 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.
Forex Reserves by Country
Today’s infographic comes to us from HowMuch.net, and it resizes countries on a world map based on their foreign currency reserves, according to the most recent IMF data.
Here is a list of the top 10 countries – China tops the list with a solid $3.2 trillion in reserves held:
Rank | Country | Forex Reserves ($B) |
---|---|---|
#1 | China | $3,161.5 |
#2 | Japan | $1,204.7 |
#3 | Switzerland | $785.7 |
#4 | Saudi Arabia | $486.6 |
#5 | Hong Kong (China) | $437.5 |
#6 | India | $397.2 |
#7 | South Korea | $385.3 |
#8 | Brazil | $358.3 |
#9 | Russia | $356.5 |
#10 | Singapore | $279.8 |
The first thing you may gather from this list is that major economies like the U.S. and Europe are noticeably absent, but that is because the U.S. dollar and the euro are the most common reserve currencies used in international transactions. As a result, countries such as the United States do not need to hold as many reserves.
To put this all into context, here is what central banks reported in 2017 Q3 for their foreign currency holdings:
Rank | Reserve Currency | Global Holdings |
---|---|---|
#1 | U.S. Dollar | 63.5% |
#2 | Euro | 20.0% |
#3 | Japanese Yen | 4.5% |
#4 | British Pound | 4.5% |
#5 | Canadian Dollar | 2.0% |
#6 | Aussie Dollar | 1.8% |
#7 | Chinese Yuan | 1.1% |
n/a | Other | 2.6% |
Interestingly, the Japanese yen has decent acceptance as a reserve currency, but the country still holds the second highest amount of foreign currency reserves ($1.2 trillion) anyways. This is partially because Japan is an export powerhouse, sending $605 billion of exports abroad every year.
Why Hold Foreign Currency Reserves?
And now, a practical question: why do these countries hold foreign currency reserves in the first place?
Here are seven reasons, as originally noted by The Balance:
- Forex reserves allow a country to maintain the value of their domestic currency at a fixed rate
- Countries with floating exchange rates can buy up foreign currencies or financial instruments to reduce the value of their domestic currency
- Forex reserves can help maintain liquidity during an economic crisis
- Reserves can provide confidence to foreign investors, showing that the central bank has the ability to take action to protect their investments
- Foreign currency reserves give a country extra insurance in meeting external payment obligations
- Forex reserves can be used to fund certain sectors, like building infrastructure
- They also provide a means of diversification, which allows central banks to reduce the risk of their overall portfolios
For a related animation, see the history of how the U.S. dollar spread across the world.
United States
Visualizing the Most Sought-After Entry Level Jobs in 2023
Some jobs need a degree, while others don’t. Here are the top 20 most sought-after entry level jobs with and without a degree.

The Most Sought-After Entry Level Jobs of 2023
In the fast-paced realm of job hunting, staying ahead of the curve is crucial. And if you are an entry-level job applicant, the pressure is a notch higher.
New entrants in any job market today compete with groundbreaking technology like ChatGPT in addition to their peers. In the United States, these applicants have to also wade through an uncertain labor market, inflation, and long lists of job requirements.
Indeed.com has identified the most sought-after entry level positions for applicants both with and without a degree in the U.S., and the year-on-year growth of these job postings.
Most Sought-After Entry-Level Jobs With a Degree
As the U.S. job market recovers from its pandemic slump, some careers are now booming. This in turn has opened up numerous opportunities for entry-level job applicants.
Rank | Job Title | Average Annual Salary | Change in Postings (2022‒2023) |
---|---|---|---|
1 | Outside Sales Representative | $60,000 | +258% |
2 | Transportation Coordinator | $47,500 | +227% |
3 | Quality Auditor | $84,500 | +131% |
4 | Accounting | $52,000 | +125% |
5 | Tax Preparer | $67,500 | +123% |
6 | Loan Processor | $55,000 | +100% |
7 | Retention Specialist | $50,000 | +100% |
8 | Network Operations Technician | $85,500 | +94% |
9 | Mental Health Manager | $42,000 | +93% |
10 | Speech-Language Pathologist | $60,000 | +84% |
11 | Geotechnical Engineer | $65,000 | +80% |
12 | Patient Access Manager | $90,000 | +77% |
13 | HR Coordinator | $67,500 | +75% |
14 | Lead Generation Specialist | $62,500 | +73% |
15 | Design Coordinator | $55,000 | +73% |
16 | Pharmaceutical Sales Representative | $74,378 | +71% |
17 | Behavioral Therapist | $50,000 | +68% |
18 | Special Events Coordinator | $54,000 | +67% |
19 | IT Engineer | $92,500 | +67% |
20 | Structural Engineer | $90,000 | +63% |
The demand for sales jobs multiplied this year as customer-facing businesses slowly returned to their pre-pandemic levels.
At the top of this list is the job for an Outside Sales Representative. Paying upwards of $60,000, postings for this job have grown by over 250% in a year, making it the most sought-after position for applicants with a degree.
The healthcare industry has secured its place in the top ranks too. Careers including mental health case managers, speech pathologists, behavioral therapists, and patient access managers dominate the Top 20 list.
Let’s not forget about the tech sector. While entry-level network technicians can earn upwards of $85,000 on average, while IT engineers are paid an entry package of over $90,000.
Most Sought-After Entry-Level Jobs Without a Degree
Nearly 65% of the U.S. working population does not have a four-year degree. However, millions of these workers continue to be highly skilled across professions and have a shot at some of the most sought-after entry level jobs in the country.
Rank | Job Title | Average Annual Salary | Change in Postings (2022‒2023) |
---|---|---|---|
1 | Inventory Manager | $59,000 | +189% |
2 | Auto Body Technician | $82,500 | +100% |
3 | Environmental Health and Safety Specialist | $65,000 | +100% |
4 | Salon Manager | $41,000 | +95% |
5 | Drafting Technician | $50,000 | +94% |
6 | Business Analyst | $72,500 | +82% |
7 | Sheet Metal Mechanic | $62,140 | +67% |
8 | Aircraft Maintenance Technician | $57,500 | +64% |
9 | Catering Manager | $47,500 | +56% |
10 | Transportation/Logistics Coordinator | $62,500 | +53% |
11 | Route Sales Representative | $50,000 | +51% |
12 | Rental Agent | $45,520 | +50% |
13 | Distribution Center Coordinator | $52,500 | +47% |
14 | General Maintenance Technician | $40,650 | +46% |
15 | Patient Care Coordinator | $43,152 | +44% |
16 | Forestry Technician | $45,760 | +43% |
17 | Relationship Banker | $43,576 | +43% |
18 | Field Sales Representative | $57,018 | +42% |
19 | Park Ranger | $45,912 | +42% |
20 | Warehouse Receiver | $45,000 | +39% |
One example of this job is that of an Inventory Manager. The demand for skilled inventory managers in warehouses and companies post-pandemic has doubled the position’s job share in a year.
One of the highest paying non-degree jobs in this list—Auto Body Technician—can fetch highly-skilled entry-level workers a salary of $82,000 per year.
These jobs don’t seem to require a degree according to Indeed. However, the rising competition for these positions might give the upper edge to applicants with one, especially for jobs on the list such as Business Analyst and Relationship Banker.
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