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Record reduction of gold and foreign exchange reserves in the world, and 3 Arab countries record growth by billions


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Global gold and foreign exchange reserves have recorded a record decline in recent years, as they fell by $1 trillion in 2022.

According to a report published by the Novosti agency based on data from central banks, global gold reserves fell at a record $1 trillion last year, and the figures show that the largest decline was recorded in Switzerland.

Reserves fell by $1 trillion last year, the biggest annual decline since at least the turn of the century, according to central bank data.

Prior to that, the largest decline was in 2015, when foreign assets in central banks fell by $711 billion.

At the same time, it last recorded a reduction in reserves in 2018 by only $63 billion.

Overall, reserves fell in two-thirds of the countries surveyed last year, with the biggest declines in reserves occurring in Switzerland ($186bn), Japan ($134bn), Singapore ($128bn) and China ($120bn). the top five with a $73 billion decrease in international assets.

The top 10 also includes India, Russia, South Korea, Brazil and the Czech Republic.

At the same time, the international assets of central banks grew in 33 countries, but only in 15 countries they grew by more than $1 billion. The strongest growth in gold and foreign exchange assets was recorded in Turkey, which grew by $17.6 billion.

The top five also included Qatar (+$5.2 billion), Argentina (+$4.9 billion), Saudi Arabia (+$4.5 billion) and Kuwait (+$4.1 billion).

Source: News

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