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Countries With the Highest Percentage of Gold in Forex Reserves

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Gold reserves are held by the national central banks of the country and come in handy during times of crisis or emergencies. In many countries around the world, gold forms a huge proportion of the total forex reserves. A part of the former Soviet Union, at 79.9 percent, Tajikistan holds the highest percentage of share of gold in forex reserves. The Central Asian nation is followed by the United States of America (US), which is the world’s largest economy with 75.6 percent gold reserves. Following the US are the European nations of Germany, Italy and France with 70.1 percent, 69.1 and 65.4 percent of gold in forex reserves.

The Mediterranean nation of Cyprus, a prosperous nation with an advanced high income economy and Human Development Index, has 65 percent of gold in forex reserves. Another prosperous European nation, the Netherlands closely follows Cyprus and has some 64.5 percent of gold in forex reserves. The South American nation of Venezuela, which is marked by a worsening economic scenario, high inflation rates and shortage of food, has around 64.4 percent of gold in forex reserves. At the number ninth spot is Greece, which holds 62.9 percent of gold in forex reserves. One of the most peaceful countries in the world with a very high standard of living, the European nation of Portugal holds around 62.4 percent of gold in forex reserves and comes last on the top ten list.

Source: World Gold Council

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