The Kingdom of Saudi Arabia ranked fourth in the world in terms of the volume of reserves of foreign currency, with about 486.6 billion dollars, equivalent to 1.825 trillion Riyals by the end of the third quarter of last year 2017. The foreign reserves of Saudi Arabia rose steadily from the end of the third quarter 2017, to reach about 1.9 trillion riyals, equivalent to 506.6 billion dollars by the end of last April.
Saudi Arabia came fourth after China with $ 3161.5 billion, Japan with $ 1204.7 billion and Switzerland with a foreign reserve of $ 785.7 billion. Hong Kong followed Saudi Arabia with a foreign exchange reserve of 437.5 billion dollars, then India with 397.2 billion dollars, South Korea with 385.3 billion dollars and Brazil with 358.3 billion dollars. Russia ranked the 9th with a foreign reserve of 356.5 billion dollars and Singapore was the 10th with 279.8 billion dollars.
Major economies such as the United States and Europe have been absent from the list, as the dollar and the euro are the most common reserve currency used in international transactions, thus, countries such as the United States do not need to maintain a large volume of reserves.