For a country's economic well being, foreing currency reserves play an important role. A nation's economy can grind to a halt with no sufficient reserves. To maintain foreign currency reserves becomes vital for a country's economic health. According to International Monetary Fund (IMF), foreign currency reserve assets are an external assets that a nation's monetary authority can utilise to meet balance of payments financing needs. Majority of the nations hold the greater part of their foreign currency reserves in US dollars. China (excluding Hong Kong, Macau and Taiwan - considered to be sovereign states) has the highest foreign currency reserves with over two and half times more than the second largest reserve holder, Japan. India holds the number eigth position whose forex reserves surged by $2.604 billion to reach an all-time high of $400.726 billion. Asian countries dominate the ranks of the highest foreign currency reserves. United Kingdom is at number 15 with forex reseves of $163.503 billion as of March 2016 and the United States holds the 23rd rank with forex reserves of $116.184 billion as of November 2016. Both the countries are not in the top ten list.
Here are top ten countries with the highest forex reserves assets as of September 2017. All reserve assets are given in billions of US dollars. (Source: http://data.imf.org)