Foreign Exchange Reserves

Oceania Ranking

billion currency unitsSource: IMF

Current Rank	Country	Value	Latest Reading	Previous Rank	Previous Value

1	Australia	90.41	9-2023	1	89.42
2	Vanuatu	74.6	12-2022	2	74.95
3	New Zealand	28.62	9-2023	3	21.93
4	Solomon Islands	5.67	8-2023	4	5.59
5	Papua New Guinea	3.86	4-2023	5	3.92
6	Fiji	3.48	6-2023	6	3.33
7 ↑	Samoa	0.97	3-2023	8	0.84
8 ↓	Tonga	0.92	6-2023	7	0.88

Definition of Foreign Exchange Reserves

Foreign exchange reserves consist of foreign currency, deposits denominated in foreign currency, Monetary Gold, Special Drawing Rights (SDRs) and Reserve position in the International Monetary Fund (IMF). Foreign exchange reserves are held by monetary authorities to finance trade imbalances, check the impact of foreign exchange fluctuations and address other issues under the purview of the central bank.