In 2024, the foreign exchange reserves in China amounted to over *** trillion U.S. dollars. Over the past years, the forex reserved had remained relatively stable. However, in the first half of 2022, the country’s dollar reserves fluctuated as a response to domestic and international crises. On the one hand, the outbreak of the Omicron variant affected the Chinese economy, on the other hand, the war in Ukraine brought uncertainty to global markets.

The world’s largest forex holder For over 30 years, China has been the global factory and by having a trade surplus, was able to grow its reserve assets to be the largest in the world. The most prominent currency on the People’s Bank of China’s balance sheet is the U.S. dollar. One of its main applications is the stabilization of the U.S. dollar to the yuan exchange rate. The yuan as a reserve currency Currency can be a powerful tool that the Chinese government does not want to miss. Since the U.S. dollar is the global reserve currency, the United States has strong leverage over other countries. Therefore, to build a counterweight to American influence, Beijing works on establishing the Yuan as a second global reserve currency. So far, China has set up a reserve pool with **** other nations and opened offshore clearing houses around the world.

The U.S. dollar was the most common currency in foreign exchange reserves in 2025, comprising more than three times the amount of the euro in global reserves that year. This total peaked in 2015, partly due to the strength of the dollar during the Eurozone crisis. The share of the U.S. dollar has lost since to the Japanese yen and euro, as well as other currencies. Why do foreign exchange reserves matter? When countries with different currencies export goods, they must agree on a currency for payment. As a result, countries hold currency reserves worth trillions of U.S. dollars. After World War II, the U.S. dollar itself became the international currency in the Bretton Woods Agreement and is thus the most common currency for international payments. The United States Treasury is also seen by most as risk-free, giving the country a low-risk premium. For this reason, countries hold U.S. dollars in reserve because the currency holds value relatively well eventually. China and currency reserves Since 2016, the International Monetary Fund has included the Chinese renminbi (yuan) as part of the Special Drawing Rights (SDR) basket. This decision recognized the influence of the renminbi as a reserve currency, particularly in several Asian countries. China also holds significant foreign exchange reserves itself, funded by its large positive trade balance.

Graph and download economic data for Chinese Yuan Renminbi to U.S. Dollar Spot Exchange Rate (EXCHUS) from Jan 1981 to Nov 2025 about China, exchange rate, currency, rate, and USA.

Key information about China Foreign Exchange Reserves

• China Foreign Exchange Reserves was measured at 3,343.3 USD bn in Oct 2025, compared with 3,338.7 USD bn in the previous month
• China Foreign Exchange Reserves: USD mn data is updated monthly, available from Jan 1989 to Oct 2025
• The data reached an all-time high of 3,993.2 USD bn in Jun 2014 and a record low of 3.7 USD bn in Jan 1989

• In the latest reports, China Foreign Exchange Reserves equaled 15.5 Months of Import in Oct 2025.
• Its Money Supply M2 increased 44,251.0 USD bn YoY in Mar 2025.
• China Domestic Credit reached 52,818.4 USD bn in Oct 2025, representing an increased of 7.9 % YoY.
• The country's Non Performing Loans Ratio stood at 1.5 % in Sep 2025, compared with the ratio of 1.5 % in the previous quarter.
• Household Debt of China reached 60.4 % in Sep 2025, accounting for 60.4 % of the country's Nominal GDP.

FX reserve managers around the world expect to shift their holdings towards the Chinese yuan in the long term, as of 2023. Nearly ** percent of central banks surveyed in 2023 planned to increase their currency reserves with renminbi. The source adds this was especially true for regions that relied on China's economy, such as Asia-Pacific and Sub-Saharan Africa. Asset diversification was another reason for central banks to invest more in the currency.

This study identifies 37 central banks that added China’s renminbi (RMB) to their reserve portfolio since 2010. Why do some states diversify into new reserve currencies at an early stage while most continue to take a wait-and-see approach? We argue that state preferences regarding international order influence decisions to invest in RMB. While some states support the liberal, US-led status quo, others prefer an emerging Chinese alternative order. We contend that as state preferences for international order move away from the US model (and toward China), the likelihood of diversifying reserves into RMB should increase. Thus, the decision to invest in RMB is not simply an economic choice. It is also a political act that signals and symbolizes a state’s preferences for a diminution of American global influence and support for a revised order. Employing new United Nations General Assembly (UNGA) ideal points data, we find that states with larger (smaller) ideal point distance with the United States (China) are more likely to adopt RMB as a reserve currency. Furthermore, political consideration—rather than economic concerns about transaction needs, optimal portfolio considerations, or instrumental calculations—best explains emergent demand for the RMB as a reserve currency.

In May 2025, ***** percent of global yuan transactions had been cleared in Hong Kong. The proximity of the city to mainland China made it predestined to be the largest market for yuan in the world. Since many Chinese and international investors funneled their investors through Hong Kong, the demand for yuan was very high. International transactions The most common international transactions is the transfer of money. In total, the value of global payment revenues reached almost two trillion U.S. dollars. To complete a transaction, both parties have to agree on a currency, which is in most cases the U.S. dollar, making the U.S. currency somewhat of a global currency. This position as a global currency has many political and strategic advantages. Internationalization of the yuan The Chinese government strives to challenge the U.S. dollar’s role in global trade. Since all countries who want to trade internationally need to buy U.S. dollars, nations are very dependent on the United States to maintain a steady reserve of U.S. dollars. China’s foreign currency reserves amounted to over three trillion U.S. dollars. To enhance its independence and ability to project its financial assets, China wants to increase the role of the yuan in global trade. One way to achieve this goal is to establish clearinghouses abroad. For instance, London has become the largest market for yuan outside the Greater China region.

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The dollar remained a popular reserve currency across multiple regions in the world in 2023, most notably Latin America. A survey held over the course of that year revealed that the USD made up roughly ** percent of reserves in LATAM central banks. This was different in Europe - including non-euro central banks - where nearly **** of reserve assets were assets. The source adds that the renminbi or Chinese yuan were barely held in any region.

View market daily updates and historical trends for Chinese Yuan to US Dollar Exchange Rate. from United States. Source: Federal Reserve. Track economic d…

The euro and U.S. dollar made up more than ***** of 10 SWIFT payments worldwide in September 2025, outperforming many other currencies. This is according to a monthly report meant to track the market share of China's yuan renminbi within the international bank transfer system SWIFT. Although China holds the largest forex reserves in the world, the yuan ranked as the *****-used currency in international payments. The figures concern customer-initiated and institutional payments and exclude trade. Discussions on the potential weakening role of the U.S. dollar especially touch world trade and forex. For example, the share of the USD in forex reserves declined visibly against the euro and Japanese yen in 2024. What sparked this de-dollarization trend, and will it continue? Trade sanctions and de-dollarization De-dollarization in 2024 is mentioned mostly alongside trade and the BRICS countries - an informal name given to Brazil, Russia, India, China, and South Africa. The combined GDP of BRICS is about ** percent of the world's economy. After the start of the Ukraine war and Russia received economic sanctions, the BRICS slowly evolved into a trading bloc. The group increasingly wanted its own currency to settle payments within the trade bloc, to avoid using the U.S. dollar. In August 2024, BRICS gathered in South Africa to discuss the creation of such a new joint currency. Additionally, ** countries - including Argentina, Algeria, Egypt, Saudi Arabia, Turkey, and Yemen - expressed interest in joining the BRICS group. CBDC, or projects into a digital payment settlement A factor of future uncertainty for the U.S. dollar is how central bank digital currencies (CBDC) develop in emerging countries. Several projects exist between individual countries that specifically target cross-border interbank payments. A cooperation between Thailand and Hong Kong, Inthanon-Lionrock, ranks as the most advanced of these projects. CBDC does not require the U.S. dollar to function. Tangible such as commodities or gold can back them. The value of transactions processed with CBDC is to grow by ******* percent between 2024 and 2030.

Graph and download economic data for Currency Conversions: US Dollar Exchange Rate: Average of Daily Rates: National Currency: USD for China (CCUSMA02CNQ618N) from Q1 1957 to Q3 2025 about China, exchange rate, currency, and rate.

Reserves Currency Composition：人民币在01-01-2020达1,499.000百万美元，相较于12-01-2019的1,494.000百万美元有所增长。Reserves Currency Composition：人民币数据按月更新，12-01-2016至01-01-2020期间平均值为1,266.500百万美元，共38份观测结果。该数据的历史最高值出现于02-01-2019，达1,516.000百万美元，而历史最低值则出现于12-01-2016，为320.000百万美元。CEIC提供的Reserves Currency Composition：人民币数据处于定期更新的状态，数据来源于Banco Central de Reserva del Peru，数据归类于全球数据库的秘鲁 – 表 PE.KA002：Official Reserve Assets and Foreign Currency Liquidity。

China BOP: FA: Non-reserve: Other Investment: Asset: Currency and Deposit data was reported at 38,764.665 RMB mn in 2024. This records a decrease from the previous number of 158,309.223 RMB mn for 2023. China BOP: FA: Non-reserve: Other Investment: Asset: Currency and Deposit data is updated yearly, averaging -394,202.547 RMB mn from Dec 2010 (Median) to 2024, with 15 observations. The data reached an all-time high of 158,309.223 RMB mn in 2023 and a record low of -1,139,911.337 RMB mn in 2014. China BOP: FA: Non-reserve: Other Investment: Asset: Currency and Deposit data remains active status in CEIC and is reported by State Administration of Foreign Exchange. The data is categorized under China Premium Database’s Balance of Payments – Table CN.JF: Balance of Payments (BPM6): RMB.

China Monetary Authority: Liab: Reserve Money: Currency Issue data was reported at 8,131.067 RMB bn in Mar 2019. This records an increase from the previous number of 7,914.550 RMB bn for Dec 2018. China Monetary Authority: Liab: Reserve Money: Currency Issue data is updated quarterly, averaging 2,550.160 RMB bn from Mar 1993 (Median) to Mar 2019, with 105 observations. The data reached an all-time high of 8,131.067 RMB bn in Mar 2019 and a record low of 486.730 RMB bn in Mar 1993. China Monetary Authority: Liab: Reserve Money: Currency Issue data remains active status in CEIC and is reported by The People's Bank of China. The data is categorized under Global Database’s China – Table CN.KC: Balance Sheet: Monetary Authority: Quarterly.

Dataset Overview This dataset includes a comprehensive list of currencies used by each country around the world, along with the corresponding three-character alphabetic and three-digit numeric ISO 4217 codes for each currency.

Key Notes

3-Letter Alphabetic Currency Code: This code is composed of the ISO 3166 two-letter country code plus an additional character, typically the first letter of the country's official currency, to denote the unit. Authority: The responsible authority for domestic currency is usually the national Central or Reserve Bank. Major Trading Currencies The Euro (EUR) and the US Dollar (USD) are preferred foreign currencies in many countries around the world. Other major trading currencies include:

Japanese Yen (JPY) British Pound Sterling (GBP) Australian Dollar (AUD) Canadian Dollar (CAD) Swiss Franc (CHF) Chinese Yuan (Renminbi; CNY) Swedish Krona (SEK) New Zealand Dollar (NZD) Mexican Peso (MXN) International Reserve Currencies

US Dollar (USD): The US Dollar is the official currency of the United States and its territories and is also used as legal tender in several countries outside the USA, including East Timor, Ecuador, El Salvador, Federated States of Micronesia, Marshall Islands, Palau, Panama, and Zimbabwe. The US Dollar is pegged by 27 currencies. Euro (EUR): The Euro is the sole legal tender in 19 European Union countries and is also used in Andorra, Monaco, San Marino, and Vatican City. These countries issue their own coins. Twelve currencies are pegged to the Euro at a fixed exchange rate. Exchange Rates The exchange rate is the rate at which one currency can be exchanged for another. It represents the value of one currency for the purpose of conversion to another. Exchange rates fluctuate daily, though not significantly. To stay updated on the latest exchange rates, you can use a Currency Converter app or services like x-rates.com.

Graph and download economic data for Currency Conversions: US Dollar Exchange Rate: Average of Daily Rates: National Currency: USD for China (CCUSMA02CNA618N) from 1957 to 2024 about China, exchange rate, currency, and rate.

View quarterly updates and historical trends for Allocated Reserves Claims in Chinese Renminbi. from United States. Source: International Monetary Fund. T…

china - Chinese Yuan Renminbi to U.S. Dollar Spot Exchange Rate was 7.27060 Chinese Yuan to 1 U.S. $ in May of 2025, according to the United States Federal Reserve. Historically, china - Chinese Yuan Renminbi to U.S. Dollar Spot Exchange Rate reached a record high of 7.34990 in April of 2025 and a record low of 6.32120 in March of 2022. Trading Economics provides the current actual value, an historical data chart and related indicators for china - Chinese Yuan Renminbi to U.S. Dollar Spot Exchange Rate - last updated from the United States Federal Reserve on November of 2025.

As of April 2025, the value of China's special drawing right by the International Monetary Fund (IMF) equaled to ***** billion U.S. dollars. The value of an SDR is based on a basket of key international currencies including the U.S. dollar, euro, Chinese yuan, Japanese yen and British pound.